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Information Technology News The full skinny: all the text, of all the letters, between Icahn, Microsoft and Yahoo!
Information Technology News The full skinny: all the text, of all the letters, between Icahn, Microsoft and Yahoo! | The full skinny: all the text, of all the letters, between Icahn, Microsoft and Yahoo! |
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| by Davey Winder | |
| Wednesday, 09 July 2008 | |
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Page 3 of 4 Our company is now moving toward a precipice. It is
currently losing market share in its "Search" function; our current
Board has failed to bring in a talented and experienced CEO to replace
Jerry Yang and return Jerry to his role as Chief Yahoo!, and currently
it is witnessing a meaningful exodus of talent. It is no secret that
Google (which hired a great operator as CEO) continues to dramatically
outperform Yahoo!. According to publicly available information,
Google's income from operations grew 59% per year over the last two
years while Yahoo!'s shrank 21% per year. However, none of the above
has caused the Yahoo! board to hesitate in paying themselves $10,000
per week. IT IS TIME FOR A CHANGE.Featured Whitepaper
5 Best Practices for Smartphone Support
-- Immediately start negotiation with Microsoft to sell the whole company or, in the alternative, sell "Search" with large guarantees. -- Move expeditiously to replace Jerry Yang with a new CEO with operating experience. This was followed by Microsoft which issued the following statement, in support of the Icahn position, later the same day: source In the past week, we have had the opportunity to discuss with Carl Icahn the prospects for a possible agreement between Microsoft and Yahoo. Despite working since January 31 of this year, as well as in the early part of last year, we have never been able to reach an agreement in a timely way on acceptable terms with the current management and board of directors at Yahoo. We have concluded that we cannot reach an agreement with them. We confirm, however, that after the shareholder election, Microsoft would be interested in discussing with a new board a major transaction with Yahoo, such as either a transaction to purchase the "Search" function, with large financial guarantees or, in the alternative, purchasing the whole company. CONTINUES ON NEXT PAGE |
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