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Schmidt insists on holding onto Apple board position

updated 11:10 am EDT, Fri May 8, 2009

Schmidt on FTC probe

No plans exist to resign from Apple's board of directors, in spite of an investigation by the Federal Trade Commission, says Eric Schmidt. The Google CEO spoke to reporters in advance of the company's shareholders meeting, the Associated Press writes, defending himself against suggestions that his participation in Apple may violate antitrust laws. The Clayton Antitrust Act prevents someone from serving on two boards if it may hinder competition.

The interests of Apple and Google are thought to be merging at an increasing rate, with both companies now working on cellphone technology. Gmail and YouTube have become increasingly integrated into Apple hardware and software, and plans for "premium" content at YouTube may venture into territory occupied by the iTunes Store. The companies also produce their own web browsers in the form of Safari and Chrome.

Schmidt maintains that he has done nothing wrong however, and argues that the FTC will not find any problems in the Apple-Google connection. He observes for instance that the main focus of Google is on search, and that whenever the iPhone is discussed with Apple's board, he excuses himself from meetings. Such actions may nevertheless be insufficient to allay legal concerns.



By Electronista Staff
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  1. testudo

    Forum Regular

    Joined: Aug 2001

    +4

    I can understand

    He doesn't want to lose his employee discount at the company store.

  1. Salty

    Professional Poster

    Joined: Jul 2005

    +3

    Makes Sense

    Makes sense Apple and Google are pretty complementary moreso than they compete. I mean you could argue that Picasa and iPhoto compete, or that Safari and Chrome compete... but really iPhoto is such a small part of Apple's bottom line, as is Picasa for Google, that can't be a concern. Nor can Safari and Chrome since both are FREE. Besides neither is in a dominant market position when it comes to web browsers.

  1. climacs

    Forum Regular

    Joined: Sep 2001

    -9

    no merger though

    I can't ever see them merging though... strategic cooperation, yes, absolutely. But an actual merger would be bad for Google and the reaction against it would deprive Apple of many of the advantages of actually acquiring Google.

  1. testudo

    Forum Regular

    Joined: Aug 2001

    -3

    merger

    Who said anything about them merging?

    And Google's market cap is twice as large as Apple. If anyone were to do the acquiring, it would be Google, not Apple.

  1. smashedbanana

    Fresh-Faced Recruit

    Joined: Jun 2005

    +1

    Market cap

    Apple's market cap is $115.25 billion and Google's is $128.41 that's not double..

    Still no chance of a merger.




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