Jerry Yang is my Hero

Yes, I'm a nerd. My heroes are all nerds. But Jerry Yang and friends over at Yahoo just took the cake. When I read the latest news I literally jumped up and cheered.

Microsoft's attempt at a hostile takeover was idiotic at best. Stevie B huffed and puffed and in the end failed. That was a big win for Yahoo, and it showed Microsoft wasn't as all-powerful as everyone had generally assumed. Then the scum of the earth showed up, a man that makes Gates and Ballmer look like they belong on Blues Clues. Carl Icahn came in and bought up millions of dollars of shares and made it known he was going to oust the board and sell off Yahoo in pieces, destroying the company to net himself some cash. The "vulture investors" like him make me sick, they destroy good companies so they can make fortunes will doing no work and hurting millions of litte guys. It looked like all was lost.

Fortunately Yang had an ace up his sleeve, actually has had an ace up his sleeve for months now. Back when Microsfot threatened a takeover they passed an addition to their contracts saying that if anyone tried to take over Yahoo the employees would get a massive severence package if they are fired, leaves because they are unsatisfied with the takeover, or even if their job changes. Word on the street is they have a pact that if anyone tries to take control from Yang there will be a mass exodous, costing the company over $2 billion, which is over 400% of their annual income.

Icahn is furious and is demanding they take that part of the contract out. But Yahoo was smart enough to add another provision that the contract can't be changed if it will hurt employees, which that change definitely will. Icahn's retort was that he will fire them all for their insolence, which of course will cost them $2 billion and destroy their market value, essentially robbing Icahn of the $2 billion he has invested.

A story like this makes me smile to no end. Carl should back out now before he looks like anymore of an arrogant jerk.