Yahoo!: Don't Jump the Ship
This column was originally published on RealMoney
on June 19 at 9:19 a.m. EDT. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney,
As usual, people don't understand why Yahoo! (YHOO) should trade up, given how "bad" it is. That's a pile of nonsense.
Yahoo! was bad
I don't know if founder Jerry Yang's the right guy. I do know that Semel was the wrong guy. He was disengaged and nobody liked to work there. Keep in mind, this is a Web company, and the amazing thing about a Web company is that most people actually want to work at them because they are exciting and inventive and employees can really make a difference.I know the current perception of me is that I am some TV guru with a column on the Web, but not that long ago I was more well-known as an inventor in the media, and I have to tell you, I have seen Yahoo! fade from being the greatest company on earth to a company that seems like one of these failed states. It is not too late. Yahoo! can be a great company again. It still has the eyeballs and the elegance. It still is needed. It still can be re-energized, and I am genuinely excited about it not as a takeover target but as a company that can turn the earnings corner. Of course, there are no guarantees. Bad management could lead to worse management. But I am not planning to sell it out of my
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