Microsoft CFO: With or Without YHOO

Microsoft is still interested in a search deal with Yahoo (YHOO), but for now it’s assuming one’s not in the cards. That’s the word from Microsoft CFO Chris Liddell, who, in remarks at a Goldman Sachs conference in San Francisco Thursday, said Yahoo is not a “silver bullet” solution for the problems with its search business.

“Yahoo doesn’t have the magic solution,” Liddell said. “No one should think it will transform the industry….Putting the two organizations together would be a useful step, but it won’t be a panacea….We have to have a plan that excludes Yahoo, we can’t be dependent on that. Even though we’ve suggested it would be great to get together, we don’t work on the basis that’s going to happen. If it does that’s great, but if it doesn’t, that’s fine too.”

Liddell’s remarks came a day after soon-to-be-former Yahoo CFO Blake Jorgensen said the company had not ruled out the idea of a search deal with Microsoft (MSFT).