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102 Google Shares Break the $300 mark and the the Securities and Exchange Commission ruled unanimously to let company executives talk about their operations in addition to distributing prospectuses before IPO sale.

27th Week of 2005 / SAN FRANCISCO -- This week, not only was the Google name cleared by the SEC for its pre-IPO aticle in Playboy, but its value rose to over $84.5 billion -- more than such venerable companies as Time Warner Inc., Amgen Inc. and Hewlett-Packard Co, say those in the know.
Google Inc.'s shares rose $6.85 to $304.10 on Monday, the first time the 7-year-old Internet search leader's stock closed above $300.
As for the Securities and Exchange Commission, the members agreed to OK Stock Promo Hypes before IPOs, the old rule, intended to protect investors from hyped advertising of securities, dated from 1933.
After the market crash of 29, the 30s rule was effected to protect investors from getting into trouble because of the hyped information that was allowed to be promoted along with the standard conditions of the offering.
Google Inc. found out just how serious the SEC was about enforcing the regulation when its initial public offering in August was almost derailed after Playboy magazine published an interview with the company's founders.
Any how, Google shares have risen 258%, from an IPO price of $85, as investors vie to own one of the world's fastest-growing firms and the the Securities and Exchange Commission agreed on Wednesday to allow companies, sch as Google, to promote their stocks and bonds ahead of public sales, seeking to make more information available to prospective investors.
The SEC's five commissioners voted unanimously to let company executives talk about their operations in addition to distributing prospectuses before the sale. The old rule, intended to protect investors from hyped advertising of securities, dated from 1933.
There has been little major news to propel Google's stock since late April, when the company said first-quarter profit soared 500% from a year earlier. Yet the shares have risen nearly 40% since then, hovering just below $300 for three weeks before finally topping that milestone.
Perhaps investors were excited by updates to the Google Video service, which on Monday began letting users seek and watch short video clips.
The company created the world's most popular search engine and took its name from the number googol, which is 1 followed by 100 zeros.
It makes nearly all of its money from online advertising. To some, that makes Google a media company -- if so, it's the most valuable, worth more than News Corp. or Walt Disney Co.
"News like Google new Video service, is good for the company, because it's the truth. Therefore, it's good for the investment bankers, it's good for the public as it seems there won't be an information vacuum," said Clay Corbus, co-chief executive at San Francisco-based investment bank WR Hambrecht & Co., which advised Google on its auction based-IPO.
SEC Chairman William H. Donaldson said at Wednesday's meeting in Washington. "Investors are entitled to information at the point they commit to purchase a security."
The reforms brought the capital markets into line with modern technologies, including the Internet, Donaldson said.
"This may be an acknowledgment by the SEC of the way real world communications now work," said Frederick C. Lane, chief executive of Boston-based advisory and underwriting firm Lane, Berry & Co. International. "Trying to monitor all the communications out there is next to impossible."
Any public statement permitted under the new rule must be accurate and not misleading, matching the legal standard that applies to a company's prospectus. Executives may speak to the media, as in Google's Playboy interview, provided they file a copy of the remarks with the SEC.



ByLines: Editors Note

LA Times Quote; "Google started as a noun. Then it became a verb. Pretty soon, googol may be the company's stock market value.

More Articles • Converging News 272005 / TeleCom Buy Outs and Asset Seizure Boom

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Yes90 tviNews 102 Google Shares Break $300, and SEC's ruled unanimously to let company executives talk about their operations • / Television International Magazine's Person Of The Week POW 272005 - / NEWS Convergence - 27th Week of 2005 / Feature Story • 102GoogleSharesOver$300.htm Smart90, s90tv, lookradio, tvimagazine, dv90, vratv, xingtv, Ddiaries, nbs100, Look Radio, Josie Cory, Television With No Borders

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