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As if the getting-older-by-the-minute Yahoo Inc. (NASDAQ: YHOO) didn't need another mark against it, the internet pioneer and stubborn company recently provided information on the costs it incurred in fending off a successful Microsoft Corporation (NASDAQ: MSFT) bid this summer. The final tab: $36 million.Much of this tab was with advisory and law firms that helped the company deal with Microsoft along with a proxy battle by Carl Icahn that was settled just a few weeks ago with the installment of some Icahn puppets as board directors.
As a Yahoo! investor, are you pleased with the way Yahoo! has defended itself? Would the company be better suited for long-term success as a Microsoft division, or going at it alone as it has been?
How about the company taking $36 million from its cash pile to pay for all those consultants and attorneys? Was all the effort and expense in the best interest of the Yahoo! shareholder? Oil billionaire T. Boone Pickens doesn't think so -- but what about you?
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Reader Comments (Page 1 of 1)
8-15-2008 @ 11:53PM
e.krabs said...
This is just my personal opinion, but to me, it's an obvious waste of money.
Of course, I'm also not Jerry Yang, and it's hard for me to say why he chose this path. I've read articles speculating on his motives and reasonings, but when it comes down to it, I guess he did what he felt was the best thing to do.
Certainly, someone else in that helm woulda, coulda, shoulda done something different. Especially in retrospect.
No doubt, Yang will continue to be a subject of very close and critical scrutiny. I'd hate to be in his position right about now.
8-17-2008 @ 11:03PM
STOCKHOLDER said...
JERRY YANG HOW COULD YOU LET ICAN BRING TO THE TABLE YOUR NEW TWO BOARD MEMBERS.
THIS IS COSTING SHAREHOLDER A LOT OF MONEY AND U DON'T EVEN GIVE US A DIVIDEND.
YOU SHOULD OF GONE WITH MSFT. WORK TOGETHER INSTEAD OF SOMEONE TELLING YOU WHAT AND HOW TO DO....PLEASE INCREASE IN PRICE SO I CAN SELL MY YAHOO SHARES. YOU ARE A NO NO IN MY PORTFOLIO