Yahoo! Is a Disgrace

Yahoo!'s (YHOO - commentary - Cramer's Take) just too outrageous. It's a total insult, a contemptible method of dealing with shareholders and an amazing show of hubris.

I am revolted.

Jerry Yang and this board should be forced to resign. Where are the activist shareholders? They had better surface. We need a Carl Icahn here, or one of the myriad hedge funds that go after managements that are entrenched and fat and happy.

I think the high-fives that this management's team gave each other after the "defeat" of Microsoft shows me that there is really no hope for shareholders here, whatsoever. It sells at 50 times earnings, it's on the decline -- the last quarter was a complete one-time-only -- and I think that there's a level of outrage here that is reflective of the 1980s before the raiders shook things up.

I am revolted.

It is, however, a great reminder that when you get a bid, you take it.

Don't be an arbitrageur unless you are a professional.

And for the record, this is one of the worst-run major companies in the world. Together with Microsoft (MSFT - commentary - Cramer's Take), they might have had a chance to stop Google (GOOG - commentary - Cramer's Take).

Now it is game, set, match for Google. All because of a board and a CEO who didn't want to lose their jobs.

At the time of publication, Cramer had no positions in the stocks mentioned.

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