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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 »
yahoo
Humbled Yang disavows high-fives, says he was "very happy" to deal with Microsoft
Yahoo CEO Jerry Yang has not been replaced by chairman Roy Bostock, Kara Swisher reports. Yang's reputation, however, has taken a severe tarnishing. How far has his reputation fallen? More »
jerry yang
Yahoo can find its way, but only if it stops searching
Jerry Yang's spin campaign about why the Microsoft bid fell through is transparent. He's not trying to cajole Steve Ballmer back to the negotiating table; he's trying to cover his rear and appease indignant shareholders. The only reason he's so open about accepting a new bid from Microsoft, I think, is that he's not expecting another one to come. Ballmer has more or less said he thinks that Yahoo is worth less and less every day; last Saturday, when Yang flew up with cofounder David Filo to meet with Ballmer one last time, was as close as the two will ever get to agreeing on Yahoo's worth. The thing is, unless Yang makes some dramatic shifts, Ballmer may well be right. More »
1:40 PM on Tue May 6 2008
By Owen Thomas
2,051 views,
7 comments
Latest by FungibleMind: @feeldumb "Google would have much more well targeted information from their search data than Yahoo! will ever have." Wrong. Yahoo! has as good or better data than Google in both depth (length of time) and breadth (services, media, platforms), 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."
jerry yang
Yahoo execs want cheerleader Yang back on the sidelines
According to the New York Times, when Yahoo CEO Jerry Yang and his team were told that Microsoft was walking away from its $47.5 billion offer to buy the company "high-fives were exchanged." Today, analysts expect Yahoo's value to plummet to $30 billion. Gimme an O! Gimme an O! Gimme a P! Gimme an S! — Yahoo employees, many of them suddenly poorer, told Kara Swisher they want Yang back on the sidelines where such cheerleading belongs. Yang's high-five display "shows a complete lack of connection to the balance of the company," one Yahoo exec told Swisher. Another told her:Jerry could become chairman, Sue [Decker] could remain President and then someone who can really charge in and make drastic change could be CEO.Swisher goes on with more horrified outtakes from Yahoo execs, but first — everybody say it with us, now — Up high! Down low! In space! In your face! More »
nerdfight
Ballmer to Yang: How stupid are you?
Even when Microsoft CEO Steve Ballmer tries to sound polite, he manages to be rude. His thank-you-very-much letter to Yahoo's Jerry Yang declining to make an offer for Yahoo is no exception. In particular, Ballmer rails against Yang for considering outsourcing search advertising to Google, saying it will cause Yahoo's engineers to flee and raise prices for advertisers. "By failing to reach an agreement with us, you and your stockholders have left significant value on the table," Ballmer concludes. If I were Yang, I would read this and wonder why I ever even contemplated getting into business with this guy. The full letter: More »
Yahoo's $37 demand talks, Microsoft's $33 offer walks
Microsoft CEO Steve Ballmer heeded our advice and walked away from a bid for Yahoo. Did he dodge a potentially career-ending bullet? "The talks broke down this afternoon after a face to face meeting in the Seattle area that included Microsoft CEO Steve ballmer, Microsoft exec. kevin johnson, and Yahoo co-founders Jerry Yang and David Filo." [All Things Digital] (Photo by Yodel Anecdotal)
acquisitions
Yahoo prepares to give Google 80 percent of the search ad market
As soon as Microsoft CEO Steve Ballmer makes his next move, Yahoo could announce a plan to serve Google ads against Yahoo search results, the Wall Street Journal reports. Yahoo and Google tested such an arrangement in April and it went well enough that Yahoo CEO Jerry Yang believes a longer term deal will appease shareholders enough to keep Yahoo independent.More »
Microsoft owes Jerry Yang $3,000
