In the Jan. 29-Feb. 11, 2007, issue of Accounting Today, there appeared an article by Abraham J. Briloff titled "Google's SOS to the SEC." That article discussed Google's July 2006 appeal to rescue it from a tsunami that was flooding its banks with billions of billions of dollars. The ill wind inducing this dilemma for Google was the Securities and Exchange Commission rule that requires a registrant with investments (excluding U.S. Treasuries) that exceed 40 percent of its total assets to follow the much-stricter rules applicable to mutual funds - a fate that Google wanted to avoid.The contingency that then confronted Google appears to have passed. In any event, we have not heard any further alarms. That article also considered in some detail Google's very special tax minimization circumstances; those circumstances still prevail and instigate this article.

POWER, PROPERTY AND THE 'FOUR I'S'

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