Google stock just got pounded after a disappointing earnings report. Profits were eaten up by high spending, mostly from marketing costs and hiring hundreds of employees. "There might be some realization that they are in the advertising business, not the rocket-ship business," said one investor, which gave Sergey and Larry a great idea to spend more play money on.

Google intends to keep ignoring market pressures. Meanwhile, Googlers with only two or three million bucks of stock are losing their retirement money. With all this cash being thrown at projects and new staff, maybe they ought to drop some of the perks — fire a couple of massage therapists, turn off the sauna, charge for movie night...

Google Misses by a Mile [The Street]