CHART OF THE DAY: Yahoo's Momentum Dies (YHOO)

After Yahoo's decent earnings report, investors were gaining a little bit of confidence in the company. But whatever confidence they were gaining evaporated when Yahoo disclosed that the Alibaba Group had sold off a part of its business without telling Yahoo. Considering that much of Yahoo's value is now tied to its Asian assets, this was devastating. It set off a fresh round of questions about how much control Yahoo actually has over its Asian assets and send the stock crashing.

Follow the Chart Of The Day on Twitter: @chartoftheday For the latest tech news, visit SAI: Silicon Alley Insider. Follow us on Twitter and Facebook.Join the conversation about this story »See Also:Yahoo's Stock Is Getting Slammed After Carol Bartz And Team Blow It With Chinese Assets Yahoo Knew About The Big Alibaba-Alipay Deal 2 Years Ago, Says AlibabaYahoo Protests Against The Asset Transfer That Sent Its Stock Diving

Dear Yahoos: When Thompson Explains Himself, Please Share With Us (YHOO)

Yahoo CEO Scott Thompson has to explain his misleading bios to employees at some point. When that happens, we would like to share with readers and shareholders. Please email nicholas@businessinsider.com or call 646 376 6014. Please follow SAI on Twitter and Facebook.Join the conversation about this story »

This Is The Best Thing To Happen To Yahoo In Years (YHOO)

Today's events at Yahoo have the potential to be a major positive turning point for the company. First, Yahoo's dysfunctional board actually moved relatively quickly to make a decision they had to make, which was to remove CEO Scott Thompson. By waiting a week to offer any sort of explanation for the bogus degree on his bio--and then having his explanation immediately and angrily exposed as a lie by the headhunting firm he blamed for the mistake--there was no conceivable way Thompson could have remained as CEO. By being allowed to resign instead of getting fired for cause, Thompson will probably walk away with a considerable amount of money. This will be galling to those who are now convinced that he fabricated the degree himself. But allowing the resignation was expedient for Yahoo, and it will reduce any legal exposure the company faces from filing erroneous statements with the SEC. Second, five Yahoo board members resigned effective immediately. The main problem at Yahoo over the past decade has been the Board of Directors, which has made one disastrous mistake after another. Individually, the board members are smart, capable people, but together, they have made (and avoided making) decisions that have helped run the company into the ground. With such a large number of board members resigning, the new board will have few ties to the past. Third, the new Yahoo board members--investor Dan Loeb, turnaround specialist Harry Wilson, and media consultant Michael Wolf--have expertise that Yahoo desperately needs. Just as important, they have no interest in preserving any status quo. Lastly, and also very importantly, with the appointment of Ross Levinsohn as CEO, Yahoo is now, finally, being run by an executive who knows the business that Yahoo is actually in: Digital Media. For years, many people at Yahoo, along with the Yahoo board, have gazed with envy at the success of more technology-oriented companies like Google. Yahoo's own vision, meanwhile, has drifted all over the map. Terry Semel's regime was an old-media regime, and it took the company too far toward the old Hollywood and TV media model. Jerry Yang's regime wanted to turn the clock back to the "start page" model of the mid-1990s, without acknowledging that the industry had long since moved on. Carol Bartz's regime had no vision at all for where to take the company, at least not one that was visible to anyone inside or outside the company. The appointment of the unknown Scott Thompson as CEO, meanwhile, appeared to be an attempt to steer the company back toward technology. But Yahoo isn't in the "technology" business. It's also not strictly in the "media" business--at least not the old-media business. Yahoo's in the digital media business. And it is one of the most powerful digital media companies in the world, with a staggering 700 million users a month. The digital media business is not as good a financial business as, say, Google's search business, but it has other virtues--such as the ability to inform, entertain, and influence nearly a billion people around the world. That attribute has always been attractive and important to people in the media business. It's why many of them work in the media business, instead of, say, the technology business or the investment-banking business, both of which often have bigger bottom lines. Yahoo's position in the digital media business, moreover, is an extraordinarily powerful one: It is both content creator and content distributor. And, like all good digital media companies, Yahoo is both a technology and a media company: It's product is a combination of both. Without great technology, you can't deliver great content, create communities, and build platforms. Without great content, meanwhile, you can't get anyone to use the great technology you build. With Ross Levinsohn at the helm, Yahoo can finally stop trying to become something other than what it is. Instead, it can finally celebrate what it is, and press forward to become a much better digital media company. The Scott Thompson episode is one of the most bizarre in corporate history. Importantly, however, it has now led to sweeping change in a board that seemed unable to function intelligently, and it has led to Yahoo now having the right kind of expertise at the top. Scott Thompson's fake resume, in other words, has finally brought change to Yahoo that it has needed desperately for years. If for nothing else, Yahoo shareholders can thank him for that. DISCLOSURE: I work for Yahoo (as a host of Yahoo Finance). I am a Yahoo shareholder (since 1998--oof). I know tons of people at Yahoo and on Yahoo's board. I know lots of Yahoo investors, many of whom I like personally.  I like Ross Levinsohn, and I'm glad he's CEO of the company. Yahoo and Business Insider have a syndication partnership, which I am thrilled about.  I like a lot of other people in this drama personally and don't like to do things that make them not like me. So, basically, I'm conflicted out the wazoo. Please follow SAI on Twitter and Facebook.Join the conversation about this story »

