BoomTown liveblogged Yahoo’s “chalk talk” about search earlier today, which was an update of what the Internet giant is up to in the competitive space that includes Google and Microsoft.

Presenting at the event were Prabhakar Raghavan, head of Yahoo Labs and Yahoo Search Strategy; Larry Cornett, VP of Consumer Products; and Marc Davis, chief scientist of Yahoo Mobile.

At its HQ in Silicon Valley last week, Google put on a similar show-off, called “Searchology,” about its own latest search innovations.

And although they are clearly No. 1 and No. 2 in the search space, both Google (GOOG) and Yahoo (YHOO) are bracing for the launch a major overhaul of the Microsoft’s (MSFT) search offering, which is expected next week at the D: All Things Digital conference and code-named “Kumo.”

11:45 a.m. PDT: A delightful lunch was offered to a room full of tech reporters at the San Francisco offices of Yahoo’s outside PR firm, Outcast Communications.

But all the munching was quickly swept aside by the aggressive tone of the speech to be delivered by the normally gentle-looking Yahoos.

Apparently, top Yahoo execs want to “kill the 10 blue links.”

Yipes!

“Nobody really wants to search,” said Raghavan, describing a broken consumer experience and how Yahoo wanted to fix it. This has been a bell he has been ringing from last fall, in fact.

But we all were soon deep in the weeds of tech, as he noted that Yahoo wanted to move from a “Web of pages to a Web of objects.”

It still sounded very, very Webby.

12:01 p.m.: Soon, Raghavan started to talk about Yahoo products, such as Build Your Own Search Service (BOSS), which he says has generated almost as many daily queries as Microsoft’s whole search offering.

Snap!

Next up was Cornett, who began talking about intent and how Yahoo was trying to weave what a consumer wants in with what is displayed.

That means “helping users accomplish that goal by connecting objects in the real world.”

He trotted out Yahoo’s Search Pad offering, which is simply a way for people to keep track of their searches online, instead of on a dopey scrap of paper that the dog eats.

Cornett also showed how embedded music, video and other structured data are inserted into mostly dull search results.

Yahoo, in other words, is going to know what we want and give it to us–even before we know we want it. Sounds like my mother!

12:15 p.m.: Cornett reeled off lots of stats about its SearchMonkey technology, which is a year old.

There was a picture of a monkey with a birthday hat, natch! (See here!)

SearchMonkey, according to Yahoo, is a “framework for creating small applications that enhance Yahoo search results with additional data and structure.”

Cornett then invited up Facebook software engineer Alex Moskalyuk to talk about building apps with SearchMonkey.

Lots of tech talk that was actually incomprehensible to the reporters gathered, although they all scribbled away (I, at this juncture, chose to eat another sandwich).

Here is one line: “Originally used XPath extractor, switched entirely to hCard.”

Welcome to my world! It’s like some telephone guy talking apart a handset and explaining the guts of the device, when I am only interested in making a call.

12:23 p.m.: Next up: Matthew Hertz of Pipl.com, a people search engine built on Yahoo’s BOSS.

People search was, he said, a “deep Web challenge.” Indeed, there needs to be an easier way of finding out about a potential date online!

Actually, Pipl is a nice service and useful too, and Hertz is right that Pipl should not have to reinvent the search wheel to take advantage of all the data already available on big search services.

12:29 p.m.: Yahoo’s chief mobile geek Marc Davis was up, talking about “answers, not just links.”

Now they’re talking!

Actually, mobile is a key search arena with the increasing popularity of smart phones.

That means knowing everything from movie times to weather to flights to cheap gas prices nearby immediately.

Twittery humanity needs to know now!

Yahoo’s offering is called oneSearch. which is also a good product. It better be. “For many people in the world, their phone is the way to access” the Internet, said Davis.

12:40 p.m.: Now, the Yahoos summed up “What’s Next?”

Let’s review: Kill the blue links! Intent! Objects! Open! Mobile!

Raghavan then gave me a great joke by using the term: WOO, which is Web of objects. Apparently, they go around Yahoo talking about getting to the WOO.

It sounded naughty and I liked it.

Time for Q&A!

A question was posed about how quickly Yahoo rolls out these technologies, which are often limited in “bucket tests” of smaller groups of users.

As soon as they can, of course.

Next question was about how WOO impacts online ads. “It takes us away from a marketplace of keywords to a marketplace of intent,” said Raghavan.

That means advertisers can eventually make better ads. Oh, joy.

Then a question about when links are appropriate and when rich search should prevail.

Well, it depends on the user!

Next, a question about the currently trendy “real-time” search–a magical power that the blogosphere has, in its infinite hype-osity, bestowed on Twitter.

Raghavan called it a “buzzword” and I agreed.

