It seems that Jerry Yang is committing financial suicide with Yahoo’s stock price, having forced the stock price to its lowest level since 2003 (just when the stock price was rising from the internet bubble of 2000).
Today, rumors abound that Yahoo is going to layoff at least 1,000 of their over 14,000 employees. Apparently, having to compete with Google for talent has driven Yahoo to inflate management titles and salaries in a disgraceful display of sheer incompetence.
October 21st, 2008 at 11:11 am
$31 per share from MSFT seem like a bonanza now. This is what happens when executives don’t give a shit about best interests of shareholders. Prime example of ‘the principal-agent problem’. Should CFO’s be more vocal when company is being guided by unrealistic ambitions of executives rather than best interests of shareholdes?