Google’s Schmidt: No Worries About Antitrust Action; Market Meltdown? Isn’t That Just New York?

Google CEO Eric Schmidt said the company has given antitrust regulators enough time to examine its search ad pact with Yahoo (NSDQ: YHOO) and any further delay could cost the two money, NYT reported. His only elaboration on that point seemed to be “Time is money in our business” but he insisted “the partnership will move full-steam ahead early next month.” Still, the U.S. Justice Department doesn’t operate on Google’s timetable and has hired high-profile antitrust lawyer Sanford Litvack to help determine if officials should block the deal — and possibly go after Google for antitrust a la Microsoft..

Investment advice: move to Silicon Valley: Speaking of money, the impact of this week’s market meltdown isn’t likely to be felt in Google’s neck of the woods, Schmidt opined. As he has said before, Schmidt feels that Google is well-positioned to withstand the fallout from an economic downturn. As for the Dow Jones (NYSE: NWS) freefall, Schmidt said he guesses that the drama is mostly in New York, not Silicon Valley.