Cornett added, correctly, that it should be about precision and accuracy in search, as well as serving “fresh” data. Fresh was a diplomatic word for whatever the mostly useless tweets are yammering on about at any given moment, which are most pointless.

The next question was about how soon a lot of this cool rich search data gets to the masses. Answer: Some of it is in testing and some is live systemwide.

I then asked about whether Yahoo would shove out the bells and whistles if, say, Microsoft’s new search service has a lot of the same features.

Cornett noted that Yahoo will only roll out after testing showed good results.

In other words, Yahoo will kill (or drink) no blue links before their time!

More questions about rich data, with one that makes the point that Yahoo was originally known for “curation,” which was its original business as the Web’s first truly useful directory.

It was.

1:01 p.m.: Still more questions.

Someone asked the Yahoos to comment on a recent post on TechCrunch that said the company was not developing for BlackBerry and focusing intently on the iPhone from Apple (AAPL). An exaggeration, said Davis, which was a diplomatic way of saying the story was wrong.

Blackberry users can now relax.

Later today, as BoomTown reported last week, Yahoo is putting on a search party.

Well, not a “party” party–although there will apparently be some lunch noshing at the “Search chalk talk,” during which top techies at the Internet giant will talk up the strategy for its more innovative products, such as Build Your Own Search Service (BOSS) and Search Monkey.

Presenting at the event with be: Prabhakar Raghavan, head of Yahoo Labs and Yahoo Search Strategy; Larry Cornett, VP of Consumer Products; and Lee Ott, senior director, Mobile Search.

Yahoo (YHOO) has a search share that hovers around 20 percent, compared to the more than 70 percent that Google (GOOG) has.

At its HQ in Silicon Valley last week, Google put on a similar show-off, called “Searchology,” about its latest search innovations.

And, although they are clearly No. 1 and No. 2, both Google and Yahoo are bracing for the launch a major overhaul of Microsoft’s (MSFT) search offering, which is expected soon and code-named “Kumo.”

It will be interesting to see what Yahoo’s techies focus on, especially as the company’s brass continue to talk with Microsoft about a possible search and online advertising partnership.

I’ll be liveblogging the Yahoo event, which begins at 11:30 a.m. PDT.

Please see this disclosure related to me and Google.

Suddenly, search!

Earlier this week, Google put on a show called “Searchology” about its latest search innovations at its HQ in Silicon Valley.

And next Tuesday, Yahoo will trot out its search extravaganza, called “Search chalk talk,” during which top search techies will talk up its more innovative products, such as Build Your Own Search Service (BOSS) and Search Monkey.

Could all this search blabbing have anything to do with a certain upcoming launch of a new search offering by a very rich and even more determined giant tech company?

As in: Microsoft (MSFT) and whatever it ends up calling its redone search product, code-named Kumo.

Since the launch is likely to be loud and splashy, the No. 1 and No. 2 search players needed to make some of their own noise in advance about their stuff.

So Google (GOOG)–which has a massive lead in search of upward of 70 percent–trotted out Udi Manber, VP of Search Engineering, and Marissa Mayer, VP of Search Products and User Experience, this past Tuesday for a media audience.

The distillation of the event was that doing search well is still really, really hard–a new kind of “rocket science,” in fact, as Manber declared.

(Google’s spaceship crashed a bit today, as it turned out, with an outage, which was blamed on a “traffic jam” in Asia.)

At the event, the search giant also unveiled some new bells and whistles, such as Search Options, including a “Wonder Wheel” and “Google Squared,” as well as “Rich Snippets.”

Not to be outdone, Yahoo (YHOO) will have its own confab for reporters and bloggers next Tuesday morning in San Francisco.

Presenting at the event with be: Prabhakar Raghavan, head of Yahoo Labs and Yahoo Search Strategy; Larry Cornett, VP of Consumer Products; and Lee Ott, senior director, Mobile Search.

Yahoo has a search share that hovers around 20 percent, which makes the upcoming increased competition from Microsoft more problematic.

Which is why the company continues its talks with Microsoft about a search and online advertising partnership.

But until any deal is struck, of course, it will be competition as usual.

Please see this disclosure related to me and Google.

Oh, a nice tiny surprise from Yahoo, as it reported its fourth-quarter results, which came in at 17 cents a share in adjusted earnings, compared to the 12 to 13 cents Wall Street was expecting.

“Despite the challenging economic environment, Yahoo! delivered adjusted operating cash flow above the midpoint of guidance for the fourth quarter,” said new Yahoo CEO Carol Bartz in the company’s official release. “The company also made important investments while aggressively managing costs, leaving us better positioned to weather the economic downturn and emerge stronger when advertiser spending improves. We have work to do, but I am excited by Yahoo!’s opportunities, and encouraged by the tremendous innovation and momentum I’ve seen since joining the company as CEO.”

