Return to Yangtanic!

So after months of negotiations and posturing, Microsoft (MSFT) has given up its efforts to buy Yahoo. And according to Yahoo CEO Jerry Yang, that’s good news.

Indeed, people close to Yahoo (YHOO) said that Yang and Co. greeted the withdrawal of Microsoft’s bid as a victory, with a celebratory exchange of high-fives. In a hopeful statement posted to the Yahoo blog in the wake of Microsoft CEO Steve Ballmer’s stink-bomb of a kiss-off letter, Yang looked toward the future with a beatific, albeit vacuous, grin stretched ear-to-ear.

… Has this experience changed us? Of course, it has. We’ve emerged a stronger, more focused company with an even greater sense of purpose. I’m so proud of how this company has come together, put the noise aside, and showed the world that we have the resolve and determination to thrive in challenging times.

… So, what’s next? With Microsoft’s withdrawal, we’ll be better able to focus our energy on growing our industry leadership and maximizing value for stockholders. We’ll continue to execute on our plan — making your Internet experience as personal, relevant, open and social as possible, serving advertisers so well they insist on working with us, and opening up Yahoo! in a way that developers dream of. And, we’ll also continue to pursue strategic opportunities that position us for long-term success.”

Yeah, good luck with that come tomorrow, Jerry. My guess is by market close, you’ll be “focusing your energy” on damage control for YHOO’s new 52-week low. Perhaps it’s time for another 100-day review of the company, seeing how ineffective that last one was. At this point, it seems the only so-called “sacred cow” you’re going to slaughter is your company’s share price …