Don't Stop Believin'–Wave Those Yahoo Proxies Proudly!
So, I will soon be headed south down U.S. Highway 101 to Yahoo’s annual shareholders meeting in Santa Clara, Calif., in a vain quest for a smidgen of news, which I already predicted would not occur in this post.
But we shall forge on. Since Steve Jobs will not be onstage to liven up the proceedings–and Yahoo certainly could use a little razzle-dazzle and admiring throngs of acolytes right about now–I will not be liveblogging from it.
I know, you’re disappointed, but not as much as I would be with nothing to write as shareholder proposal after shareholder proposal gets nixed.
Until I do post, make due with this umpteenth, but well done, article from the New York Times today, about the woes of CEO Terry Semel and the wobbly ship Yahoo. In it, former execs seem to dither about how unhappy the company is to work at, what with its saggy stock, management turnover and inability to catch those annoying Googlers in the search ad market. Although no former Yahoo exec says anything too controversial, none deigned to talk on the record.
Thank goodness, then, for Yahoo co-founder Jerry Yang, who still goes by the title of Chief Yahoo (and one which, back in the day, I tried unsuccessfully to keep out of The Wall Street Journal when I was on the company beat, although I did finally manage to banish the exclamation point at the end of Yahoo in my stories).
He talked on the record and defended his turf ably. “We are promoting and hiring new executives at a pretty fast pace,” said Yang to Times reporter Miguel Helft. “People are joining us because they believe in the upside.”
As Journey sings so aptly in the song that ended “The Sopranos” series finale on HBO on Sunday, Jerry: “Don’t Stop Believin’.”
Really. Don’t. (Especially because it is a really great song.)
Please see this disclosure related to me and Google.