But let’s experience Bartz Live and Unplugged at the fourth-quarter earnings conference call, including a Q&A in which–the company’s intro speaker noted at the top of the call–former Yahoo (YHOO) CEO and Co-Founder Jerry Yang might make an unexpected cameo appearance.

(He didn’t.)

2:08 p.m. PST:

It’s Carol’s show obviously, coming on first and foremost, with a little joke, after hearing all the typical caveats that must be uttered by Yahoo’s investor relations folks before the call begins.

“I should have understood all those risks before I took this job,” she chuckled.

Now that’s the understatement of the year!

Noting she has been on the job only eight days, meeting and greeting the folks of Yahoo, Bartz said she was impressed by the energy and “can-do” spirit of the company, noting that the product pipeline was fantastic.

Of course, products have never been the problem at Yahoo, as many have noted (including BoomTown many, many times). Execution has been the devil in the details!

Bartz obviously got this, but was not going to insult former management this time, as she did in her debut public conference with the press and analysts.

Right after she was hired in mid-January, Bartz noted that Yahoo and its assets, “frankly, could use a little management.”

But it is probably not a good idea to say that again with thus-far silent Jerry Yang sitting right next to her.

2:09 p.m. PST

A tiny bit of kissing up to Bartz by CFO Blake Jorgensen, who started to go over the numbers in great detail, putting the best face on a weakish performance overall, especially compared to previous years.

At the end, he said that Yahoo had performed well in 2008, considering the poor economy, and added guidance going forward was not great either, especially compared to a year ago.

Also, he warned Wall Street not to expect too much guidance for 2009, as Microsoft had also said last week in its own depressing earnings call.

2:20 p.m PST:

Back to can-do Carol Bartz, who began by pointing to all the various assets that Yahoo has–including its Build Your Own Search Service (BOSS) product and Yahoo News–all of which are strong products for advertisers, she said.

But Bartz also finally made the point that execution needs to improve, which she said was “addressable.”

Before the Q&A started, she answered some questions about the company she asked herself, before they could be asked by others. Apparently, now that Bartz is an “insider,” she knows better than anyone else!

Did she come to Yahoo to sell it? “No.”

Will she sell search? Bartz does not know yet, but noted “search is a very valuable part of [Yahoo's] business.”

She added that Yahoo search market share was three times the size of the third player, which Bartz curiously did not name, but which is–of course!–Microsoft–which wants very much to buy Yahoo’s search business.

Uh-oh, Microsoft (MSFT) CEO Steve Ballmer might not get his way so quickly!

2:26 p.m. PST:

The first question was about selling the company.

“I did not come to Yahoo to sell the company,” said Bartz again. “It’s too early to say more than that.”

The second question was about reports–in this column too!–about talks with Microsoft and Time Warner (TWX) unit AOL recently.

Bartz said Yahoo does not comment on reports that “come from nowhere.”

Sorry to disagree, but they did come from somewhere and were very well-sourced–just like the absolutely on-target post this column did of Bartz’s pending CEOship at Yahoo, before it was officially announced. But let’s just try to ignore that slight and move on–unless, of course, Bartz keeps up with what has become regular blog-bashing, which means a testy war of words and copious leaked memos to come!

The third question was about the management. Bartz said she plans on getting the lines of communication clearer, which she said she was really good at.

Kissing up to herself was a nice touch.

2:33 p.m. PST:

Next came a question about international business–which is the least of Yahoo’s worries, no matter what its execs say about the great products.

The next question was about guidance. No guidance, folks!

Now, one on the display business, with questions about the pressure on prices and on premium online advertising, which is Yahoo’s top business.

Jorgensen said Yahoo is trying to help advertisers, but that there has been and will continue to be a slowdown in advertising, due to the recession.

More on outlook, cost-cutting, etc. Jorgensen: More caution. Hey, analysts, we’re in a recession and I am not so sure how many ways he can say that.

So far, no Jerry Yang, which was starting to seem odd, since that Yahoo minion said he might be chatting away too.

But, as I said, it seems to be Carol’s show, which has been highly entertaining so far in her tenure, although she’d probably scowl at me sternly for saying that and pull out that cheap trick of insulting the press again.

Next up was a question to about various foreign assets and investments. Bartz will look into it! Jorgensen got in a good joke about her priority not being foreign tax issues.

The following question was about product innovation aimed at a younger demographic.

Bartz was on top of that too, pointing out that she has kids in their 20s.

First, she noted children do grow up, and that they will start to use Yahoo products like its finance offerings, as they move into the workforce and have less time to post dopey pictures on Facebook and throw digital sheep.

Also, young people are finicky, she added. They jumped from MySpace to Facebook, after all!

“Who knows what’s going to come next?,” she said, sounding like a typically exasperated parent. In other words, Yahoo will grab them when they grow up and prefer to be more dull!