New Yahoo CEO Scott Thompson's Turnaround Plan (YHOO)

Three weeks after joining, new Yahoo CEO Scott Thompson hosted his first quarterly earnings call today. He declined to get into specifics, but he outlined the general principles of his turnaround plan. It all revolves around "balance" he said.

It needs to "balance" it's approach to customers, which are both users and advertisers. 

Yahoo needs to "balance what we are," said Thompson. He said Yahoo is a media company and a technology company. "We need to do both. We end the debate about which is more important. We must do both."

Yahoo needs to balance "thoughtfulness with speed." "I want to go fast," he said. "I immerse myself in details, but I make decisions fast. We will bring speed back into the equation. That's how we get into playing offense instead of defense."

Yahoo needs to balance its capital allocation between products of today, tomorrow, and the distant future. Thompson said Yahoo should invest most of its money in today's products, a "very signicant portion" toward products of tomorrow, and " a small, but meaningful amount" on products that will come out more than a year from the present. He said Yahoo will be open to new business models as it strives to innovate.

Beyond "balance" Thompson is convinced that "data" will play a huge part in Yahoo's turnaround. He called data "Yahoo's most undervalued asset" and said,  "I believe data will be the key component for driving innovation at Yahoo. It will be the cornerstone for creating new products and services." Thompson said Yahoo can use data to give users "uniquely releveant experiences," something "nobody's done yet on the Web." Prompted by an analyst, Thompson said that another component of Yahoo's turnaround would be aquisitions. To paraphrase, he said: I suspect that there will be places where we don't ahve the technologies today or the capablities today. If we want to put forward these agendas quickly, we'll have to be aggressive in the market. I'm relatively certain here that there will be things that interest us and fill in technology gaps we have today. Please follow SAI on Twitter and Facebook.Join the conversation about this story »See Also:Yahoo Is Planning A Round Of LayoffsJerry Yang Had To Step Down To Give Scott Thompson A Chance With Yahoo ExecsRoy Bostock Hasn't Left The Yahoo Board Because He Needs To Finish Selling The Asian Assets

Scott Thompson Walks With $7 Million, But No Severance (YHOO)

Even though he got fired for mishandling a scandal about his academic credentials, Scott Thompson got paid handsomely for his four-month stint as Yahoo's CEO, an SEC filing shows. As we reported last week, Thompson had already earned a $7 million bonus—$1.5 million in cash and $5.5 million in restricted stock—just by sticking around for a couple of months. He negotiated those amounts when he signed on as a "make-whole" bonus to compensate him for cash and stock awards he left behind when he joined Yahoo from eBay's PayPal subsidiary. Earlier today, CNNMoney reported that Thompson's contract might require him to repay those amounts if he voluntarily resigned. But that's a moot point, since Thompson and Yahoo negotiated a separation agreement which explicitly allows him to keep those bonuses, while waiving claims to any other severance. Executive-compensation expert Chris Crawford, COO of Longnecker & Associates, told Business Insider last week that it would be tough for Yahoo to claw back bonuses it had already paid. Such clawbacks are a new and contested area of employment law. And it's smart for Yahoo to clear the decks for interim CEO Ross Levinsohn to continue the company's turnaround, rather than have the drama of a fight over the terms of Thompson's departure. And Thompson can grapple with his own issues—like his recent diagnosis of thyroid cancer. Please follow SAI on Twitter and Facebook.Join the conversation about this story »

Yahoo's Big Plan To Sell Off Its Asian Assets Is Dead Now (YHOO)

Yahoo has stopped talks with its Asian partners about selling back its stake, Kara Swisher at All Things D reports. Yahoo is no longer interested in a "cash-rich split" with Alibaba and Yahoo Japan. Yahoo's stock dropped 7% in reaction to the news. More to come ... Please follow SAI on Twitter and Facebook.Join the conversation about this story »See Also:CHART OF THE DAY: Hate To Be Rude, But Facebook Is Not The Next Google. It's Not Even CloseThe Most Depressing Thing You'll Read About Yahoo…TodayYAHOO BOARD SHAKEUP!

