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Investor, Capital Research, Wants Yahoo Shareholder Vote Probe

     
5:18 pm on Aug 5, 2008 (gmt 0)

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Investor, Capital Research, Wants Yahoo Shareholder [reuters.com]Vote Probe
One of Yahoo Inc's largest and most critical shareholders, Capital Research Global Investors, said on Monday it asked for a probe of last week's shareholder vote, a move that calls into question the strong showing for Chief Executive Jerry Yang.

Yang has been under pressure for months over failed negotiations to sell the company to Microsoft Corp and regarding questions about his leadership, but Friday's shareholder vote suggested the tide was turning in his favor.

5:42 pm on Aug 5, 2008 (gmt 0)

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Man all I can say it is all this can't be good for any company as it makes it almost impossible to work with all this going on. Now all they do is position themselves for attacks rather than getting the job done.

I have read "A house divided against itself can't stand" this looks like what is happening within yahoo.

6:04 pm on Aug 5, 2008 (gmt 0)

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The large percentage of people who voted in Yang's favor had me a little confused as well. I wouldn't be surprised to find that the vote was totally rigged.
6:04 pm on Aug 5, 2008 (gmt 0)

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Oh, this is just a way to signal that they are not happy. It's political positioning. Pretty smart, actually. I doubt there will any real news out of this.
6:12 pm on Aug 5, 2008 (gmt 0)

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Perhaps this was actually part of MS's plan to just stir the FUD at Yahoo and sit back and watch them lose market share while being paralyzed by corporate politics.

If you can't beat 'em, you can mess with their head...

8:39 pm on Aug 5, 2008 (gmt 0)

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Update on this story:

SAN FRANCISCO (MarketWatch) -- A firm representing one of Yahoo Inc.'s biggest shareholders said Tuesday that a technical glitch had led to the undercounting of votes effectively cast against incumbent directors at last week's annual meeting.

Story Here [marketwatch.com]

9:00 pm on Aug 5, 2008 (gmt 0)

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Those technical glitches will kill ya when you are counting votes.

I'd hate to be the Yahoo spokesperson assigned to explain that one to the world...

10:27 pm on Aug 5, 2008 (gmt 0)

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LOL, *singing* "I'm diggin a hole, I'm diggin a hole, how far do I go?"
11:35 pm on Aug 11, 2008 (gmt 0)

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>I'd hate to be the Yahoo spokesperson assigned to explain that one to the world...

Yahoo wasn't involved: no big company gets involved with counting proxies. They outsource it, for very good reasons (which ANYONE can understand at times like this.)

The outsourcing company has already explained the problem (it was one of those dumb-programmer mistakes most every programmer you know has made multiple times.) Yahoo will be getting the apology, not giving it.