Kara Swisher

Recent Posts by Kara Swisher

Under Pressure: Meet Roy Bostock

bostock

Don’t miss a terrific Wall Street Journal profile of Yahoo’s new non-executive Chairman Roy Bostock, penned by the always excellent Kevin Delaney in today’s paper. The longtime ad exec definitely has his work cut out for him, given Microsoft’s unsolicited $31-per-share bid last week.

shining

Delaney outlines the stakes for Bostock, who was installed only minutes before the Here’s-Johnny! call from Microsoft CEO Steve Ballmer, demanding to buy Yahoo for $44.6 billion or else. Bostock replaced former CEO Terry Semel, who got out of Dodge just in time. And, within minutes, Bostock apparently improved Yahoo.

Wrote Delaney:

Microsoft’s offer carried a 62% premium over Yahoo’s recent share price when it was extended. As Yahoo’s directors absorbed the offer that day, someone in the room joked that Mr. Bostock had been chairman for only half an hour and had already increased the company’s value more than 60%, says a person familiar with the matter.”

Well, that’s a plus. Kind of. OK, not so much.

(Here’s a post I did about all the Yahoo board members last week, ahead of its earnings call.)


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work