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Looks like new submissions now require that you pay to be re-reviewed every year. Haha. It's still worth it for some sites, but thats a little much IMHO. For most, its money better spent on goto. And as soon as next year's renewal fees come in, they'll probably change the entire SERP's to PPC. Lol.
I mean, we are paying $300 for the POSSIBILITY of getting listed for only 1 year and POSSIBLY getting good copy in our description and POSSIBLY getting a ranking somewhere that will bring in more than a hit or two a day, less likely now with a half dozen overture results on each page. Alternatively, I could spend $300 on some 30c listings on overture and be GUARANTEED a full 1,000 click throughs with better targetting as I pick the title and description and a wider range of distribution. For smaller markets, this is a no-brainer decision. Just depends on if you're expecting a few dozen or more hits a day from yahoo or just a small handful.
They have a robot to check for 404 links (morgue.corp.yahoo.com, I think), they could hire 1 or 2 people to constantly run through the directory looking for bait & switch sites and other no-longer-relevant ones, and I think they could pay them a fine salary by charging $10-25/year renewal fee.
$299/year is (IMO) an obvious sign of Yahoo! scrambling for cash... but I wonder how much more of this cash-grabbing will have to happen before their latest scheme becomes the provebial back-breaking straw? I think a boycott could be a perfectly viable idea, if professional SEOs made a concerted effort to explain to their clients exactly how uncertain Yahoo's future really is, and how their constantly changing SERPs (Hello Overture!) and fee schedule make it a very questionable investment.
The Yellow pages haven't changed the way they worked in years. Everyone knows what they're getting with a yellow page ad, and while the fee schedule may change from year to year, you're GUARANTEED a listing in the Yellow Pages as long as you pay the fees. None of this pay-for-review crap.
This latest fee change may very well be the straw that convinces me to work around Yahoo for my own sites.