Shares of Google dipped as low as $348 today , down from a high of $747 last November. Investors have taken a bath — but so have employees. Google makes up for so-so salaries with generous grants of stock options and restricted shares — but those no longer look so generous. Henry Blodget, the disgraced yet insightful former stock analyst, says both restive groups will conspire to crush Google's profit margins . Shareholders will demand more accountability for Google's spending — expect further cutbacks in perks like Google's lavish cafes, in other words — and employees will demand more cash.