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yahoo raid
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Yahoo Raid
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yahoo raid
corporate governance
Nearly 1 in 5 Yahoo investors followed Valleywag's voting instructions
There's some kerfuffle about the voting in Yahoo's board election — something to do with whether some large investor voted or not. We don't care! What really pleases us is that the four board members we suggested get the boot — Roy Bostock, Art Kern, Ron Burkle, and Gary Wilson — scored the lowest in the vote. More »
t. boone pickens
"I think that Yahoo management was pathetic"
Oil billionaire T. Boone Pickens told the San Francisco Chronicle that he's given up on a Yahoo/Microsoft deal, and has sold his shares at an undisclosed loss. But let's be clear: Pickens is not a technology investor. He invested in Yahoo because he believed Carl Icahn had a workable plan, and that chief Yahoo Jerry Yang would make it happen. (Photo by AP/Frank Franklin II)
yahoo raid
Yang paves the way for ex-AOL CEO Jon Miller to join Yahoo board
In an entirely punctuated memo posted to Yahoo's corporate blog and the SEC, Yahoo CEO Jerry Yang — or his ghostwriters — declared that yesterday's agreement to give corporate raider Carl Icahn three board seats and avert a proxy fight allows Yahoo "to get back to the business at hand." But while Yahoo will soon enough be able to focus on doing what it does best — losing market share to Google and talent to startups — Yang and the board still have one more task at hand: filling out its expanded board with Icahn-approved nominees. Bet that one of the names will be fired AOL chairman and CEO Jon Miller. Though not included on Icahn's original slate of alternative directors, Yang mentioned Miller by name in his memo as a potential new board member.
yahoo
Jerry Yang's Olympic dreams
With the Icahn business settled, Jerry Yang can move on to more important questions: For example, is he going to the Beijing Olympics? A week ago, he hadn't quite made up his mind.The dithering was utterly characteristic for the perennially indecisive Yahoo cofounder. But you'd think he could commit to a no-brainer like attending the Games. Yang is a Taiwanese native, and no fan of the Communist regime — China's jailing of a blogger, aided by Yahoo China's handover of email records, led to a humiliating session where he was called to the carpet in front of Congress. But the Beijing Olympics is a seminal event in the rise of Asia, where Yahoo has significant investments — one of the few areas where it has an edge on Google. More »
yahoo raid
Proxy fight over: Yahoo gives Icahn three boards seats for his trouble
There will be no proxy fight at Yahoo's annual shareholder meeting this August 1. Today, Yahoo and corporate raider Carl Icahn agreed to end the fight by awarding Icahn three seats on an expanded, 11-member board. Icahn, who owns 5 percent of Yahoo, told the Wall Street Journal he still wants Yahoo to sell — either the whole company or just its search business at the right price — but that "I share the view that Yahoo's valuable collection of assets positions it well to continue expanding its online leadership and enhancing returns to stockholders." More »
yahoo
Chipper Yang's latest memo: "Hi guys!"
Legg Mason portfolio manager saved Yahoo CEO Jerry Yang's job this morning, and far be it from the always-exclamatory Yang to hide his relief. Yang recorded a companywide video address, and reading a transcript filed with the SEC, we can't help but wonder if Yahoo's lawyers missed a few exclamation marks. "Hi guys," the transcript begins — but we're betting it sounded more like "Hi guys!!!!11!!!!" More »
yahoo raid
Why Carl Icahn doesn't have a Yahoo CEO
If corporate raider Carl Icahn ever had any hope of convincing major Yahoo shareholders like Legg Mason's Bill Miller to back his alternative slate against the Yahoo board in a proxy fight, he needed a plan B in case a sale to Microsoft didn't work out. As Kara Swisher puts it, he needed "a solid management team and a cogent plan." For two reasons: One, because without an alternative to a merger with Microsoft, Microsoft would own all the chips in any merger negotiations. Two, by not naming a replacement Yahoo management team, Icahn left major shareholders with the impression that he himself would control the company after winning a proxy fight. Shareholders are unhappy with Yang & Co., but they tell Swisher that "taking such a major step as dumping them and leaving the company in Icahn’s hands — even for a short time he will be there — is decidedly more risky." So if it was so important that he do so, why didn't Icahn ever name a nominee for Yang's job? Because he was caught in a classic Catch-22. More »
10:40 AM on Fri Jul 18 2008
By Nicholas Carlson
1,494 views,
6 comments
Latest by greenstench: Mark Cuban is a windbag and I'd never have given him a dime. I wish he'd just go away with Icahn't. more »
yahoo raid
Yahoo uses its own front door to battle Icahn
Yahoo has posted a big purple link to its anti-Carl Icahn website on the front door at Yahoo.com, with a rotating set of teasers including an Icahn quote, "It's hard to understand these technology companies." Wow, they're just like bloggers who post the letters lawyers send them! But seriously, by using its reach to deliver its own insidery message to shareholders, Yahoo is finally acting like a mainstream media company. Icahn may find tech companies hard to understand, but he's probably figured this out today: He's fighting in public with an opponent whose daily audience dwarfs CNN and the Wall Street Journal. Here's a closeup: More »
yahoo raid
