Wednesday, August 06, 2008

1/3 of Yahoo's Shareholders Vote "No" to Yang

I guess these people got burned on the lack of a Microsoft deal and are taking out their frustrations on the people who scuttled the deal. I wonder if Capital Research Global Investors (CRGI for short?) didn't raise a fuss would Yahoo have reported that 14.6% number and said that Yang had decent support? That 33.7% number looks pretty bad for a CEO.

Voters were deciding whether the two should stay on the Sunnyvale company's board of directors. At first, Yahoo had reported much lower "nay" votes for the two -- just 14.6 percent against Yang and 20.5 percent against Bostock.

New figures were released after the company (NASDAQ: YHOO) blamed tabulation errors for incorrect results. The restated counts showed 33.7 percent of the shares voted were against Yang and 39.6 percent against Bostock.

Capital Research Global Investors, Yahoo's biggest shareholder, asked for a recount because it had withheld its votes to protest Yahoo's bungled merger talks with Microsoft Corp. (NASDAQ: MSFT). Published results didn't seem to show Capital Research what it expected to see.

No comments: