Shafting Yahoo's Shareholders

06/22/2008 05:12 am ET | Updated May 25, 2011

Here's the problem, Jerry. It's not your baby. It hasn't been since 1996, when Yahoo went public. At that moment, you suddenly had to answer to your new owners: your shareholders. In fact, Jerry, as a board member since Yahoo went public, it has always been your job to look out for Yahoo's shareholders. But we sure wouldn't know that from the way you've acted these past months. I haven't seen this much contempt for shareholders since Robert Nardelli ran Home Depot.

I can hear you now, protesting that it was Microsoft that walked away, not you, that you were always open to a deal, and that you were just trying to negotiate a better price than the $33 a share Microsoft ultimately offered. That's been your spin all along

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