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Yahoo Board Meeting: 60 Second Summary

Posted by Kevin Heisler at Aug 1

Jim Goldman, who writes Tech Check at CNBC, is live blogging the Yahoo shareholder meeting.
The turnout was light and much lower than expected. So far there have been no fireworks, with only a facetious request that Yahoo Board members punch time cards to prove how long they're working. (Roy Bostock said, no problem.)
Yahoo Chairman Roy Bostock reiterated the standard Yahoo strategy and said the company was hitting its targets.
He noted, "Microsoft's initial $31 bid was the only written proposal ever received by the company...In an offhand comment, (Microsoft said to one of our executives), 'There may be a few more dollars on the table. It was never explicitly communicated to the board, and never communicated in writing."
On Yahoo's partnership with Google, Bostock said, "After Microsoft withdrew the offer, and only after they withdrew the offer, we entered into a deal with Google."
Jerry Yang talked about how he's (still) excited to transform the company (again) given its tremendous assets and online audience. Sue Decker will discuss new display advertising algorithms (which sound suspiciously like Panama Redux).
Why did so few shareholders attend? Have they resigned themselves to a $20 stock or do they think there's nowhere to go but up?

1 comments:

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