- Sunday, 15 November 2009
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We had no immediate use for the silicon fabrication plant where memories were made and had to shut it down - Andy Grove - Only the Paranoid Survive
Yahoo not under Volish siege
YAHOO CEO JERRY YANG has confirmed that Microsoft is no longer interested in buying his company but is looking at other relationships.
Speaking to AP, Yang said that his company is not under Volish 'siege', but Steve Ballmer was negotiating other forms of partnership. He added that the Yahoo board was listening to such overtures.
Had Ballmer wished, it could have taken a "much more hostile" tacK and tried to oust the Yahoo board of directors, he said.
Yang pointed out that it was Vole not Yahoo, which walked away from the bargaining table.
Mind you he has to say that. He is currently facing a shareholder revolt over his handling of the deal. Shareholders are miffed that Yang's handling of the bid cost them millions.
Yang said that Microsoft still had an interest in Yahoo and with the right circumstances, not only price, the board was open.
Icahn has nominated a Microsoft-friendly slate, which includes him, to replace all ten Yahoo board members at elections to be held at an annual meeting in late July. µ
L'Inq
AP
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Yang is a joke - he has cost the owners of the company Billions of dollars. First he said a 60% increase in share price (the first MS offer) was not a reasonable valuation; then took a ridiculous bargaining position of $37/share (knowing MS wouldn't take it).

He has postponed the board meeting and played around with the dates to make it difficult for anyone to launch a proxy bid. He absolutely cooked the future estimates just prior to the MS negotiation in a transparent attempt to drive up the MS offer (even the analysts laughed at this), and he has continuously leaked out news/rumors to keep himself in power.

He no longer owns the company - the second he decided to cash out by taking the company public and pocketing millions, he forfeited all his rights of ownership (save what stock he owns). I truly hope he is sued and removed from the board - this was a $19 stock that apparently was too good for a $33 offer? Any chances Yahoo sees $33 in our lifetimes?

As much as I dislike MS, I would love for Balmer to come in and offer Icahn, et al. a $28/share offer and tell the stockholders to go ask Yang where the other $5 went.
Icahn only surmiser, that Mr. Hales' guesses about old duffers yesterday, carrions today:

"It never ceases to amaze us that the prognistications of some old duffer in a high-rise office somewhere influence what punters do with their wallets. Does the old duffer know something?"
http://www.theinquirer.net/gb/inquirer/news/2008/05/28/chip-makers-stocks-fluctuate-eu

Although we have not heard the familiar ka-ching, we are also waiting for the other shoe to drop.
yīnyáng.
Today we are in the shady yīn [yin] of a beachside resort of Carlsbad's watering place. (Or perhaps: Carl is bad and needs a heavily fortified cuppa and a bit of a lie down in the shadow cabinet). 
Soon the Summer sun will bring a Sunnyvale yáng [yang] to dispositions. If we take a Shine too, we wouldn't want to be like yew (or some other of Alan Parsons' Projects).

All in all, it is quite the very lively forum for irreverent takes on IT with a unique style that leaves one thirsting daily; albeit completely satisfied with cutting, biting intrenchant airs.

Any Vole-N-Tears to dance the INQ bump? Snooker's the game. Don't burn your jiggers. They're all blimey billionaires.
This is how it works in the world. CEO's who perform the worst are given the highest pay. They NEVER follow shareholder's wishes. It is a big game to them. When they step down, they get an immense, multi-milion dollar bonus.

amazing how crappy a board is and how great a company can be.
The problem with society today is that the 'shareholders' are nothing better than pimps, while the companies are just whores who have to bend over and take it so the pimp gets his money.
Scruples? Ethics? Never heard of either.

We live in a very sick society...