jerry-yang

Jerry Yang in New York talking AOL deal

Owen Thomas · 10/08/08 01:11AM

The much-talked-about talks between Yahoo and Time Warner to unload AOL? They're definitely on, says a tipster, who also claims Yahoo CEO Jerry Yang and President Sue Decker are in New York trying to cajole Time Warner CEO Jeff Bewkes into a deal before Yahoo announces third-quarter earnings later this month. Any Manhattan stargazers care to keep an eye out for him? Update: Kara Swisher now reports Yang has been in New York recently, but not, as our tipster claims, this week She also has lots and lots and lots of speculation about who will run a merged AOL-Yahoo.

Mad Men's Don Draper lends dated persuasion to Yahoo's ad platform pitch

Melissa Gira Grant · 09/24/08 02:20PM

Adding some actual potency to Yahoo CEO Jerry Yang and president Sue Decker's pitch to Madison Avenue this morning: Jon Hamm, star of AMC's weekly ode to the world of 1960's ad guys, Mad Men. Yang and Decker were likely hoping Hamm's shine would rub off on them, just by having him in the room this morning to deliver lines like "what my friend Jerry Yang is about to share with you will rock the advertising world in the same way that radio and television did way back when."Likening APT (née AMP, née Project Apex, before its name was "awesomeized"), Yahoo's too-little-too-late ad platform, to the scotch-soaked, cigarette hazy halcyon days that Hamm's presence would evoke can only remind those potential ad buyers of how the business really isn't anymore. Like Yahoo's golden era, it, too, has passed, no matter how many smoke rings management attempts to wreath their current missteps in. As Don Draper said in his most famous pitch, clipped above: "Nostalgia literally means the pain from an old wound."

Mr. Icahn is here for dinner, Mr. Yang

Nicholas Carlson · 09/22/08 10:00AM

It's not often in life that you have to share a cordial dinner with someone who just a few months before publicly called for your job. But that's what Yahoo CEO Jerry Yang gets to do tonight. Back in June, corporate raider Carl Icahn said that if he were to be given control over Yahoo, he would "hire a talented and experienced CEO (attempting to replicate Google's success with Eric Schmidt) to replace Jerry Yang and return Jerry to his role as Chief Yahoo." Icahn never gained control of Yahoo, of course, but he did win three seats on an expanded board — one that will meet for the first time this week. The group will meet twice this week, sources told the Wall Street Journal. First for dinner tonight and then for a meeting tomorrow. Other than an update on the on-again-off-again merger negotians between Yahoo and Time Warner, sources won't say what the board will talk about tonight or tomorrow. We already know, however, how Yang's body language will look if things get hostile.

