I was checking some of my stocks this morning and after laughing at how much Apple (AAPL) stock can rise at the slightest of iphone announcements, I noticed that Yahoo (YHOO) also jumped significantly today. At first I thought it was due to the new quality based pricing that Yahoo had implemented, but then found out that Jerry Yang is back and head of Yahoo as CEO.
After 18 months of watching Yahoo stock plummet as much as 30%, I thought it would be a great time to buy into Yahoo last week after dumping my Corning and EBay stock, so this is great news for me as after market trading has Yahoo jumping up another 4.8%! I’ve written for months about Yahoo’s desparate attempts to gain back market share and any sort of credibility in their advertising departments, so the hiring of Jerry Yang is a definite step in the right direction because 1) Yang is one of the original dot-com gurus who understands the market and the industry 2) Yahoo needed to let go of Terry Semel as he was just a Hollywood big wig who came in at a time when the industry thought the internet was moving towards entertainment when clearly Google showed it was moving towards something else.
It’s going to be interesting to see where Mr. Yang decides to take Yahoo now. Will they continue to be known as the Jack of All Trades and the Master of None or will they finally be able to make a stand and yell . . . “WE ARE SPARTA!”
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Is that guy Korean? I think he is…
I think anywhere will be better than where Yahoo! has been going. It’s terrible that the last CEO’s compensation has nothing to do with the performance of the company.
I think it’s crazy that if the performance of the company is great, the CEO gets a fat bonus, but when the company sucks . . . they still get a great bonus . . .
Here’s an interesting piece on it.
It’s about time they did something to shake that company up. I’m just waiting for MS to buy them out.