Google Seeking Exception

Here's an interesting tidbit from Seattle PI:

Google Inc. is facing a hurdle other companies would love to confront: how to get better returns from investing its cash hoard without being regulated as a mutual fund.

Companies whose securities make up more than 40 percent of their assets can fall under restrictions that govern the mutual fund industry. So Google, which has increased its cash and securities to almost $10 billion since its 2004 initial public offering, asked the Securities and Exchange Commission late last month for an exemption.

What do you think - should companies be able to bend the rules to ensure better returns? My jury is still out, but this story proves just how much clout Google can and will pack.