The upper Mgt that wanted the yahoo sinking ship should be fired!!! Plain and simple!!!
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Why does Verizon go out of its way to overpay for marginal companies? I mean the MCI acquisition was a complete dog and VES is still a complete loser s---ing cash from the mothership. AOL s---s too and add Hughes to the list as well. Now, forking over billions for Yahoo? This is not how we create jobs for sure
The due diligence team couldn't do the level of forensics needed to uncover this. Yahoo's security was so poor they didn't know they'd been hacked.
For me, the bigger questions is why Marissa hasn't been fired for cause. These hacks have reduced Yahoo's value by many many millions, maybe even more than 1 Billion. Why should she skate away with a $55M severance package when the shareholders lost so much value due to incompetence under her watch.
It doesn't help that the NY Times reported that data security took a back seat under her watch. If she get away with this, it just says that the best paid are the least responsible for their performance of the company and it's a big fat lie to say otherwise.
http://www.nytimes.com/2016/09/29/technology/yahoo-data-breach-hacking.html
Who conducted the due diligence on this deal? Someone was asleep at the wheel for sure. This acquisition should be returned to sender! Company is deal driven, but the transactions are nothing less than awful. Corp Development team probably needs to be refreshed.
I thought Shamclown took his golden parachute and got off the sinking ship last month?
Note,
This is in addition to the 400 Million already talked about
1.4 billion.
Bail guys, bail.
Definitely overplayed and overpaid for this hand. LoRent Lowell living down to expectations. Has that idiot gotten one thing right since he has been CEO? He has gotten nothing right since he has been Chairman except how to squander shareholder wealth.
Why? The advertising opportunity is still there.
Sad but very true.