A new chapter was added to the on-going saga and neverending story called Yahoo this weekend. The company finally held it's annual shareholder meeting, and unfortunately nothing really happened, as the company's board had reached an agreement with investor Carl Icahn a fortnight prior, diverting a battle of proxies.
The old board of directors was voted again and saw cofounder Jerry Yang get 85.4% of shareholders votes, whilst Roy Bostock, the man Icahn chiefly enjoyed writing open letters to, garnered 79.5% of votes. Robert Kotick received the most votes, namely 92.4%, as a nice pat on the head and a cigar. Kotick had previously announced he was going to step down and make space for Mr. Icahn. Shareholders also voted to expand the number of seats from nine to 11, stated Yahoo in it's press release.
According to other reports, the one or other shareholder told Yahoo it was evil for sticking to the laws in China, dutifully reminding the company it had the moral obligation to export human rights to China, to make the world a better place where roses can sprout and bees multiply in peace and happiness.
Yahoo's cofounder Jerry Yang uttered that 'we are redoubling our commitment to driving sustained, profitable growth for our stockholders.' Considering the latest quarterly release which displayed relatively flat growth, the board really ought to.
A 71 year old investor reportedly said that he thought Microsoft was the wrong corporation, which he called an over-the-hill, green-tentacled octopus. It is our solemn and grave duty to correct this impression. Octopi do not live on land. Perhaps said investor alluded to a Lovecraftian entity of lesser good and more evil, however such a tentacled chthonic behemoth would not be over-the-hill, but come from under the hill or from beyond the stars.
It would certainly make this interminable saga more interesting. X