Google Inc (GOOG): Is All This Trouble Worth $200K?

Page 1 of 2

Google Inc (NASDAQ:GOOG) and the French haven’t exactly gotten along in recent years. The French have seemed to be the most vocal among all European Union members about various parts of Google’s business model – from setting up its browser search results to seemingly favor its own properties at the top of the results, to how many taxes Google pays, to now issue s involving private consumer data and how it is managed and stored. This latest  beef, however, at least has some teeth to it. Baby teeth, perhaps, but teeth nonetheless.

The French government privacy watchdog called CNIL ruled earlier today that it will give Google Inc (NASDAQ:GOOG) three months to make the necessary changes to the company’s privacy policies so they are compliant with french consumer protection laws or face a fine. How much of a fine are we talking about?

Sergey BrinA fine? This is no more than Sergey Brin’s walking-around money. The daunting fine threat given to Google Inc (NASDAQ:GOOG)? A whopping. unbelievable, unprecedented, bank-breaking … $200,000. Google is being asked (well, since there is a consequence attached, we’ll say it has been demanded) to more specifically address how and why the company gathers information and what information it gets from users. The CNIL also has been seeking specifics as to how long Google holds on to data it collects from users, and what it does with the information once it is deemed ready for disposal from the server.

In its report which issued the deadline, CNIL president Isabelle Falque-Pierrotin said, “The information received in respect to this have so far been too imprecise or vague.” Google Inc (NASDAQ:GOOG), meanwhile, has been claiming all along that its privacy and data-collection and storage policies are fully compliant with EU law, yet the company agreed to modify its policies last year. The EU determined last fall that the changes weren’t sufficient and gave Google four months to fix them. That time passed and nothing happened, so France  went on to enlist help from other EU members like Spain, Italy and Germany, to consider putting some joint pressure on the search-engine firm to be in compliance. While France cannot impose much of a fine on its own due to its country’s laws, Spain  can be more stringent if it decides to follow suit with a threat, as Spain could fine Google as much as $1.3 million.

So what was the problem with the modified policy if Google Inc (NASDAQ:GOOG) maintains ongoing compliance?

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!