CHART OF THE DAY: Here's Something Marissa Mayer Has To Fix (YHOO, GOOG, AOL)

Yahoo Finance is one of the best things Yahoo has. It's good for stock quotes, company information, and financial news. It's also one of the few things Yahoo did that totally crushed Google. As you can see in this chart from comScore, Google Finance is nowhere near Yahoo Finance. Unfortunately, the audience at Yahoo Finance is in decline. This is one property that Marissa Mayer should be investing in. She should try to reverse this traffic slide and protect one of Yahoo's best, most successful Yahoo. Follow the Chart Of The Day on Twitter: @chartoftheday Please follow SAI on Twitter and Facebook.Join the conversation about this story »

Yahoo's New CEO 'Trashed' Yahoo's Product Team Last Week, Plans Big Changes (YHOO)

After spending a few weeks getting the lay of the land, new Yahoo CEO Scott Thompson is starting to make some moves. He's upsetting people in the process. A pair of sources close to the company say Thompson spent a long time meeting with Yahoo's product teams last week. During the meetings, says one source, Thompson "trashed" the efforts of the product team. This source says Yahoo product boss Blake Irving left the meeting "pretty down." This morning, AllThingsD's Kara Swisher had some color on the meeting: "Thompson reportedly quizzed the group on its plans, and pressed it to look less at short-term features and maintenance than on finding the next great thing." She also says the product team is going to have a re-org. Mark Morissey will head monetization. Jay Rossiter will run "platform," and Sashi Seth will do consumer-facing products. One Yahoo source says the company is in "chaos." "Scott is in a bunker, spending a lot of time listening to [board member] David Kenny. The whole company seems uninspired right now. The word going around that best describes Scott is "megalomaniac." Another Yahoo we spoke to says that people at the company expect big, sometimes painful changes from Thompson, and that's OK and even wanted. But this person says Thompson has to make his big move quickly and in one go; he has to rip the bandage off. This person says that from a revenue, brand, and employee retention standpoint, Yahoo cannot afford to have months of changes. Endless, on-going adjustments to the organization – its mission, budgets, and products – will "crush the place." We'd like to hear from more Yahoos, who can email nicholas@businessinsider.com or call 646 376 6014. Please follow SAI on Twitter and Facebook.Join the conversation about this story »See Also:Yahoo Could Pose A Problem For Facebook If It Tries To Enforce Its 1,000+ PatentsCHART OF THE DAY: Hate To Be Rude, But Facebook Is Not The Next Google. It's Not Even CloseThe Most Depressing Thing You'll Read About Yahoo…Today

Yahoo Chairman Fred Amoroso Quits (YHOO)

Fred Amoroso, Yahoo's chairman, has resigned. Yahoo said Amoroso will continue to serve on the board through the next shareholders meeting on June 25, but he will not seek reelection. Maynard Webb, Jr. will serve as interim chairman of Yahoo's board. In a statement, Amoroso said it was always his intention to serve as chairman for just one year. Amoroso is the former CEO of Rovi corporation and led the investigation against former Yahoo CEO Scott Thompson after it was discovered Thompson listed a college degree on his resume that he didn't actually earn. Thompson eventually left Yahoo and the board hired Marissa Mayer to replace him. Here's the full statement from Yahoo: Yahoo! Inc. today announced that Fred Amoroso has decided not to seek reelection to the board of directors at the upcoming 2013 annual meeting of shareholders. Amoroso will continue to serve on the board through the shareholders meeting on June 25, but has resigned as chairman of the board. The board has appointed Maynard Webb, Jr. to serve as interim chairman. "Fred has been a wonderful chairman for Yahoo! over the past year, and I'm personally grateful for his trust and guidance as I took on the role as Yahoo! CEO," said Yahoo! CEO Marissa Mayer. "Fred's mentorship and perspective has proved truly valuable to me in my first few months here at Yahoo!." "I'm very grateful and proud of the progress Yahoo! has made over the past year," said Amoroso. "When I took the position as chairman, I told the board that my intention was to serve for one year, in order to help Yahoo! during a critical time of transformation. In that time, Yahoo! hired a great new CEO, brought on a fantastic management team, revitalized the employee base, and has begun to release top notch new products. With Marissa at the helm and the leadership team in place, this is a natural time for me to transition off the board, consistent with what I said a year ago." Following the completion of Amoroso's term at the annual meeting, the board will comprise 10 members. Please follow SAI on Twitter and Facebook.Join the conversation about this story »    

CHART OF THE DAY: The Rise And Fall Of Scott Thompson (YHOO)

That was quick, wasn't it? After just four months at the helm, Scott Thompson is done at Yahoo. Here's a look back at his brief run.

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