Skip navigation
MOST POPULAR RELATED TAGS
  • TOPICS
  • SECTORS
  • COMPANIES

MAD MONEY FEATURES

Podcasts PODCASTS
Watch the Lightning Round whenever and wherever you want.




Widget OFFICIAL MAD MONEY WIDGET
Grab this all-in-one application and get recaps of the show sent right to your desktop or blog.




Soundboard CRAMERS SOUNDBOARD
Admit it: You've always wanted to hit the "They
know nothing!" button. Here’s your chance.




Mad Money PhotosCHECK OUT OUR PHOTOS
Check out Cramer on set, back to school, behind the scenes and more.




ShopSHOP FOR MAD MERCHANDISE
Buy Cramer books, bobbleheads and other Mad Money merchandise.




Ringtones RING TONES
Pick up the phone! It's Cramer! New Mad Money sounds for your cell phone.




Mobile AlertTEXT MESSAGE ALERT
Mad Money's mobile. Get show highlights sent to your phone.







Text Size
Jun.16
7:16 PM ET
Monday, 16 Jun 2008
More Boohoo Than Yahoo for Yang

American International Group [AIG  Loading...      ()   ] CEO Martin Sullivan – described by Cramer as a “serial destroyer of value” – finally stepped down over this past weekend.

That leaves an open slot in the Mad Money Hall of Shame. So who gets it?

Yahoo! [YHOO  Loading...      ()   ] CEO Jerry Yang.

New York Times business columnist Joseph Nocera – who recently wrote about Yang – stopped by the show to explain why.

“Their company has not done a thing – in what? – five, six, seven years?” Nocera said. “And they’re getting their lunch eaten by Google [GOOG  Loading...      ()   ]. And they don’t have a plan for the future.”

But still Yang turned down Microsoft’s [MSFT  Loading...      ()   ] buyout offer, which was a 62% premium to the stock’s trading price, just to spite the Evil Empire.

“OK, you hate Microsoft. We get it,” Nocera said. “Everyone in Silicon Valley hates Microsoft.”

Apparently, Yang never once thought about Yahoo!’s shareholders.

“If you go public, and you’re the CEO, and you’re on the board, there’s this thing called fiduciary responsibility” to the stockowners, Nocera said.

Now it’s up to Carl Icahn, the billionaire activist investor leaning on Yahoo!’s board of directors, hoping to unlock some of the company’s value.

“If Carl were to walk away at this point,” Nocera said, “this stock would collapse.”

While the Yahoo! saga may not be finished, Nocera admitted, Yahoo! the company is.

“There are very few things that seem more clear,” he said, “than the fact that Yahoo!’s days are numbered.”

Most likely then, so are Yang’s.




Questions for Cramer?

Questions, comments, suggestions for the Mad Money website?

© 2009 CNBC, Inc. All Rights Reserved

Tools:
PrintEmailAdd This share icon
Next Post
  • digg share
ADD COMMENTS
Remaining characters


Current DateTime: 05:16:09 01 Dec 2009
LinksList Documentid: 29778428

Current DateTime: 01:04:13 01 Dec 2009
LinksList Documentid: 29779196

Current DateTime: 05:04:24 01 Dec 2009
LinksList Documentid: 29779199

Current DateTime: 07:24:03 01 Dec 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters