Why would Mark Haines and Oprah have wanted Yahoo! CEO Carol Bartz and her fellow director cronies thrown out on June 23rd by shareholders?
Read the full post on Forbes.
It's time for change at the top of Yahoo! On June 23rd, investors will get a chance to do just that.
Read the full post here at Forbes.
By Eric Jackson After seeing the stock drop 10% at the end of last week, and hearing from the Yahoo! public relations team that the company had been informed on March 31 in a letter to its accounting department that it no longer owned Alipay, Yahoo!'s shareholders virtually stormed the boardroom in Sunnyvale, Calif. Late Friday, a Chinese website reported that Alibaba Group still owned Alipay. The entity had simply been transferred to a variable interest entity (VIE) for the purposes of obtaining the necessary new online payment license from the Chinese government. But that version of events got no play in the U.S. media. It was simply assumed that Jack Ma -- Alibaba Group's CEO and founder -- had deceived the Americans and Japanese. Based on a joint statement from Yahoo! and Alibaba Group over the weekend, it's clear that Yahoo! shareholders have read the riot act to the board. They've basically said, "Stop these inane press releases, get your act together and get your facts straight!" Any talk of suing Alibaba Group by anyone connected to Yahoo! is going to be quickly snuffed out. It's time to reboot this relationship. Both sides (and, of course, Japan's Softbank Corp. with its 30% ownership stake) have a lot to gain or lose from how communications are handled going forward. If you think that Jack Ma can simply take Alipay and Taobao away from Yahoo! and Softbank with no implication to his long-term reputation and to Sino-American business relations, think again. Ma knows this. Just because he doesn't like the 2005 deal he struck, accepting Yahoo!'s $1 billion in exchange for a 43% stake, he can't turn his back on it. ... [*** This post is an excerpt of the full article, available by clicking here to go to RealMoney.com. Note: subscription required. ***]
RealMoney Contributor
5/16/2011 12:15 PM EDT
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Last week's press-release war between Yahoo! (YHOO - commentary - Trade Now) and Alibaba Groupwas a car crash you couldn't look away from.
Now it seems as if some adults -- I mean Yahoo! shareholders -- intervened on behalf of their petulant children over the weekend.
Taobao is the crown jewel within Yahoo!'s list of assets. It is a big reason why Yahoo!'s stock should be trading at $31 a share today - and much higher in the future.
Read the full post in Forbes here.
Yahoo! shareholders are likelier to see a $30 stock price sooner if they vote "against" Carol Bartz' and Roy Bostock's re-election at this June's shareholder meeting.
Please read the full post at Forbes here.
