Eric Schmidt Selling $2.5B Of Google Stock

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$2.5 billion? Holy crap, talk about a massive pay day! On second thought, he's selling off almost 50% of his stocks, I wonder if he knows something we don't?

An 8-K filed with the SEC Friday indicates that Schmidt, who previously served as Google’s chief executive, will sell up to 3.2 million shares — he owns 7.6 million — a stake worth slightly more than $2.5 billion at Friday’s closing price of $785.37.
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So he's getting half of that or so given the 39.6% Federal + 9.3% California?
 
Eric, please let me help you spend that 2.5 billion.

You could wipe your ass with that money for the rest of your life and still have 2.495 billion left
 
Mr. Schmidt, will you kindly give me 1%. Thank you in advance,
 
dr.kevin said:
Eric, please let me help you spend that 2.5 billion.

You could wipe your ass with that money for the rest of your life and still have 2.495 billion left
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What shares would you buy with it?
 
Kaitian said:
So he's getting half of that or so given the 39.6% Federal + 9.3% California?
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Yes, and these funds are going into his no-fee checking account. /sarc

It would take page after page to accurately explain the tax avoidance strategies and special treatment from the code for a multi-billion dollar move like this and all the entities involved.
 
dr.kevin said:
I bet there's some loophole where he only pays 13%, like Mitt Romney
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Id rather give the government less, and give to charity willingly, like Mitt Romney

In 2011, the Romneys donated about 29% of their income to charity – $4 million out of their total $13.7 million in income. For 2010, they donated about 13.8% of their income, $2.98 million out of $21.6 million. Over a 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income, according to an accountants’ letter they provided on Friday.

The information released by the Romney camp Friday also made a point of noting that in combination the Romneys have paid close to 40% on average of their adjusted gross income to various taxes and charities. By any measure, that’s a big number.

Man, what a dick he is.
 
choppedliver said:
Id rather give the government less, and give to charity willingly, like Mitt Romney

In 2011, the Romneys donated about 29% of their income to charity – $4 million out of their total $13.7 million in income. For 2010, they donated about 13.8% of their income, $2.98 million out of $21.6 million. Over a 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income, according to an accountants’ letter they provided on Friday.

The information released by the Romney camp Friday also made a point of noting that in combination the Romneys have paid close to 40% on average of their adjusted gross income to various taxes and charities. By any measure, that’s a big number.

Man, what a dick he is.
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I don't consider the LDS and its associated charities a worthy charity, but to each his own right?
 
So I guess now would be either a really good time or a really bad time to buy Google stocks.
 
[Tripod]MajorPayne;1039602953 said:
That'll be capital gains tax, likely long-term capital gains tax, so he'll pay 15% federal, most likely. I don't know how CA state taxes people on cap gains.
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Plus, it's not like he's cashing out. It is likely just being moved into a different investment.
 
dr.kevin said:
Eric, please let me help you spend that 2.5 billion.

You could wipe your ass with that money for the rest of your life and still have 2.495 billion left
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You would still have $2.5b, just some would be poopy. Plus why would you want to wipe your ass with money? It is dirty, has guys faces on and smells weird! :p
 
DeathPrincess said:
You would still have $2.5b, just some would be poopy. Plus why would you want to wipe your ass with money? It is dirty, has guys faces on and smells weird! :p
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And likely has small traces of cocain in it.

Wait, maybe that's why someone might wipe their ass with money.
 
choppedliver said:
Id rather give the government less, and give to charity willingly, like Mitt Romney

In 2011, the Romneys donated about 29% of their income to charity – $4 million out of their total $13.7 million in income. For 2010, they donated about 13.8% of their income, $2.98 million out of $21.6 million. Over a 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income, according to an accountants’ letter they provided on Friday.

The information released by the Romney camp Friday also made a point of noting that in combination the Romneys have paid close to 40% on average of their adjusted gross income to various taxes and charities. By any measure, that’s a big number.

Man, what a dick he is.
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That's just the money we know about. Google "Romney blind trust"

Also, here's a video of Romney being a dick: http://www.youtube.com/watch?v=NY6UTnS6Z-A
 
I'd guess this has less to do with "him knowing something we don't", and more that the company is trading at a 5 year high price....

