Yahoo delays board election to resist Microsoft takeover
Yahoo has extended a deadline for nominating candidates to its board to give it more time to fight off a Microsoft takeover.
Yahoo is reportedly considering other deals and talking with Time Warner about a joint venture with AOL.
Yahoo rejected Microsoft's $45 billion offer of Feb. 1 as too low. Microsoft still hopes to complete the deal, and one way would be trying to elect its supporters to the Yahoo board.
The previous deadline for nominating board members was March 14. Now it will be 10 days after Yahoo announces the date of its shareholders meeting.
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Wanting to explore its options to a takeover by Microsoft, Yahoo took a step today to give it time to do just that.
The Internet portal said it is extending the deadline for nominating directors to its board. Previously, such nominations were due March 14. Now Yahoo will accept them until 10 days following the announcement of the date of its annual meeting, and pointedly did not set a date for that meeting.
The nomination process is important, because Microsoft - after having its buyout offer rejected by Yahoo - is threatening to nominate its own slate of directors to Yahoo's board who would presumably agree to the takeover.
Yahoo took the step to remove the distraction of a so-called proxy contest for control of its board and allow it to weigh other options, CEO Jerry Yang said in an email to employees sent this morning.
'In light of the current circumstances, this change removes an imminent deadline. Microsoft, of course, could still choose to name directors, but our objective here is to enable our board to continue to explore all of its strategic alternatives for maximizing value for stockholders,' Yang said.
Yahoo has reportedly been in talks with Time Warner about creating some kind of combination with the media company's AOL unit.
Thursday, March 6, 2008
Adobe is in odd after iPhone Flash jab
""Flash and Flash Lite are a huge success. All major handset manufacturers worldwide license Flash today delivering a broad range of mobile devices ranging from feature phones to smartphones and consumer electronic devices. With more than 450 million Flash-enabled mobile devices shipped worldwide and 150 percent year-over-year growth we are on track to see 1 billion Flash enabled devices by 2010. Consumers demand a rich Web experience on any device and platform and Flash delivers just that. We look forward to our continued relationship with industry leaders to deliver engaging experiences to consumers worldwide."
Steve Jobs went face to face with Apple shareholders on the company’s annual meeting on Tuesday, answering a whole range of questions, from the iPhone, to plans for the future, retail achievements and objectives and a post-Steve Jobs era at Apple.
Apple’s CEO avoided to point out a name as a possible future successor, answering vaguely that any of the board of directors’ members is a potential replacement for him. Hard to imagine though Apple without Jobs, or the man capable of replacing Jobs not only in his job, but in his presence: it’s hard not to think of Jobs when you say Apple.
The iPhone was of course among the matters discussed, and Jobs promised more from the iPhone this summer, with a new set of applications coming our way. The Asian market remains one of Apple’s objectives for 2008, although nothing in particular has been said on this subject: “We will enter Asia with the iPhone in 2008… We will one day enter China, we’re not saying when, and we will one day enter India,” chief operating officer Tim Cook said at the meeting.
Information on future plans have of course been scarce, as usual, but one thing Jobs did say was that Apple will not opt for Adobe’s Flash Lite on the iPhone, as it is considered to be too slow for the time being, and unless it will suffer a performance-enhancement change, Flash Lite will not be supported on the iPhone.
The subject of Apple’s drop in stock price starting this year hasn’t been to intensely discussed, but Jobs was asked whether the company was planning to pay dividends to investors or start a stock buyback program, but Jobs denied the company has any plans in this sense. At the same time, one of the shareholders asked why the shareholders have not received a letter of reassurance on the share price, just like the employees did, but Jobs said they are focusing on the company, rather than on the shareholders.
Steve Jobs went face to face with Apple shareholders on the company’s annual meeting on Tuesday, answering a whole range of questions, from the iPhone, to plans for the future, retail achievements and objectives and a post-Steve Jobs era at Apple.
Apple’s CEO avoided to point out a name as a possible future successor, answering vaguely that any of the board of directors’ members is a potential replacement for him. Hard to imagine though Apple without Jobs, or the man capable of replacing Jobs not only in his job, but in his presence: it’s hard not to think of Jobs when you say Apple.
The iPhone was of course among the matters discussed, and Jobs promised more from the iPhone this summer, with a new set of applications coming our way. The Asian market remains one of Apple’s objectives for 2008, although nothing in particular has been said on this subject: “We will enter Asia with the iPhone in 2008… We will one day enter China, we’re not saying when, and we will one day enter India,” chief operating officer Tim Cook said at the meeting.
Information on future plans have of course been scarce, as usual, but one thing Jobs did say was that Apple will not opt for Adobe’s Flash Lite on the iPhone, as it is considered to be too slow for the time being, and unless it will suffer a performance-enhancement change, Flash Lite will not be supported on the iPhone.
The subject of Apple’s drop in stock price starting this year hasn’t been to intensely discussed, but Jobs was asked whether the company was planning to pay dividends to investors or start a stock buyback program, but Jobs denied the company has any plans in this sense. At the same time, one of the shareholders asked why the shareholders have not received a letter of reassurance on the share price, just like the employees did, but Jobs said they are focusing on the company, rather than on the shareholders.
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