Why Yahoo's purple marketing fails

Nicholas Carlson · 09/16/08 12:20PM

Yahoo's new marketing push tells us to "Start Wearing Purple." A website created for the campaign features a video of various grungy-looking people, including Yahoo CEO Jerry Yang, wearing purple and hollering. We'd show you the video, but it's not very different from a clip a tipster found of Yahoo cofounder David Filo and top exec Ash Patel dancing awkwardly to a Kelly Clarkson cover. The pair flail around like they're in some kind of bizarro-world Apple iPod commercial. That's the problem with Yahoo: It thinks it's an iPod — universally loved and carried around. But it's really a Mac — a fine product nevertheless rejected by many.Click to view Yahoo, triumphant over a host of other wannabe Web portals in the '90s, resurgent in the early part of this decade, has never really gotten used to not being No. 1. Apple, for all its arrogance, recognizes that the Mac is not the best-selling PC brand. Yahoo's marketing department should spend all its time explaining to Internet users why they should use Yahoo instead of its competitors. That's what Apple does with its "Mac vs. PC" ads. Each commercial humorously sticks to its talking points comparing the advantages of Macs over PCs. Apple does this because it remains far behind in the PC market and needs to convince customers to switch from more popular products. That's what Yahoo needs to do in search. But instead of saying why users should, it markets itself the way Apple markets the iPod — as a ubiquitous aspect of a certain way of life. Apple can do this because it already dominates a market full of similar digital music players. A better product helped sell the iPod to the masses. But an advertising campaign which keeps people associating themselves with the brand reinforces Apple's dominance. Yahoo doesn't have that luxury. It still dominates, but in tiny niches. It needs to say why Yahoo News is better than Google News and the New York Times. It needs to say why Yahoo Fantasy Sports games are the most popular on the Web. It needs to say why anyone who owns a digital camera should upload their pictures to Flickr, not Facebook. But instead, Yahoo spends all it's time trying too hard to convince users how wonderfully wacky it is. What's tragic about that is that the brand Yahoo is trying to create isn't particularly attractive. Look, it screams, we're so desperate to be seen as kooky kids, we're willing to hit our top executives in the face with rubber balls! Perhaps the real target of the campaign is Yahoo's own employees. Morale is in the dumpster at its Sunnyvale headquarters. "Bleeding purple," Yahoo's longtime catchphrase for displaying loyalty to the company, has come to refer to the endless exodus of employees. Wearing purple may boost the mood of longtime Yahoos. But it will hurt recruiting for those outside the cult. What adult wants to work at the company which still hasn't figured out what it wants to be when it grows up?

Yahoo to unveil strategy, minus Jerry Yang and Sue Decker

Owen Thomas · 09/10/08 05:40PM

Finally, a good idea from Yahoo headquarters! As expected, the company is planning an event to talk about its "open" strategy leading into its two-day Hack Day gathering for developers. (An "open" strategy involves giving developers access to your systems and software so you don't have to come up with any original ideas yourself.) The best part? Kara Swisher reports that CEO Jerry Yang and President Sue Decker will both conveniently be out of town. A Yahoo strategy that involves getting rid of Decker and Yang: This sounds promising.

Yahoo share price below where it was when Microsoft made its offer

Nicholas Carlson · 08/22/08 10:00AM

Click to viewThe markets closed yesterday with Yahoo shares worth $19.11. It was the second day in a row Yahoo shares closed below the $19.18 they were worth on January 31, the day before Microsoft made its $31 per share offer public. "Your proposal substantially undervalues Yahoo," wrote Yahoo CEO Jerry Yang to Microsoft CEO Steve Ballmer on April 7. Yang must feel the same way about his current shareholders.

Is a major Yahoo shareholder paying for Jerry Yang's sins?

Nicholas Carlson · 08/07/08 03:40PM

Bill Miller, the powerful Legg Mason fund manager who at last count controled 5.4 percent of all Yahoo shares, just became a little less powerful. He's lost a client, Massachusett's $50.6 billion pension fund, which held a board meeting Wednesday and voted to transfer $1.4 billion of holdings managed by Legg Mason to rival State Street Global Advisors. Miller was a vocal advocate for a Yahoo-Microsoft merger — one that would have paid his clients a 62 percent premium on their Yahoo shares and maybe have kept their billions with Legg Mason. (Photo by AP/Pizac)

Do Yahoos vote the Yahoo way?

Owen Thomas · 08/06/08 07:20PM

Miguel Helft of the New York Times looks at shareholder discontent at Yahoo another way: If one assumes insiders voted their shares for the company's slate of directors, and discounts those, then the withheld votes on CEO Jerry Yang and Roy Bostock, the board's chairman, are even more striking. One problem with this analysis: It assumes that insiders just blindly voted the company line. From what we hear, there's as much discontent with Yang and Bostock inside Yahoo as therei is outside the company. [Bits]

William Hung stars on the new season of "So They Think You Askance?"

Jackson West · 08/06/08 06:00PM

Matt Harding, the round-the-world dancing guy, was flown out to Yahoo to provide a morale booster for the beleaguered troops — and CEO Jerry Yang put on quite the show in a video broadcast to all employees. Shareholders might wonder "Why is this man smiling?" Write your own caption for this post and we'll use the best one as its new title. Yesterday's winner is trisomy21 for "Apparently there's a glitch in the Google Trends algorithm."

