Google (GOOG) recently announced that it will make ferry services available for all its employees who need to travel from San Francisco to the company's Silicon Valley campus for work.
The catamaran assigned for this task is called “Triumphant” and has a capacity of 150 passengers. It runs twice daily in the morning as well as in evening and the duration of each voyage lasts for 47 minutes only each time.
Meanwhile, this announcement was made the same day when San Francisco city officials asked Google and other tech giants like Apple (AAPL), Genentech, Facebook (FB) and Yahoo (YHOO) who use public bus stops to pick up thousands of their employees on private shuttles to pay roughly $1 per stop per day as part of an 18-month pilot program.
City activists have accused tech companies of having created an economic divide by introducing these charter buses. The companies, on the other hand, have retorted by saying that these buses keep hundreds of cars off the roads and in the process end up reducing the level of pollution.
Google hopes to increase attendance by providing these facilities. This would lead to increased productivity and profitability for the company, going forward.
Google Inc. reported third-quarter earnings of $11.24. While CPCs continued to decline, the number of clicks increased, which along with growth at Motorola were big positives for the quarter.
Google generates revenues primarily from the sale of advertising space on its online properties. It has therefore focused on protecting and growing its position in the search market through continued innovation and quality improvements.
Google’s Android OS has gone a long way toward cementing its position in the mobile segment. Google’s acquisitions have also augmented its in-house capabilities.
To top it all, Google has shown superb execution to date that has kept the shares buoyant. As a result, its share price has appreciated 27.9% over the past year.
Currently, Google has a Zacks Rank #2 (Buy).
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