USATODAY.com - Getting in on Google: Not eligible?!
USATODAY.com - Getting in on Google: Not eligible?!Getting in on Google: Not eligible?!
By Michael J. Martinez, Associated Press
NEW YORK — I wanted in. But, at least for now, I'm out.
I've been participating in the run-up to Google's widely publicized initial public stock offering, or IPO, to give people insight into how the company's auction process works. It's been billed as an IPO for the average investor, circumventing the Wall Street insiders to give the little guy a shot at getting pre-market shares of the hottest IPO of the 21st century.
It hasn't worked out that way, at least for me. According to my broker, I'm not eligible to participate in the Google auction. The underwriters' definition of "average investor" for this IPO apparently includes above-average knowledge, experience and money. At best, I have two out of three.
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