Monday, November 17, 2008

Yang is Out at Yahoo

At last it might even be safe to own the stock again.

Yahoo Inc. co-founder Jerry Yang is stepping down as chief executive, ending a rocky reign marked by his refusal to sell the Internet company to Microsoft Corp. for $47.5 billion -- more than triple Yahoo's current market value.

Too bad there is currently a slowdown in online advertising spending but I think MSFT may come sniffing around the carcass now that they have an "Under New Management" sign up. Too bad they will probably get quite a discount on their new offer. You can forget $31 a share but maybe they could get $15-20 a share.

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