More interesting times for Yahoo!... Yahoo CEO Jerry Yang’s impassioned campaign to keep his job and control of the company he helped found has won over a key swing vote. Bill Miller, chairman and chief investment officer of Legg Mason Capital Management, said today that if it comes to a proxy shootout at the Aug. 1 shareholders meeting, Legg will vote its 60.7 million shares (about 4.4 percent of total) in favor of Yang and the incumbents , not the dissident slate led by Carl Icahn that hopes to revive some sort of deal with Microsoft. Acknowledging that major shareholders have a right to be represented on the board, Miller said, “Mr. Icahn’s slate includes people experienced in technology, advertising, capital markets and governance. We would prefer that the company and Mr. Icahn reach a mutual agreement on the composition of the Board and end this disruptive proxy contest.” He also advised Microsoft to stop fussing about who’s on the board and put any offer it...
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Jonathan Miller, the former chief executive of AOL, is apparently trying to raise money to buy Yahoo! Inc. (NASDAQ: YHOO).
The Wall Street Journal is reporting that Miller has been talking to the only people who have any money left to invest right now, deep-pocket private equity investors and sovereign wealth funds. Miller would like to purchase the whole Yahoo! enchilada at $20 to $22 per share, for a total value of $28 to $30 billion.
Yahoo! stock is spiking on the report. As of 1:1... more
A pesar de las negaciones de primero Yahoo y luego Microsoft, parece ser que no pueden vivir el uno sin el otro y ambas compañías se encuentran en negociaciones para la compra del negocio de búsquedas de Yahoo por 20.000 millones de dólares. Según El Sunday Times, MIcrosoft ha aceptado un marco general de negociación pero no hay garantía final de que ambas compañías lleguen a un trato final. Ambas empresas, por supuesto, no han querido hacer comentarios ante los rumores sobre las n... more
Jerry Yang, who made containers full of money when he took his baby Yahoo to the stock market, found out that he also lost control of the company he founded; chairman Roy Bostock rallied the board of directors, they delivered the ultimatum, and CEO Yang announced he would "resign", a word which in this case meant "kicked out of his own company and humiliated"; Yahoo has been on a financial... more
Segn el peridico britnico The Times, Microsoft estara negociando con Yahoo la compra de su divisin de bsquedas en Internet.
The Times escribe que Microsoft estara dispuesta a pagar 20 mil millones de dlares. El hecho que ambas compaas estn negociando nuevamente llama la atencin ya que anteriormente la directiva de Yahoo rechaz los intentos de Microsoft por comprar toda la compaa. Sin embargo, la decisin del fundador de Yahoo, Jerry Yang, de abandonar la presidencia de la ... more
Among the companies whose shares are expected to see active trade in Wednesday’s session are Visa, Procter & Gamble, Legg Mason, MetLife and Sony.
... more
Legg Mason swings to loss after charges October 29th, 2008 BOSTON (MarketWatch) — Legg Mason Inc. on Wednesday reported a fiscal second-quarter loss of $103.8 million, or 74 cents a share, compared with net income of $177.5 million, or $1.23 a share, in the year-earlier period. The Baltimore-based investment manager said the latest quarter’s results included charges of $191.1 million, or $1.35 a share, to support its money market funds that were pressured during the credit crunch. Asse... more
A major item off the iPhone if-only list In an apparent about-face, Apple Inc. will allow third-party applications to work directly on the iPhone, Chief Executive Steve Jobs said in a posting on the company’s Web site Wednesday. Apple infuriated developers and some iPhone users when it issued a software update Sept. 27 that disabled unofficial programs installed on the handsets. Until Wednesday, Apple had tried to control which applications consumers had on their iPh... more
Somehow I suspect this isn’t going to help Sony leapfrog Xbox or Wii Suffering from its exorbitant price point and a dearth of titles, Sony’s PlayStation 3 isn’t exactly the most popular gaming platform on the block. But while the console flounders in the commercial space, the PS3 may be finding a new calling in the realm of science and research. Right now, a cluster of eight interlinked PS3s is busy solving a celestial mystery involving gravitational waves and what happen... more
Depressing reality check Government repression in some countries has shifted from journalists to bloggers, with the vitality of the Internet triggering a more focused crackdown as blogs increasingly take the place of mainstream news media, according to Lucie Morillon, Washington director of the advocacy group Reporters Without Borders . "Countries that were not sentencing journalists to prison terms anymore have been doing it these last months for bloggers. This is the case ... more
Aiming high... It would be hard to overstate the magnitude of the changes that are coming. Standardized, software-powered communications technologies will be the catalyst for the convergence of voice, video, text, applications, information, and transactions, making it possible to create a seamless communications continuum that extends across people’s work and home lives. This will provide the foundation for new products, services, and capabilities that will change the world in pr... more
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