'Your papers, please' must never be heard in America
Independent voices from the TWT Communities
Yahoo swept out Scott Thompson as CEO Sunday in an effort to clean up a mess created by a misleading resume that destroyed his credibility as he set out to turn around the long-troubled Internet company.
Yahoo's dysfunctional turnaround efforts have morphed into a Silicon Valley soap opera, one that has taken another strange twist with the Internet company's ousting of CEO Scott Thompson just four months after his arrival.
Yahoo still has credibility issues, even after casting aside CEO Scott Thompson because his official biography included a college degree that he never received.
Yahoo swept out Scott Thompson as CEO Sunday in an effort to clean up a mess created by a misleading resume that destroyed his credibility as he set out to turn around the long-troubled Internet company.
Groupon's announcement that its revenue and earnings were lower than what it reported in February is sparking fresh worries about the young company's business model.
It's losing business to Google and Facebook. Its stock has gone nowhere since 2008. It just announced its fourth CEO in five years. It's enough to make investors replace the exclamation point in the logo with a question mark.
Yahoo keeps losing ground in the fast-moving Internet market, increasing the pressure on the struggling company to abandon its perpetual turnaround attempts and negotiate a sale with one of several prospective bidders.
"Ross Levinsohn is a common-sense executive, a pragmatic operator who people love to work for," Rohan said. "He is the right guy for this job."
"Levinsohn is an extremely qualified executive, in our view, and will serve as a calming force amid the turmoil," Stifel Nicolaus analyst Jordan Rohan wrote in a Monday email. "He has a visceral understanding of what it takes to succeed in the media business. We believe that under new leadership, Yahoo is more likely to re-emerge as a premier, highly profitable online media."
