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Forbes: Entrepreneurs

Panos Mourdoukoutas on Aug 30, 2015 01:38AM

Google Does The Right Thing, Again

  Five years ago, Google did the right thing: it exited the world’s largest Internet market rather than yield to China’s censorship rules. Now, Google has done it again, fighting allegations by the European Commission (EC) that “the company has abused its dominant position in the markets for general internet search services in the European Economic Area (EEA) by systematically favouring its own comparison shopping product in its general search results pages. The Commission's preliminary view is that such conduct infringes EU antitrust rules because it stifles competition and harms consumers.” Here is a quote from Google’s response to EC allegations: “While Google may be the most used search engine, people can now find and access information in numerous different ways—and allegations of harm, for consumers and competitors, have proved to be wide of the mark.”  The company further provides comprehensive data to defy EC’s allegations. Why is that the right move? Because regulators usually have a political agenda. In the name of “competition,” they usually support and re-enforce entrenched economic interests, and end up limiting competition and innovation. The absence of Google from China, for instance, leaves the market to local competitor Baidu, which enjoys a near monopoly there. And any restrictions in the way Google does business in the EU will strengthen local competitors. Doing the right thing has consequences, of course. Leaving China, Google has suffered a great deal in missing earnings, and fighting EC could end up with the company having to pay severe fines. But that’s part of a company’s character, and character is destiny. That’s one of the Golden Rules of Leadership. Besides, Google has demonstrated that it can make money by doing what’s its leadership believes to be right. Google’s Financial Metrics

Jay Adkisson on Aug 29, 2015 09:59PM

A Call For A Uniform Anti-SLAPP Act

In my lifetime, I have been actually sued for nearly $5 billion dollars in various cases. Yes, that is billion with a "b" as in bogus. Nearly all the complaints filed against me were for defamation, and all those complaints were ultimately dismissed about as quickly as the judges figured out what they were really about.

Christian Sylt on Aug 29, 2015 08:17PM

Revealed: Where Formula One's $900 Million Prize Money Really Goes

Four Formula One teams earned more than $100 million in prize money last year according to new research which shows that the outfits in the auto racing series are some of the best rewarded in world sport.

Shellie Karabell on Aug 29, 2015 04:58PM

How Ballet Can Make You A Better Leader

Or: Leadership Traits I Learned At The Barre

Timothy M. Todd on Aug 29, 2015 02:35PM

Tax Court Holds Untimely NBAP Does Not Invalidate FPAA

The Tax Equity and Fiscal Responsibility Act of 1982 (“TEFRA”) radically changed the way the IRS audits partnerships. Among other things, TEFRA provides a series of timing rules that the IRS is to follow when auditing a partnership. For example, the IRS is to mail a notice when the audit begins (known as a NBAP) and send a separate notice when the audit is complete (known as a FPAA). A recent case demonstrates the consequences when the IRS does not follow those timing rules.



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