The California State Controller's Office shows that Microsoft owes Yahoo CEO Jerry Yang $3,008.46 in unclaimed dividend checks. The software giant has apparently been mailing the checks to Santa Cruz instead of a Yahoo office in Santa Clara. Is that why Yahoo hasn't yet responded to Microsoft's bid? [Forbes]
The California State Controller's Office shows that Microsoft owes Yahoo CEO Jerry Yang $3,008.46 in unclaimed dividend checks. The software giant has apparently been mailing the checks to Santa Cruz instead of a Yahoo office in Santa Clara. Is that why Yahoo hasn't yet responded to Microsoft's bid? [Forbes]
caption contest
On the firing line
Yahoos David Filo, Jerry Yang, Sue Decker and Blake Jorgensen watching All Hands, the Movie last week. Suggest your caption in the comments; the best will become the new headline. Yesterday's winner: WagCurious, for "Don't smell evil." (Photo byYodel Anecdotal)
clips
Yahoo makes even tipping Valleywag look complicated
Yes, the leaked copy of Yahoo's All Hands, the Movie we received this afternoon features a scene where Trent Herren of international operations discovers client strategist Ian Kennish is a Valleywag leaker. But leave it to the folks in Sunnyvale to think we have some special, complicated web site for leaks — when really, all you have to do is send us an email. Full video, including infrastructure EVP Ash Patel cleaning the cube of incredibly messy co-founder David Filo, after the jump. More »
valley spawn
Quick, Ballmer, make your offer while Yang's busy caring for his newborn daughter
Yahoo CEO Jerry Yang Yang's wife, Akiko Yamazaki, gave birth to the couple's second daughter this week. BoomTown's Kara Swisher reported the news, citing sources close to the company, and then warned Microsoft CEO Steve Ballmer to "give Yang a break and back off, at least for today." For Yamazaki's sake, we hope Ballmer ignores this advice and takes an upped offer to Yahoo shareholders today, while Yang's too busy in the maternity ward to fend it off. Without a job, Jerry will have no excuse to ignore the 4 a.m. wailing.
microsoft
Yang declines to deal, so when do we get our cage match?
Saturday's deadline for Yahoo to respond to Microsoft's takeover overtures has come and gone. On April 5, Microsoft CEO Steve Ballmer promised Yahoo CEO Jerry Yang that if that happened, Microsoft would "take our case directly to your shareholders, including the initiation of a proxy contest to elect an alternative slate of directors for the Yahoo board." Which is exactly the kind of action we need around here. So when can we expect the scrum to start? Microsoft executives hope not soon — or ever. More »
acquisitions
Microsoft's rank and file begin to wonder what's so great about Yahoo, anyway
Yahoo CEO Jerry Yang's delay tactics may be working. Microsoft employees are more opposed to merging with Yahoo now than they were when CEO Steve Ballmer first made his offer in February. Some of these wary employees are leaving Microsoft, "rank-and-file workers and executives" told the Wall Street Journal. More »
microsoft
Ballmer shows Yang his carrot one last time
First Microsoft CEO Steve Ballmer wielded the stick — promising two and half weeks ago that if Yahoo's board failed to begin merger negotiations by this Saturday, he would take his $31 per share offer to buy Yahoo straight to its shareholders. Now comes the carrot. Ballmer has let sources make it known that he's likely to increase his offer if Yang and the board will agree to begin formal discussions, reports the New York Post. (Photo by DBegley)
crime
Google and Yahoo being investigated by Justice Department for antitrust violations
The Justice Department has begun an antitrust investigation into Yahoo's test of Google's search advertising technology according to an anonymous source cited by Reuters:The source, who spoke on condition of anonymity, said that some of the government's concern focused on a telephone call from Google Chief Executive Eric Schmidt to Yahoo Chief Executive Jerry Yang to offer help in thwarting Microsoft's $44.6 billion bid.Microsoft has to be giggling like The Joker if Schmidt's attempt at swooping in like Batman leads to a date with Gotham City D.A. Harvey Dent.
acquisitions
