Larry Page

Investors of Google Inc are increasingly getting concerned over the rising expenses incurred by Larry Page, a current CEO of the Mountain View giant, in a move to boost the revenue growth. Shares of the company declined more than 5% as investors are focused on the rise in expenses to $2.84 billion.

Thus, a 29% increase in net revenue lost its significance as the funds are planned to invest in increased hiring, company-wide salary raises, and in everything from marketing to technology.

In its move to reorganize for being better equipped to challenge Facebook-likes in the social networking industry Google is replacing Eric Schmidt with a co-founder Larry Page to take the CEO seat in the company. Meantime, Schmidt will be appointed to the position of executive chairman. Google, in turn denied any “reaction to competitors” explaining its actions. The news came from the company as it had posted better than expected quarter earnings.

Groundswell Productions and producer John Morris bought the movie rights to Ken Auletta’s 2009 book Googled: The End of the World As We Know It, according to Hollywood.com. They will use the book as the blueprint for a feature film that tells the story of Google founders Sergey Brin and Larry Page and the fast rise of the juggernaut web business that made them billionaires.