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Bank of America Corporation Message Board

michael5200 2 posts  |  Last Activity: Jan 9, 2015 1:12 PM Member since: Dec 6, 2004
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  • NEW YORK (TheStreet) -- Starboard Value sent a stern letter to Yahoo! (YHOO) CEO Marissa Mayer Thursday.

    In it, the activist investor argued that Mayer should separate Yahoo!'s Asian investments from its core business. Starboard also urges Yahoo! not to pursue a cash-rich split-off as a way of doing this.

    The letter notes there has been recent speculation that Yahoo! is considering a cash-rich split-off, in which Yahoo! would swap assets and cash with Alibaba (BABA) .

    Also Thursday, you had tech blogger Jason Calacanis on CNBC saying that all the criticisms of Mayer are unfounded. He implied that activist investors don't realize how hard it is to run a tech company and that they should just go away and let Mayer make the choices she wants to make -- as if she has dual-class control of Yahoo!.

    But Yahoo! isn't a dual-class company like Facebook (FB) . It's a regular public company. In our democratic system of capitalism, if you choose to take money from public investors in this fashion -- as the Yahoo! founders did 20 years ago -- then you agree to have the possibility that some shareholders might voice an opinion from time to time.

    Other shareholders can ignore those opinions or they can support them. Company management can go out to canvass shareholders and tell them why their operating plan is right and why criticisms are wrong. In general, shareholders tend to trust management more than a one-off shareholder. But sometimes a shareholder can make a compelling argument that has merit. In this case, other large shareholders tend to nudge company management and ask, "What about it?"

    If the arguments are compelling and obviously going to benefit all shareholders, and not just a few, company officials tends to favor those arguments, as the officials are usually big shareholders themselves.

    Here's why the Starboard argument from Thursday's letter makes sense for all Yahoo! sharehold

  • michael5200 Dec 5, 2014 7:26 PM Flag

    per Charlie Schwab's web site

    fourth Quarter Earnings Announcement Expected: Earnings will tentatively be announced 01/27/2015. With 31 analysts covering YHOO, the consensus EPS estimate is $0.29, and the high and low estimates are $0.57 and $0.17, respectively.
    Expected Timing: After close

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