Google Inc (GOOG): One Last Chance to Get This Right

Page 1 of 2

Google Inc (NASDAQ:GOOG) knows the European Union Competition Commissioner on a first-name basis by now. After all, when the man who oversees a nearly three-year investigation into anti-competitive business practice claims and has dealt with the company several times by letter or in-person meetings over those three years, chances are the interactions  can be casual after a while. (We have documented at least some of this process before.)

But when it comes to securing open competition, it is serious business for the EU Competition Commission and it takes its work very seriously. Google Inc (NASDAQ:GOOG) is still in the crosshairs of the commission even after submitted proposals Sergey Brinback in April that were designed to remedy the antitrust investigation into Google and its search engine, which has been claimed to punish any and all rival websites and services that are available online.

Google was asked to submit  proposed changes back in April, and the EU ran a series of field tests on the proposed search changes to check their effectiveness and balancing out the competition on Google Search results, which have been claimed to favor Google and partner sites and services first while pushing all competition further down the page of results – even if the rival results were actually more relevant to the search inquiry terms.

However, as a result of the field test, Competition Commissioner Joaquin Almunia revealed this week that he sent a letter to Google Inc (NASDAQ:GOOG) executive chairman Eric Schmidt advising him that the proposals sent forth were not adequately addressing the concerns of the EU Competition Commission nor of those who filed the original complaints, and that the company was now demanded to come up with better ideas or risk formal legal proceedings on the antitrust, anti-competition charges. There is no word as to what the new deadline will be for the new proposals.

“After the analysis of the results of the market test that concluded at the end of last month … I concluded that the proposals that Google sent to us months ago are not enough to overcome our concerns,” Almunia said. Google Inc (NASDAQ:GOOG) Search  has had a 90-percent market share in Europe for the past five years, according to regular data reports.

If Google breaks any commitments or fails to present adequate  remedies for the anti-competitive concerns, the company could face a fine of as much as 10 percent of its annual global revenue, which would translate to hundreds of millions of dollars.

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

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

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!