(Continued)

The change leaves that position unfilled and raises the questions of not only who will be Schmidt's replacement, but also what exactly happened. Separating the powers is intended to make boards more responsive to shareholders rather than a rubber stamp for management decisions.

In other news, Google's auction-style IPO, expected to fetch $2.7 billion this year, will be added to a war chest of $455 million in cash and short-term investments — almost as much as eBay had after its IPO. With hype in overdrive over Google's imminent stock offering, the latest parlor game in Silicon Valley is guessing how the hottest Internet search engine on Earth will spend the billions raised by its IPO.

What Google does with its newfound loot — it has earmarked $250 million for capital spending, according to its IPO filing — might determine its fate amid increasing competition from Microsoft and Yahoo.

Google in the news, again: Metaspinner Media might sue Google - German meta search company Metaspinner Media accused Google of failing to comply with a preliminary injunction issued in Hamburg district court, as the search giant's trademark-related legal woes continue.

But metaspinner says Google has continued to allow advertisers to use the term, and the German firm will now take the case to court. Preispiraten, which translates literally to "price pirates," is the company's name for its shopping search tool. "It shouldn't be possible that the company's considerable expenditures to build up the brand 'Preispiraten' are exploited and siphoned off by advertising third parties and particularly by Google," said Stefan Maas, metaspinner media's attorney.

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