Pedal to the Metal, says Chief Yahoo

The Yahoo! (YHOO-NASDAQ) soap opera has not been too distracting for those of us who tuned it out. And although the stock will revisit the lower end of its recent trading range tomorrow, Jerry Yang does not seem to broken up about it in his most recent blog post. Which is strange, considering he will personally lose millions on paper at 9:30 AM:

So, what’s next? With Microsoft’s withdrawal, we’ll be better able to focus our energy on growing our industry leadership and maximizing value for stockholders. We’ll continue to execute on our plan — making your Internet experience as personal, relevant, open and social as possible, serving advertisers so well they insist on working with us, and opening up Yahoo! in a way that developers dream of. And, we’ll also continue to pursue strategic opportunities that position us for long-term success....Frankly, there’s a lot of nonsense and misinformation in what’s being reported. Just so we are all clear, here’s what happened. The board took its mission very seriously. We clearly indicated to Microsoft that we were open to a transaction but only if it were on terms that fully recognized the value of Yahoo! and was in the best interests of our stockholders. Jerry Yang's Yodel Anecdotal

Of course, shareholders are already up in arms over the situation, and are not waiting for trading to open before launching their offensive. Thankfully for Eric Jackson, whose grassroots activist campaign last year helped Terry Semel find his way back home to Hollywood, Round Two with Yahoo! promises to be more fun than Round One. Jackson already has an Iron in the Fire, and plans to speak loudly while carrying a big hot poker:

Dissident Yahoo Inc shareholder Eric Jackson said on Sunday he plans to urge Yahoo shareholders to withhold votes from all directors at their annual meeting because the company failed to cut a deal with Microsoft Corp .

“Significant value was left on the table yesterday at the meeting in Seattle,” Jackson said in a phone interview, adding that he and several other shareholders were surprised and disappointed at the outcome of the talks.

“Shareholders didn’t even get a chance to vote on the deal, but the board negotiated on our behalf and not in good faith,” Jackson said.

“The bottom line is that shareholders need some new representation,” said Jackson, who plans to launch his campaign via the Internet in the next few days. Breakout Performance Blog

Wall Street’s favorite parlor game this weekend has bee guessing how bad Yahoo! will get hit tomorrow; I am looking for the stock to settle in around $22.90 when the dust settles, a prediction that no doubt could look as foolish as Jerry Yang himself.

S&P 500 stock index futures are trading down about 7 points at 2AM EST, give it a few hours and we will have a few better idea where the stock will open.

Ok, so now what?
Yodel Andecdotal

Dissident Yahoo shareholder plans vote campaign
Eric Jackson’s Breakout Perfomance

Jackson is going on the offensive; his newest video should be out shortly. Here is the last one he taped, approximately two months ago when Yahoo! first stonewalled Microsoft:

---------------------------------------------------------------------------------------------------------------------
The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.

Comments:

<< Back to main