- Unbeliebable: White House turns Bieber petition response into immigration screed
- Obama signs law denying Iran ambassador’s visa, but says law is ‘advisory’
- Mich. judge to laughing convicted killer: ‘I hope you die in prison’
- Man charged in Kansas City-area highway shootings
- Keystone XL pipeline still on hold after State Dept. decision
- Fla. man charged with killing 16-month-old son to play Xbox undisturbed
- Drones from the deep: Pentagon develops ocean-floor attack robots
- Michigan mayor slaps back atheists’ try to erect ‘reason station’ at city hall
- PHILLIPS: Where is the conservative establishment?
- 7.5-magnitude earthquake shakes southern Mexico
Chairman, 3 others out in Yahoo board shake-up
His decision-making came under scrutiny again in early 2009 when he and the rest of the board hired Carol Bartz as CEO in early 2009. Although she was well respected for per previous success in computer software, Bartz had no previous experience in online content or advertising _ the keys to Yahoo’s business.
The no-nonsense Bartz helped sharpen Yahoo’s focus by cutting costs, but couldn’t revive revenue growth. Bostock fired her last September, prompting Bartz to lambaste him and the rest of Yahoo’s board as “doofuses.”
Yahoo’s financial struggles are becoming even more glaring now that Facebook, the owner of the Internet’s largest social network, has opened its books in preparation for an initial public offering of stock later this year. Facebook’s IPO documents revealed its revenue surged 88 percent to $3.7 billion in 2011 while Yahoo’s declined by more than 20 percent to just under $5 billion. If that trend continues, Facebook’s revenue will surpass Yahoo’s this year.
Yahoo is trying to generate some cash that could be used for acquisitions or shareholder dividends by selling its stakes in China’s Alibaba Group and Yahoo Japan. The proposed deal requires clearing some tax hurdles and addressing other issues that Bostock indicated could take a long time to resolve. The negotiations already have been going on since last fall.
“The complexity and unique nature of these transactions is significant,” Bostock wrote Tuesday. “While we continue to devote significant resources to these discussions, we are not in a position at this time to provide further detail or to provide assurance that any transaction will be achieved.”
TWT Video Picks
Women losing coverage under Obamacare, too
- Scalia to students on high taxes: At a certain point, 'perhaps you should revolt'
- Former Ranger breaks silence on Pat Tillman death: I may have killed him
- Special Forces' suicide rates hit record levels casualties of 'hard combat'
- Feds approve powdered alcohol; 'Palcohol' available later this year
- EDITORIAL: Mark Warner running scared?
- Army goes to war with National Guard, seizes Apache attack helicopters
- EDITORIAL: More Lerner smoking-gun emails at IRS
- U.S. Navy to turn seawater into jet fuel
- Harry Reid blasts Bundy ranch supporters as 'domestic terrorists'
- 'Deport Bieber' petition draws no comment from White House
Top 10 handguns in the U.S.