Congratulations — you pulled it off. You got Microsoft to walk away from your beloved Yahoo for good. The final word went out on Thursday. There isn't going to be any megamerger. No smaller deal to sell your search business, or take a minority stake, either. As Yahoo's co-founder and chief executive, you're undoubtedly thrilled. But your shareholders sure aren't.
I am certainly no fan of the Times, but Joe Nocera hit the nail on the head. There were no winners in the breakdown of the Microsoft-Yahoo deal. Yang has deprived his shareholders of value.
He took a lot of money out of their pockets (claiming that Yahoo! has some value that nobody else sees).
He poisoned the well.
He now has to show the world where this value is so that the stock price recovers and the shareholders get their return. I am guessing that will never happen. Yang must go.
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