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, please click here.

As usual, people don't understand why Yahoo!(YHOO Quote) should trade up, given how "bad" it is. That's a pile of nonsense.

Yahoo! was bad because of now former CEO Terry Semel and his team. Anyone who doesn't know this has never been on the Web, never been involved in business with the Web and doesn't understand the dynamism of the situation.

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. ...