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Gordon Crawford

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yahoo raid

6 reasons why Jerry Yang's wrong about Yahoo

Do we still have to pity Yahoo cofounder Jerry Yang? Or is it, at long last, acceptable to simply hold him in contempt? With Microsoft backing corporate raider Carl Icahn's replacement board of directors, and major investor Gordon Crawford also lining up to support Icahn, Yang's time at the company is coming to an end, and he seems to know it. Yet he's trying to stay on anyway. Like any leader facing certain failure, Yang has begun to indulge in pure make-believe. Here's a short list of Yang's Yahoo fantasies. More »

Feature

11:40 AM on Mon Jul 7 2008
By Nicholas Carlson
4,228 views, 7 comments

Latest by n/a: Todd, yahoo only makes about 1.1 billion in earnings a year. chump change! more »

yahoo

Pro-Microsoft shareholders control at least 29 percent of Yahoo -- does that mean the fight's over?

$30 billion hedge fund Paulson & Co. has released filings to show it owns 3.4 percent of Yahoo shares and intends to support Carl Icahn's bid to replace the company's board. Combined with Icahn's 4.3 percent share, Legg Mason fund manager Bill Miller's 5 percent share and Capital Research fund manager Gordon Crawford's 6 percent share, at least 18 percent of Yahoo's ownership now favors displacing the company's board with directors more amenable to a Microsoft merger. Capital Research funds beyond Crawford's control own another 11 percent of the company, raising that total to at least 29 percent. Shareholder activist Eric Jackson says investors owning another 3.2 million Yahoo shares favor a Microsoft merger as well. CEO Jerry Yang and chairman Roy Bostock can write all the letters they want. There's only one holdup: Getting Microsoft back to the table. (Photo by Simon Grossi)

8:20 AM on Fri May 16 2008
By Nicholas Carlson
3,477 views, 4 comments

Latest by n/a: @David - agree - Icahn is too smart of a value investor to put his money into this powder keg without a put option. more »

eric jackson

Yahoo shareholder plots July 3 revolt

Yahoo will hold its annual shareholders' meeting on July 3. Investors angry over how Yahoo CEO Jerry Yang the Yahoo board handled merger negotiations with Microsoft — paging Gordon Crawford and Bill Miller — have until next Thursday to do so by submitting an alternate slate of directors to replace the current board. Wall Street analysts don't expect it to happen, reports the Financial Times. Activist shareholder Eric Jackson, the president of Ironfire Capital, isn't listening to them, however. More »

10:20 AM on Wed May 7 2008
By Nicholas Carlson
2,420 views, 11 comments

Latest by n/a: interesting that this mtg is only a few days before they announce what will surely be a difficult Q2, marked by more "headwinds". more »

clips

Decker: We only told shareholders about Microsoft's $31 offer

Yahoo chairman Roy Bostock told reporters that shareholders supported Jerry Yang's decision to refuse Microsoft's bid for the company, even when it reached $33 per share. But yesterday, major shareholders Bill Miller and Gordon Crawford — who combined control about 13 percent of the company — said they did not agree with the way Yang handled negotiations. In this excerpt from Yahoo's own Tech Ticker, Sarah Lacy asks Yahoo president Sue Decker, "Who are these institutional shareholders who are supporting $37, $38 per share? Can you shed any light on that?" Watch as Decker explains that what Bostock really meant is that Yahoo's board supports Yahoo's board, which only really ever told shareholders about Microsoft's $31 per share offer. "And that's the end of the story."

9:20 AM on Tue May 6 2008
By Nicholas Carlson
1,344 views, 8 comments

Latest by dingdongditch: is it me or what.. i'm start to develop a crush on her.... more »

yahoo

Angry board members, shareholders forced Yang to backpedal

Suddenly, Yahoo CEO Jerry Yang is telling reporters he's "willing to listen" to Microsoft offers below $37 a share. Why the change of heart? Because Yang had a bad day Monday. Major Yahoo shareholders slammed him in the press. Employees were angry and the Yahoo board took heat, too. "I'm extremely disappointed in Jerry Yang," Capital Research Global Investors portfolio manager Gordon Crawford told the Wall Street Journal. "I think he overplayed a weak hand." Crawford also directed his ire at Yahoo's board of directors: "The independent directors were not responsive to the needs of independent shareholders." A very tenuous source tells us at least one Yahoo board member got the message and was heard venting over the phone about Yang's performance, saying, "I'm done with this ego trip shit, he's out."

5:34 AM on Tue May 6 2008
By Nicholas Carlson
2,496 views, 10 comments

Latest by Rususeruru: @dingdongditch: Ideals > Business Sense. Just a guess. more »

acquisitions

Gordon Crawford doubles down on Yahoo with $6 billion bet

At Capital Research & Management, an investment management firm and longtime Yahoo shareholder, media-savvy stockpicker Gordon Crawford has raised its stake in the company to more than 16 percent, from $4 billion to $6 billion at current prices, some time in the past three months. The stock's chart strongly suggests that his buy came after Microsoft's bid sent Yahoo shares soaring. What that means: Crawford believes Microsoft will succeed in its bid for Yahoo, but only after raising its price. That's a fair turnabout from his earlier concerns that a higher price for Yahoo would mean losses from his firm's stake in Microsoft that outweighed gains from its Yahoo position. Capital's huge bet on Yahoo means that CEO Steve Ballmer's hand is weakened in resisting calls to up Microsoft's offer.

1:00 PM on Fri Apr 11 2008
By Owen Thomas
1,735 views, 3 comments

Latest by n/a: PUBLIC FIGURE Besides, he would be nice looking without the ..whatever that is. I think I'll send him an email and see if he wants to go on a date with me. I'll strap him down, whip my comb out and force more »