Distracted by travel and other projects, I have not been keeping tabs on Google as I should have. The luster has certainly faded from this deal since the early days after the initial filing. Here are some thoughts on the most recent developments:

* The WSJ ($) is reporting on the postponement of Google's IPO by at least another day. No one knows the cause of the delay. It could be relatively innocuous, like a failure to provide the SEC with all necessary information. Or it may be the result of Google scrambling for more bids (see more below). In any event, Google's registration statement is not yet effective.

* The Playboy interview with Larry and Sergey (entitled "Google Guys") caused a stir because of several false statements, and Google filed the interview with the SEC last week as an appendix to its seventh emendment of the registration statement. The interview was conducted a week before the IPO filing ... what were they thinking?! Really dumb.

* Google's failure to register the sale of 23 million shares and 5.6 million options still has John Palatto up in arms: "But I seem to recall that people usually get arrested, prosecuted and sentenced to prison for selling unregistered stock." No, not usually, John. Let's not get carried away on this anti-Google tide.

* I have been bearish on the Google IPO from the beginning, partly because I assumed that the hype and the auction format would inflate the initial offering price and partly because I don't like the business model. Google was criticized for the aggressive pricing of its IPO, and now, some are saying that Google is having a difficult time generating enough bids. Other reports suggest that Google will not be able to price in the projected range.

* And as if things were not bad enough for Google, the market for internet stocks has been tanking.

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