Yahoo CEO Jerry Yang to employees: We're looking at other options; Don't get distracted

Yahoo CEO Jerry Yang to employees: We're looking at other options; Don't get distracted

Summary: Yahoo CEO Jerry Yang told employees in an email that the company has made "absolutely no decisions" about Microsoft's $44.6 billion unsolicited bid.

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Yahoo CEO Jerry Yang told employees in an email that the company has made "absolutely no decisions" about Microsoft's $44.6 billion unsolicited bid. He added that the board is also looking at other strategic alternatives.

He also urged employees to forge ahead and not let "any of the noise we’re hearing around this situation distract us from our core mission."

For those keeping score at home, Microsoft announced an unsolicited bid for Yahoo. Yahoo is exploring options. And Google is likely to play some kind of role as spoiler. And detours on this story line abound (Techmeme).

Here's the email as filed with the Securities and Exchange Commission:

Subject: more on today’s news... -CONFIDENTIAL-

fellow yahoos:

since we talked to you this morning, there’s been a lot of media coverage and industry chatter about microsoft’s unsolicited proposal to acquire yahoo!. we know you’ve been hearing and reading a lot about this. that’s why we wanted to reach out to all of you at the end of the day to emphasize a few things that we hope will give you some more context about this proposal, the process that our board is taking, and what you can expect in the days ahead.

first, we want to emphasize that absolutely no decisions have been made — and, despite what some people have tried to suggest, there’s certainly no integration process underway. this proposal is just that — a proposal. and it was only made in the last 24 hours. you can be sure the board is going to review it thoughtfully and carefully, and do what’s right for our great company. microsoft’s proposal is one of many options that we’re evaluating in order to maximize value for our shareholders and employees over the long-term. that’s why we will respond to microsoft after our board has completed a careful review of all of our strategic alternatives.

second, we can’t let any of the noise we’re hearing around this situation distract us from our core mission. it’s critical that we continue to focus on running our business, executing our strategy and delivering value to all of our users, advertisers and publishers.

finally, we realize that this may have been a tough day for many of you, especially those on the front lines of our business. we know you have many questions, and we’re committed to making sure you’re as informed as possible as this process moves forward. in the interim, we both want to thank you for your continued energy, focus and determination. we’ll continue to share information with you as we have it and can do so.jerry and roy bostock (our new non-executive chairman)

Topics: Enterprise Software, CXO, Collaboration, Legal, Microsoft, Social Enterprise

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16 comments
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  • Translation:

    "Sell now and get the hell out while you can."
    ejhonda
    • I disagre Translation:

      Come on Microsoft. other want us so you will have to pay more per share for us
      GuidingLight
      • Or. withdraw the offer

        and watch Yahoo's stock do a flaming nose dive...
        No_Ax_to_Grind
  • Jerry Yang is desperate.

    Employee's keep working as hard as you can till we lay you off. (Yeah, that makes sense.)

    We haven't even thought about the MS offer. Bull, they have thought of nothing else since it was made.

    We are looking at other options. Clue, if ya had other options you would have taken them and not be laying of employees every quarter.


    All I see here is that the board is going to take Jerry's toys away and show him the door and he is trying deperately to save something.
    No_Ax_to_Grind
    • re: desperate

      [i]We haven't even thought about the MS offer. Bull, they have thought of nothing else since it was made[/i]

      Actually, what he wrote was [b]"first, we want to emphasize that absolutely no decisions have been made"[/b]

      I'm sure they have thought of nothing else. Probably had numerous meetings trying to decide what to do... that doesn't mean they've made a decision.

      [i]We are looking at other options. Clue, if ya had other options you would have taken them and not be laying of employees every quarter.[/i]

      I too wonder what other options they're considering.
      Badgered
      • Well, no "official" decison,,,

        but you and I both know they would be nuts to pass up an offer thata 60% premium.
        No_Ax_to_Grind
  • RE: Yahoo CEO Jerry Yang to employees: We're looking at other options; Don't get distracted

    Nice going Jerry. Ever hear of using CAPITAL letters when you write something? No wonder your company is going down the toilet. Try learning proper English first, then write your employees and the SEC.
    IT_Guy_z
  • Resistance is futile ...

    ... You will be assimilated.

    Any company which thinks it can be a Frodo against The Eye of Redmond is dreaming.

    The philosophy of "If you can't beat 'em, buy 'em" will ALWAYS prevail.
    OButterball
  • RE: Yahoo CEO Jerry Yang to employees: We're looking at other options; Don't get distracted

    Oh I love it how these CEOs perform before a major layoff in order to maintain the loyalty of their associates. They should wear top hats and spatts like the tap dancing clowns they are.
    KrUshPruF
    • I agree 100%

      An employee that knew he/she was being laid off has to be thrilled that MS is buying Yahoo.
      No_Ax_to_Grind
  • go short YHOO at these levels

    <eom>
    killerbunny
  • Yahoo Will Go With Google

    Watch.
    itanalyst
  • "What's Best for the Company"

    ...isn't always what's best for the employees--unless they own stock. At the end of the day, however, neither Yahoo! nor any other company "owes" a person a job. There is a groundswell in this country that would lead me to believe there are too many who feel otherwise. There are a few comments here that underscore that thought. Unless you're a socialist--a dogma that runs somewhat contrary to free-market capitalism--you ought to realize that the worker is a modified commodity and is not owed anything but compensation for services performed. Since Yang couldn't manage himself out of a virtual paper bag, he's "considering a variety of options" (read: looking to cash out and get out).
    CosmoAgain
  • Yeah, keep working while I sell my stock...

    That will keep the price up so I can make a killing.
    The only thing I am really considering is where to invest my millions and/or what country to retire to... lol
    jrbeaman
  • Stock is investing in a corporation.

    You purchase stock and the company uses that money for invention or upgrading.I could own all of Yahoo's stock but I would not own Yahoo.I see,especially in small towns,somebody comes in and says that this is a corporate violent takeover."Honey I just lost the company" is what has to be avoided here.
    BALTHOR
  • They destroy their country

    Then the come to America for a free,off and running,corporation!
    BALTHOR