Billionaire boy bozo Jerry Yang finally steps down

Yahoo Inc. co-founder Jerry Yang finally faced the music and decided to step down as CEO.

Boy billionaire Yang, as the whole world remembers, had more than a rocky 2008. This year was punctuated by Yang's absolute foolishness and stupidity by his refusal to sell YHOO to Microsoft Corp. for $47.5 billion -- more than triple Yahoo's current market value.

And get this, Jerry had the audacity of saying the following via a statement today: ""I will continue to focus on global strategy and to do everything I can to help Yahoo realize its full potential and enhance its leading culture of technology and product excellence and innovation."

If you want to see how Jerry Yang destroyed YHOO shareholder value, go here.

The following CNET poll got it right when Jerry decided he needed his old job back.

Jerry Yang Continues to Hate Microsoft and Yahoo! shareholders. The end.

As reported on ThinkBillion$ here, here, and here, Boy Billionaire, Yahoo! co-founder, and Microsoft hater Jerry Yang has now totally and officially jumped the financial shark with his rejection of any and all things Microsoft.

The only thing we could approriately conclude with here is with Michael Arrington's piece in TechCrunch, ("Massive Destruction Of Shareholder Value, Employee Morale and Internet Balance Of Power") reporting the whole affair this way: "I don’t believe that there is anything Yahoo could do at this point to further destroy their business that would surprise me."

YHOO ended today's trading at $23.47 a share, down 5 cents.


article -

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Billionaires bullish on Yahoo!

First Microsoft, then Carl Icahn and now T. Boone Pickens. Who's next?

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YHOO


update -

Icahn Gets Green Light For Yahoo Stock Purchase

Jerry Yang, Yahoo billionaire, tells both Microsoft and his own shareholders to "get lost!!!"

Jerry Yang, of Los Altos, CA is 38 years old, worth $1.9 billion (according to Forbes) and is the 261st richest person in the United States of America.

This weekend he has told both Microsoft and his own shareholders to "get lost!!!"

As the whole world now knows, Microsoft has abandoned the Yahoo bid after sides can't agree on acceptable sales price

SEATTLE (AP) -- Microsoft says it's dropping its three-month-old bid to buy Yahoo because the two sides can't agree on an acceptable sale price.
Microsoft Chief Executive Steve Ballmer says in a letter sent to Yahoo on Saturday that the software maker was willing to pay $47.5 billion for Yahoo. That's $33 per share.

Ballmer says Yahoo insisted that Microsoft pay at least $53 billion. That's $37 per share.

We, think this is absolutely insane. Jerry Yang is taking an anti-capitalistic, anti-shareholder approach to this proposed buyout. He clearly believes in a eastern Asian philosophy that corporations are made for its employees, not the shareholders. This is very anti-Think Billion$ as well, since Jerry clearly believes that he should be the billionaire and not anybody else. Good luck Jerr. Good luck in managing investor lawsuits in the upcoming months.


Yahoo CEO Jerry Yang on hot seat after rebuffing Microsoft's $47.5 ...
By MICHAEL LIEDTKE , AP SAN FRANCISCO - Yahoo Inc. Chief Executive Jerry Yang has gotten what he wanted:

Jerry Yang - Yahoo 2.0

Billionaire and Yahoo! co-founder, Jerry Yang is back in the CEO chair at Yahoo!

There's a million stories on the web today about Jerry and this corporate shake-up, including this one: "Jerry Yang: from immigrant to global leader." So why don't you give Yahoo! some business and search for them!

Search: YAHOO!

So, Terry Semel is out at Yahoo. There's lots of reasons for this decision and the dissatisfaction from Wall Street investors is just one of them.





How will this board of directors led decision fair? Some writers are not hesitating to express their displeasure.

CNET Excutive Editor Charles Cooper writes: "Yahoo blows its big chance." And, if that wasn't enough, the early results of a CNET Instant Poll shows much skepticism relative to Jerry's return for CEO Part II.












Nevertheless, we wish Jerry Yang the best of luck back in the CEO chair at Yahoo!

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