Turns out Jerry Yang isn’t the only Yahoo CEO to reject a buyout offer from Microsoft. His predecessor Terry Semel did as well. According to a complaint unsealed as part of a proposed class-action suit against Yahoo’s directors today, Microsoft offered $40 a share for Yahoo in January 2007.
The Damoclean sword of workforce reductions suspended above Yahoo will fall within the next few weeks. This according to Silicon Alley Insider, which claims Yahoo will indeed move ahead with the “emphasis reduction” it hinted at last week and sack between 1,500 and 2,500 employees.
A source close to the company tells SAI that Yahoo [...]
According to last year’s looking-ahead-to-the-year- to-come lists, 2007 was to be “a year of hyperdisruption for the technology industry.” It was to be “a year of carnage.” But it was also to be “a year of great happiness and multiple blessings.” Above all, 2007 was to be “a busy year for technology.” Which, as you’ll see below, is pretty much how it turned out. What follows is Digital Daily’s abridged guide to the year in tech news–a fond reminiscence of what was, and our First Annual Year-End List For Year-End List Haters.
Looks like Yahoo really has become more nimble following the ouster of former CEO Terry Semel. The company appears to have completed its 100-day review in half that time. Not 50 days into CEO Jerry Yang’s top-to-bottom100-day review of the company, and Yahoo is shaking up its top management ranks. In a memo to [...]
Lousy historical analogies aside, Time Warner CEO Dick Parsons’s ill-conceived comment in early May on the current media landscape (in which he compared Google to Custer) was in some ways an apt one. After all, one could say that Time Warner has long been an organization with “too many chiefs and not enough Indians.” Too many working parts, too, according to some who’d like to see the company sell off a few.
Facilities has had just a few days to pry the “Terry Semel” nameplate from the door of Yahoo’s CEO offices, and already it’s back to business as usual. This morning the company acquired Rivals.com, a college football- and basketball-focused news and community site. Financial terms of the deal weren’t disclosed, but presumably the purchase price [...]
Well, that didn’t take long. Yahoo investors, who ebulliently spiked the company’s share price in celebration of the Monday ouster / planned resignation of CEO Terry Semel, seemed to wise up a bit yesterday, reclaiming much of the stock’s overnight gains. Shares of Yahoo opened at $28.51 yesterday and fell 1.74% to close at $27.63.
Why? [...]
Turns out the “fire in the belly” with which former Yahoo CEO Terry Semel last week promised to lead the company was little more than a bit of prefigurative acid reflux. At least that’s the feeling one gets looking over the coverage of the company’s humbling management shake-up yesterday, which may have been an ouster, [...]
I resigned. I know everyone will think I was pushed.”
–Former Yahoo CEO Terry Semel, June 18, 2007
In the face of withering criticism–of his leadership, his efforts to compete with Google and his supersized pay package–Yahoo CEO Semel said today that he was stepping down to assume a nonexecutive advisory role at the company.
In a [...]
Well, what do you know: Yahoo’s annual shareholder meeting didn’t conclude with CEO Terry Semel’s head piked on the exclamation point of the Yahoo sign outside company headquarters. Nor did it end with the blackballing of the directors responsible for Semel’s grotesquely large pay package.
Yahoo’s compensation committee certainly has an interesting formula for executive-salary calculations–one based on an inverse relationship between job performance and financial reward. How else to explain CEO Terry Semel’s pay package for 2006–$71 million, despite a 60% decline in Yahoo’s net income and 35% drop in stock price. $71 million. And for what? A year [...]
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
Best video mashup ever.
A Facebook Memorial
Wow.
Worth it for the Rickrolling photo alone.
Excellent.
Flughumor!
… you vacuous, toffee-nosed, malodorous perverts
Stephen Fry and zoologist Mark Carwardine meet the kakapo — a fat, flightless and very randy rare parrot.
Spectacular in the bellowing Russian sailor sense of the word …
“If you spell something wrong on your insurance claim, do you really deserve surgery? I don’t think so …”
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