Saturday, September 24, 2011

Eric Schmidt Defends Google (Video) *Denies anti-competitive practices at Senate hearing*


Google Executive Chairman Eric Schmidt testified before the U.S. Senate Antitrust Subcommittee on September 21, 2011

Mr. Schmidt Goes to Washington Google Executive Chairman Eric Scmidt testified before the U.S. Senate Antitrust Subcommittee during a hearing on online competition titled, "The Power of Google: Serving Consumers or Threatening Competitors?". Schmidt denied competition issues and referenced Microsoft and their 1998 antitrust hearing in his opening statements. Does Google prioritize its content over competitors in search?. Schmidt denied this accusation and said "I can assure you we have not cooked anything" regarding manipulating its search algorithm to place Google products near the top. The U.S. Federal Trade Commission is looking into Google as a potential monopoly while the U.S. Justice Department is looking into Google's acquisitions of other companies.

Google's Schmidt Defends Company at Senate Hearing Sept. 21 (Bloomberg) - Bloomberg's Lizzie O'Leary reports on today's testimony by Google Inc. Chairman Eric Schmidt at a Senate hearing investigating possible anticompetitive practices by the company. Carol Massar also speaks on Bloomberg Television's "Street Smart." (Source: Bloomberg)

For more information, see InfoDocket for text, documents, and videos of the Senate hearing.

About Google Google describes itself in press releases as, "Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major global markets. Google's targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout the Americas, Europe and Asia."

Google's Mission Statement "Google's mission is to organize the world's information and make it universally accessible and useful. The first step toward fulfilling that mission came when our founders, Larry Page and Sergey Brin, working out of a Stanford University dorm room, developed a new approach to online search that quickly spread to information seekers around the globe. Google is now widely recognized as the world's largest search engine -- a free service whose utility and ease of use have made it one of the world's best-known brands almost entirely through word of mouth from satisfied users."

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