Tuesday, March 03, 2009

Just Google "down in aftermarkets trading"...

After the market closed Google's CEO said tonight...

"the economic situation is "pretty dire," adding that he does not expect to see improvement until 2010.

"Everyone is assuming 2009 is a tough, tough year," he said during an appearance at the Morgan Stanley Technology Conference in San Francisco.

And while Schmidt said that Google and other Internet advertising giants may be better positioned than offline counterparts, "we are not immune" to current economic conditions. "I view the situation as pretty dire," he said, referring to the economy."

I love Google and their products but what many people forget is that for all their cool technology they are an advertising company not unlike cable, newspapers and magazines. Ad dollars are declining and that's going to have an impact on Google. Google is trading down $11 after hours.

Cheers!

If you're looking for the NYSTRS Holdings post, scroll down. Thanks for visiting.

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