2:43 p.m. PST:

The next question was about the timing of changes to come, which prompted Bartz to make another joke about buying the New York Times tomorrow! She was kidding, because the analyst asking the question suggested the troubled Yahoo buy the troubled media company in a recent report.

But, seriously folks, Bartz reiterated: “Gimme some time.”

Next, someone asked about the advertising sales force at Yahoo, which is a good question. Bartz is headed to a sales force meeting in a few weeks, she said, wherein she plans to have a beer with them and find out (once they are drunk and presumably easy to get blabbing).

Still, no Jerry Yang! Sigh. I suddenly desperately miss him and his lower-case ways.

The next question was on shareholder value, which has not been very valuable of late. Bartz noted that everything is on the table related to Yahoo’s businesses, but underscored how valuable the property is as a whole.

“This is not a company that needs to be pulled apart and left for the chickens,” said Bartz.

Apparently, this folksy little saying is from her Wisconsin upbringing. Scary poultry metaphor alert!

Bartz is asked about top assets at Yahoo.

She once again noted that Yahoo’s great products will save the day, from customization to integration of assets. “If we have strong products, we will attract the audience that just beats everything,” said Bartz.

A question about search and display being together, which is a sneaky way to ask about Microsoft, since that’s the great debate within Yahoo over whether to do a deal to outsource it or not.

Bartz made a confusing house metaphor, with search being the house, but it is completely lost on me. Is search the house or a living room or what?

“Whether we keep it or sell it, it’s an important asset,” Bartz then said, which was a clever way of saying exactly nothing.

2:55 p.m. PST:

A question on Yahoo brand, which Bartz basically said is about being the place people come every day. But she admitted there was too much complexity to that brand, although products are strong!

Next, someone asked a question about relevancy of Yahoo. “Our users don’t need constant change,” noted Bartz, who has a decent point about the jumpy nature of Web 2.0′s change-for-change’s-sake mantra.

Still–let’s be honest–Yahoo’s missed a key trend or two in recent years.

Next up was a question about ad prices and another on cost cuts. Jorgensen said that it’ll be more about efficiencies and perhaps some more outsourcing.

Bartz thanked the group for not being “too pushy” in their questions, which was an odd end note, since pushy should be the main job of analysts.

In fact, after listening to the call, I hope that Wall Street keeps up the pushy factor, as investors deserve a lot more answers from Bartz and Yahoo going forward.

It is not, as Bartz insisted in the conference call, a case of inside and outside perceptions being different. Yahoo does have strong products, but it still has gotten itself into its current mess all by itself, much of which has little to do with the weak economy.

That’s why I plan on being very pushy, asking about everything from what structural changes Bartz plans to make to how she envisions Yahoo’s business going forward to improving morale on a sustained basis to what she thinks she can do to make Yahoo the strongest it can be when the economy comes out of the recession.

And, not to get pushy or anything, but what happened to some words from the promised Jerry Yang?

Perhaps he fell victim to the vicious chickens of Wisconsin.

[Dear Yahoos: To get on board the Can-Do Carol Bartz Express, you can buy the "Yes We Can" t-shirt at Zazzle.com for just $23.40!]

Did Yahoo CEO Jerry Yang have an extra bowl of Wheaties recently?

If so, it could be a very good thing.

In what is most definitely much more than a glimmer of innovative spark for Yahoo (YHOO), the company has opened up its search technology to allow anyone to build their own search engine.

BoomTown even likes the aggressive name of the service, which is BOSS, or Build Your Own Search Service. It debuted last night in public beta.

The project is part of Yahoo’s efforts to open its technology to third-party developers, with the hope of extending its reach further.

Yahoo has made several initiatives in the open arena recently, including SearchMonkey, which lets outside developers add more information to Yahoo search results.

But BOSS represents a quantum level from that largely cosmetic offering, by letting programmers do just about anything with Yahoo search results.

While the technology is free and will not be Yahoo-branded, Yahoo will require that those who use it also use Yahoo’s search advertising, revenues in which partners will eventually share.

Yahoo hopes it can hold onto its slipping search share through, well, sharing of its technology, in essence, by letting 1,000 search engines bloom that are all powered by Yahoo.

Both Yahoo, as well as Microsoft (MSFT), have been trying with no luck to hold onto their share of the search market in the face of search juggernaut Google (GOOG).

And the attraction for partners would be to not have to bear the cost of creating a search engine, while at the same time getting to have a customized one.

“What this represents is a deletion of the fundamental barrier to search,” said Prabhakar Raghavan, chief strategist for Yahoo Search. “We are removing that barrier for entry and you don’t have to replicate our efforts.”

Added Raghavan: “Anybody with a good dea will be able to get going without that upfront cost.”