Yahoo recount could threaten Yang, Bostock board seats

Owen Thomas · 08/05/08 04:40PM

Unbelievably, the firm which counted shareholder votes for Yahoo omitted tens of millions of shares voted by dissident shareholder Capital Research & Management — and badly skewed the result. Yahoo calls it a "tabulation error." If you can call shifting 200 million votes from the "no" column to the "yes column", then sure. Call it whatever — it's actually Jerry Yang's death knell. The corrected total more than doubles the percentage of shareholders who withheld their votes from Yang, from 14.6 percent to 33.7 percent. Yahoo chairman Roy Bostock went from 20.5 percent withheld to 39.5 percent. At those levels of withheld votes, there is ample precedent for them to step down.Michael Eisner stepped down as Disney's chairman after having 43 percent of the votes withheld; Steve Case left Time Warner's board amid a shareholder revolt, and still drew a 22 percent protest. With the correct numbers in, Yang and Bostock's position has changed from comfortable to perilous — showing that votes count in business as well as in politics.

Yahoo holds lead over Microsoft in bidding for hot '90s dotcom startup AOL

Nicholas Carlson · 08/04/08 11:00AM

When it releases its second-quarter numbers Wednesday, Time Warner will also announce it's ready to dump AOL's dialup business. A combination of modem banks, CD-ROM mailers, and ruthless telemarketers which introduced America to the information superhighway in the 1990s, AOL's ISP business still has more than 8 million subscribers who pay through the nose for a quaintly overpriced service. What will be left: A collection of websites and an online-advertising business that has yet to get advertisers to pay anything even vaguely overpriced. Time Warner has flirted with Yahoo and Microsoft for years, but hasn't yet sealed a deal to get rid of AOL, the business which, on paper, acquired Time Warner at the turn of the millennium.But Microsoft and Yahoo, both looking ofr more heft, are still in talks to buy AOL. Once the separation — mostly "a bookkeeping exercise," reports the Wall Street Journal — is complete, selling off the advertising business should prove easier. Discussions with Yahoo are "the more advanced of the two," says a source who describes the deal as one that would combine AOL and Yahoo and give Time Warner a $10 billion stake in the company. It's a proposal AOL and Yahoo began discussing in April. Whether or not a deal is consummated, the fact that Yahoo CEO Jerry Yang is still considering it just shows how much pressure he's under from shareholders, even after last week's subdued shareholder meeting.

If the first prize is getting to stay at Yahoo, what was the second prize?

Owen Thomas · 08/01/08 04:20PM

In the banana-republic politics of America's public companies, anything less than a 99 percent "yes" vote is somewhat embarrassing. Yahoo CEO Jerry Yang should not congratulate himself on the result that 18.2 percent of shareholder votes were withheld from his reelection to the board. Still, it's good enough that Yang can safely attend the Olympics in Beijing — and stick around as Yahoo's caretaker CEO. At least until March 2009, that is, when former AOL CEO Jon Miller's noncompete expires, and the talented Internet executive can take the helm of Yahoo unencumbered by old ties to Time Warner. (Photo by Yodel Anecdotal)

Yahoo shareholders not the only ones pissed at the San Jose Fairmont

Alaska Miller · 08/01/08 03:40PM

Over at Jerry Yang's shareholder snoozefest today, Chinese political protesters showed up outside the hotel lobby. They set up exhibits shaming Yahoo for handing over bloggers' Yahoo Mail accounts to the Chinese government. Although Jerry Yang has already answered to Congress and settled with the bloggers' families, the protesters who showed up are still mad. Or opportunistic, given the expected media attention this year on Yahoo's normally sleepy annual meeting. The bloggers remain in Chinese prisons. As I tried to take more pics — on a public street outside the hotel — guys in suits came out and told me to leave the premises. And here I thought I was in the United States.

