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Mark Cuban looks like the only guy on the proposed slate of directors with any direct experience running a web/software business.
I think the idea here is to sell it, not run it. So the main qualification of the new board would be: can phone MSFT and ask them to again offer $33/share.
I wish gossip whores like Arrington wrote the way angry corporate raiders (or their secretaries, maybe) do.
And now we have all learned to never piss off Carl Icahn... the dude swings with a big bat: > "I have therefore taken the following actions: (1) during the last 10 days, I have purchased approximately 59 million shares and share-equivalents of Yahoo; (2) I have formed a 10-person slate which will stand for election against the current board; and (3) I have sought antitrust clearance from the Federal Trade Commission…
Yahoo's actions weren't in the best interest of its shareholders, but I think they were in the best interest of its user base. How disappointing that the shareholders care so little for Yahoo's users, or its identity as a company.
Interesting to see that Mark Cuban is in the board nambed by Ichan.
It's obvious that the MS offer of $33/share is superior to Yahoo's "standalone" prospects? Really? Long-term, who do you think is on the decline and who isn't? Between the two, I'd bet Yahoo over MS.
It seems to me like if something like this were to succeed - Icahn forcing the current board out and replacing it with a group whose primary qualification seems to be that they'd approve a sale - Yahoo would lose a lot of leverage to negotiate a favorable price for its shareholders. Does anyone know how that's dealt with? Would he already have agreed to terms with MS before initiating this?