Posted on 11/06/2008 5:13:42 AM PST by dennisw
The global financial crisis and US election created a convenient distraction for Yahoo, and that proposed ad deal with Google seemed to have put an end to those Microsoft acquisition rumours. Now the deal is off, and Microsoft is still insisting it doesn't want to play ball again, the pressure is back on chief executive Jerry Yang.
This is "vehemently denied" by Yahoo, says VentureBeat's Matt Marshall, but he has reported an internal Yahoo memo that says Yang is on his way out. Could the collapse of the Google ad deal have been the last straw?
The memo said a major announcement was scheduled for yesterday to reveal that Yang "Yang has agreed to leave his post effective today and that Yahoo is again in late-stage talks to sell the whole company to Microsoft".
And though that seems logical after the failure to secure an agreement with Microsoft over the takeover and the increasing frustration from Yahoo shareholders about the state of the firm, it also has more than a whiff of mischief, and of trying to manipulate the Yahoo share price.
Yang himself was speaking at the Web 2.0 conference yesterday - just as it was announced that Google had stepped away from the deal. And he seemed to be back on Microsoft's doorstep, reported CNet.
"To this day, I have to say that the best thing for Microsoft to do is to buy Yahoo," he told the host John Batelle.
"I don't think that is a bad idea at all... at the right price, whatever the price is, we are willing to sell the company. But at the end of the day, they withdrew and they since have been very clear about not wanting to buy the company."
(Excerpt) Read more at guardian.co.uk ...
OK so Yahoo is his baby
Still he screwed millions of Yahoo stockholders by not accepting Microsoft’s offer a few months ago in the 30s
Not accepting the MSFT deal, and then trying to compound the error by making Yahoo dependent on Google, is only the last of a long string of messed up investments and missed opportunities. MSFT warned him that the Google linkup would destroy much of the value of Yahoo for them, but he’s trying to do it anyway.
Here’s the clincher: Do you know he was approached to buy Google some 5 or 8 years ago for $2 or $3 billion in stock and turned them down?
I bet Yahoo! Stockholders want to skin him alive for turning down a great deal based on his ego and greed.
Thanks for that info-— Do you have any idea how much Yahoo stock Jerry Yang owns? He is not a top holder from I can see.
I don't know exactly, but its probably around 50 to 70 million shares. I was too lazy to get the exact number, which you would do by going to the SEC Edgar website and looking up the current Yahoo proxy. Instead I typed in Yang's name and Forbes 400. He came up as being worth about 1.9 billion in September of 2007, when the stock was in the 25 to 28 range.
The info I referred to in my post was from a fairly lengthy table in the Wall Street Journal several months ago, during or slightly after the Microsoft dance. It might be on-line if you look. There were at least 10 transactions, all expensive and bad, with failing to buy Google when it was available, and then blowing off Microsoft as clearly the most expensive.
I’m surprised more topics with “idiot” in the title didn’t show up. ;’)
So long, suckers. Millionaire hedge fund boss thanks ‘idiot’ traders and retires at 37
The Guardian | October 18 2008 | Andrew Clark
Posted on 10/20/2008 8:31:07 PM PDT by Mr. Mojo
http://www.freerepublic.com/focus/f-news/2110851/posts
So long, suckers. Millionaire hedge fund boss thanks ‘idiot’ traders and retires at 37
http://www.guardian.co.uk/business/2008/oct/18/banking-useconomy
Posted on 10/21/2008 9:50:06 AM PDT by Orange1998
http://www.freerepublic.com/focus/f-news/2111268/posts
So Long, Suckers.
Millionaire Hedge Fund Boss Thanks ‘Idiot’ Traders and Retires at 37
The Guardian (UK) | 10/18/08
Posted on 10/22/2008 6:03:12 PM PDT by marshmallow
http://www.freerepublic.com/focus/f-news/2112716/posts
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