Time Warner screws ex-AOL CEO Jon Miller a second time

Owen Thomas · 08/01/08 03:00PM

Right as former AOL CEO Jon Miller gets a glowing profile in the Los Angeles Times, his former boss strikes back at him in the most callow way possible, by blocking his appointment to the Yahoo board. Was it not enough for Time Warner CEO Jeff Bewkes to ignominiously sack Miller two years ago, replacing him with the hated and ineffective Randy Falco, who instantly sent AOL's recovering business into a tailspin? Of course not! The media boss is enforcing Miller's noncompete agreement, blocking him from even working at Yahoo as a director — after Yahoo CEO Jerry Yang, who championed Miller's cause, had already announced he would join the board.

Yahoo shareholder nap scheduled for today

Paul Boutin · 08/01/08 10:20AM

Today was supposed to be the day of the big proxy fight. Instead, megamogul Carl Icahn has announced he won't be there, because he realized last week that "it was impossible to gain enough support from the large institutions to win a majority of the Yahoo! directorships." Wake us when it's over?

Carl Icahn suddenly decides he doesn't want to create a scene

Jackson West · 07/31/08 02:40PM

Now that corporate raider Carl Icahn has been mollified with a seat on Yahoo's board, he's all about keeping a low profile. On his blog, the Icahn report, he says he will not be appearing the Yahoo shareholder meeting: "The proxy fight is over and it will not do shareholders or Yahoo any good to have the annual meeting turn into a media event for no purpose." Icahn then proceeds to complain about evil institutional investors and how because of them he's stuck with a minority position, so now he's hoping for a "beautiful friendship" and "look(s) forward to working harmoniously with the new board of Yahoo." While CEO Jerry Yang and chairman Roy Bostock must be happy about Icahn's attitude upgrade, I already miss the cranky curmedgeon version. (Photo by Getty/Michael Nagle)

Alan Patricof to Carl Icahn: You're stuck now

Owen Thomas · 07/28/08 05:20PM

Hypergenteel media investor Alan Patricof has graced portfolio company Huffington Post with an op-ed. He is archly polite in his open letter to new Yahoo board member Carl Icahn. But his message is as subtle as a hammer to the head: Icahn is in deep trouble. Hamstrung by Sarbanes-Oxley regulations and fiduciary duties to shareholders, the feisty corporate raider will have to behave impeccably, lest shareholders or regulators sue him. Yahoo CEO Jerry Yang laid a trap, and Icahn walked right in. Of course, Yang shouldn't laugh too hard — he's now trapped in a boardroom with Icahn. (Photo by Getty Images

Yahoo shareholders still planning rowdy annual meeting

Nicholas Carlson · 07/23/08 10:00AM

Major Yahoo shareholders still want blood from CEO Jerry Yang, chairman Roy Bostock and director Ron Burkle, whom they hold responsible for botching negotiations with Microsoft. BoomTown's Kara Swisher predicts that at least one large fund manager will refuse to vote for their reelection to Yahoo's board during the company's annual meeting, August 1. Activist investor and president of Ironfire Capital Eric Jackson wants to take it further.

Awkward apologies on the agenda for Yahoo's next board meeting

Owen Thomas · 07/22/08 06:40PM

Last week, Yahoo CEO Jerry Yang was calling corporate raider Carl Icahn an inconsistent numbskull. This week, he's announcing that Icahn will join the board, and hailing his "fresh perspective." Jerry Yang deserves a pat on the back for coming to terms with the hostile investor; an ongoing fight would destroy the company he professed to love. But does he have to shred whatever is left of his credibility in the process? Here's a reminder of what Yahoo wrote about Icahn on its proxyfacts.yahoo.com website, linked to from the Yahoo homepage, until Yang abruptly changed his tune. Perhaps Yang and Icahn can have a nice chat about it before they move on to an acquisition of GitHub.