Partner Pay Intrudes on Google Fantasy

The folks at Google would have you believe that they've modeled their company on the principles of Warren Buffett.

But investor beware: The more appropriate comparison is Willy Wonka.

In their letter to potential shareholders that was included in Google's initial public offering documents filed Thursday, Google founders Larry Page and Sergey Brin paid homage to the values of Berkshire Hathaway's (BRKA Quote) Buffett: the focus on creating long-term value, not hitting quarterly numbers. The blunt, plain-spoken communication with shareholders. And, one assumes, the promise of fabulous wealth.

Yet the picture they paint of how Google is run, and how it should be run, more closely resembles the candy manufacturer run by Willy Wonka in Roald Dahl's classic children's book Charlie and the Chocolate Factory. ...