Tuesday, June 12, 2007

Seeking Alpha: Eric Jackson Prepared to Shake Things Up at Yahoo's Shareholder Meeting

From today's Seeking Alpha:

David Neubert submits: Last night, I saw Eric Jackson talking to Maria Bartiromo on CNBC. He was getting press for his small shareholder campaign to shake up Yahoo (YHOO) management.

He said he represented over 100 investors with over 2 million Yahoo (YHOO - $27.35) shares. I am one of the investors he represents. I signed up at his website called Breakout Performance.
The Yahoo shareholder meeting is today.

Mr. Jackson has all sorts of press, and even the conservative proxy advisor used by most funds, ISS, mentions Mr. Jackson's Plan "B" in its recommendations for the Yahoo board vote.

And is Terry Semel's pay too high? Is he taking too much of a share of Yahoo's earnings as salary? It would seem Eric Jackson is not alone in thinking so.

Anyway, I wish I could be at today's Yahoo shareholder meeting, but Eric Jackson will be there speaking for me. Go kick some entrenched-overpaid-underperforming management butt for me, Eric!

Disclosure: I own Yahoo and plan to pledge my shares to the campaign. However, if the shares rise above $35, I'm likely to start selling. I'm short Jan 2008 35 strike calls against half my position of YHOO and am also short Jan 2008 30 strike puts. I like Yahoo!. I use their email and use MyYahoo as my homepage. I make extensive use of Yahoo Finance. I also like the newsreader in YahooMailBeta.

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Luke Sommers said...

My wife and I only own a few hundred shares of Yahoo stock, but were appalled when we read the amount of reimbursement Terry Semel was paid last year when the company did so poorly. We will certainly vote in favor of the shareholders proposals, and against the continuation of Semel as the CEO. Good for you for taking your stand.

Eric Jackson said...

Thanks, Luke. Appreciate your support.