In today’s Daily View video segment on FT.com, Lex columnist Dan McCrum ponders Microsoft’s decision to borrow in the bond markets for the first time, even though it has $25bn of cash on hand (news story here.)
His conclusion: like the cost-cutting announced earlier this year, this is another sign that the software giant is thinking harder about deploying its assets more efficiently – in this case, its powerful balance sheet. But for long-suffering shareholders such moves are of only marginal interest.
There is clearly something in the air in Brussels and Washington, and Silicon Valley had better watch out – particularly Google.
Christine Varney’s fighting words on Monday make it clear that US trust-busters want to wipe the slate clean after the Bush years. That brings back memories of some notorious off-the-cuff words Varney threw out during a panel session last year:
For me, Microsoft is so last century. They are not the problem. I think we’re going to continue to see a problem, potentially, with Google.
Now we hear from one usually well-informed source that Neelie Kroes (pictured), Europe’s competition commissioner, has been raising the same general concerns, albeit in a private setting. Read more