A good time for anyone to sell...
 
choppedliver said:
Id rather give the government less, and give to charity willingly, like Mitt Romney

In 2011, the Romneys donated about 29% of their income to charity – $4 million out of their total $13.7 million in income. For 2010, they donated about 13.8% of their income, $2.98 million out of $21.6 million. Over a 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income, according to an accountants’ letter they provided on Friday.

The information released by the Romney camp Friday also made a point of noting that in combination the Romneys have paid close to 40% on average of their adjusted gross income to various taxes and charities. By any measure, that’s a big number.

Man, what a dick he is.
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Tithing to the Mormon church hardly counts as "donating to charity".
 
Rizen said:
Tithing to the Mormon church hardly counts as "donating to charity".
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Yes and no. While a great portion no doubt goes to sharing their ideology a significant portion also goes towards charity work. I've also never a met a Mormon who's in it for the money and considering nearly every task and function in their church has no pay it's no wonder why. I mean, they actually pay this 10% tithe and then goes and work in the organization at no pay. It seems a bit above and beyond a typical charity. How many churches, let alone charities, are comprised almost entirely of unpaid volunteers let alone at the operational level the Mormons have? It's quite the accomplishment imo.
 
Many aspects of out governmental system are complete bullshit. The loopholes can be exploited. I love it when I can exploit them. I hate it when people I don't approve of exploit them. Ultimately the two issues are:

1) That there are or people feel there need to be loop holes to be exploited.

and

2) that some people with large amounts of social influence and capital power may be the benefactors of more loopholes.
 
[Tripod]MajorPayne;1039602953 said:
That'll be capital gains tax, likely long-term capital gains tax, so he'll pay 15% federal, most likely. I don't know how CA state taxes people on cap gains.
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Actually capital gains jumped to a whopping 20% actually, and a 3.8% Medicare surcharge, California's actually doesn't a capital gains tax actually, it's just treated as income, as it should for the federal government IMO, as a result he invested no where close to what it's worth, then he's on the dole for the full amount as tax, 13.3% (assuming his residence is in California), so overall he'll pay 37.1% on his cash out. I'm not sure how the rules work if he can immediate reinvest it, but it wouldn't surprise me in the least if there's even more loopholes.
 
WTF? Why can't people edit their posts in the news section? This shit is retarded, And I don't use the term "retarder" in a derogatory sense. I use it in the literal sense. As in people with an intelligence quotient below 70.

If anyone is upset by the unreadable spelling in my previous post please take it up with the powers that be and once granted privileges I'll fix all of it.

WTF? No "Preview" function before posting and no ability to edit posts once formatted? What the hell do you want? Well you get it. A ton of shit that doesn't make sense.
 
maverikv said:
I don't consider the LDS and its associated charities a worthy charity, but to each his own right?
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LDS Humanitarian Services.

"From 1985 - 2009, $327.6 million in cash and $884.6 million in commodities of aid was given throughout 178 countries."
 
S-F said:
WTF? No "Preview" function before posting a
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retarder.jpg
 
Just about everyone knows the minute they start making big money from facebook, its over. The relatively low revenue and declining userbase will crash the stock.
 
Ruoh said:
It's a charity with a hook.
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You know this how? Do you have first-hand experience with Deseret Industries? No, you don't naturally. You do realize that the Wikipedia don't explain very much. Deseret Industries gives millions of dollars of food to people in poverty for NOTHING. Bishop's orders are fulfilled without hesitation and also millions of dollars in clothing, furniture (brand new), food, whatever they need to people who really really need them. The clothes that do not sell through Deseret Industries are shipped throughout the world at their own expenses to places like Africa or wherever natural disasters occur. The money that Deseret Industries earns through re-selling clothes, small as-is, large as-is, electronics, etc are "recycled" in a sense to pay for the "Associates" who are hired through recommendation by a Bishop regardless of church affiliation, member or not, so that they can support themselves. Deseret Industries also pays for vocational training such as welding, CDL's, computer training, cashier training, whatever so that these people can use these skills to find something that they couldn't before. Also Deseret Industries work with the Drug Courts to help people who are on probation and keep them on a tight leash so that they can actually succeed and make it through their probationary period by allowing them to earn money to pay their fines, gain work experience, and a higher chance of being re-integrated into society. The list goes on.

Ya, you didn't know any of that crap.
 
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