Google isn't that impressed by the challenge Microsoft has posed so far -- but it's bracing for what may come.

Those were two of the distinct impressions left by George Reyes, the search giant's chief financial officer, at a Credit Suisse First Boston investment conference last week.

Answering questions from the audience, Reyes addressed such subjects as Google's cash balance, its employment growth and its competitive landscape.

In the process, he provided a rare glimpse inside the company's competitive mindset, and its feelings about its Redmond rival.

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