I guess I am not the only one rooting for the Yahoo turnaround.
The group’s nine-point plan calls for Terry Semel to be replaced as chairman and chief executive, citing “strategic missteps” that include his failure to acquire Google Inc. in 2002. The plan also faults Semel for loss of search-market share to Google and outsized compensation despite a 14 percent share-price decline since January 2005.
The plan also calls for the ouster of six other directors, the shuttering of Yahoo’s media group and Los Angeles offices, additional investment in technology research and development, reduced product overlaps, pay-for-performance compensation for managers, stepped-up stock buybacks, a cash dividend, and elimination of antitakeover measures.
Well, well! The web is becoming a very powerful medium, handing HUGE leverage over to those who know how to use it!