Hmmm...

"The Yahoo! board and its CEO are there to serve the shareholders and no one else - that is the reality of being a public company."

Is that true? Really really? Like, for real?

On the other scale of interpretation, aren't the investors funding these guys to do whatever they want, and taking the risk that what they want is not bringing back any money?

That I know, if a start-up goes under, the venture capitalists cannot sue the head of the start-up. They trusted the guy, if the trust was misplaced, that's too bad for them.

If the only thing that mattered was money for the shareholders, you would actually see undervalued companies firing all employees and selling all their assets - by themselves, without waiting for a corporate raid. How often does that happen?

The way I see it, they can vote to kick Yang out, but not sue him.

Retarded exchange medium

@ Daniel B. above---

I largely agree with your point, and also find vile that "funds" representing anonymous "shareholders" can sue because their favored little engine of growth decided not to throw itself on it's own sword for their personal pleasure.

However, this concept of constant capitalist growth is dictated by the rules governing positive-interest money. The very design of this one exchange medium essentially requires a culture response interested in greed and the liquidation of anything into money, at the expense of non-monetary value (good companies, trees, modest homes, etc).

It's a pretty serious failing, and one that must be addressed -- perhaps, as some have suggested, by creating additional non- or negative-interest currencies along side current money -- if humanity wants to avoid ridiculous boom-crash cycles that leave people (and companies) dead while the food sits just outside their border.

Personally speaking, I'd rather Microslosh not own and ruin Flickr (a Yahoo! subsidiary), and so I support Yang's yin decision.

Retarded Shareholders

This is exactly the case that shows why there is something wrong with "Capitalism". I don't see many people killing themselves because they'll earn more money by dying, but it seems like companies are legally obliged to do exactly this if it increases the share value.

I assure you that the reason these shareholders were happy about a Microsopht takeover was because they'd short sell the entire Yahoo! stock as soon as it went up. Then they'd sail off with their boatload of plundered earnings while Yahoo is ripped apart by MS.

As some have pointed out, the shares are already above the pre-Microhoo offer, so if they are so whiny they should sell stock and stop whining. See, investing in the stock market is kind of gambling; the board of directors should be able to decide what's best for THE COMPANY, not for some dudes shouting "Show me the money!". Oh well...