Jerry Yang's Blunder - Worst Business Decision Ever

post from Internet Sector and Stocks Analysis from Seeking Alpha on 30 November 2008 07:18:23 AM. © Internet Sector and Stocks Analysis from Seeking Alpha

Joel West submits:

This week, Carl Icahn doubled down on Yahoo, adding 6.8 million shares (at $9.88 per share) to go with the 69 million he bought earlier at $25/share. Some see this as a positive sign, but increasing his stake by 10% (and net investment by 4%) seems a very weak endorsement of the company‘s future. Others speculate that he wants to influence the choice of top Yahoo to replace soon-to-be-former CEO Jerry Yang, the man who turned down Microsoft’s $31/share offer.

Earlier this week, Merc columnist Mike Cassidy wondered whether Yang’s blunder counted as the “worst business decision ever.” I might have voted for worst decision of the year, but ever?

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