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Yahoo!'s Yang: The 'Height of Hubris'

Yahoo! CEO Jerry Yang has been on Cramer’s Wall of Shame since June, after the struggling internet firm turned down Microsoft’s premium takeover bid. The Mad Money host has never forgiven Yang for that.

Well, it turns out someone else on the CNBC staff has reserved a special place in his heart for the Yahoo! chief exec: tech reporter Jim Goldman. Yang’s refusal to merge with Microsoft when the offer was at $34 only to now think the deal makes sense when the stock’s trading at just under $14 is the “height of hubris,” he told Cramer Thursday. Now the company and its shareholders must be wistfully dreaming of that original bid because Goldman thinks, if a deal happens at all, Yahoo! will be lucky to get $17.

So he and Cramer are in agreement – Yang needs to go.

Watch the video to hear more from Goldman on Yahoo!’s mismanagement.




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