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Secret Yang Plan to Save Yahoo

Posted Feb 12, 08 6:46 AM CST in Business,  Technology 

(Newser) – Yahoo chief exec Jerry Yang has secret plans that he hopes will dramatically boost the internet giant's share price, insiders tell Valleywag. Yahoo has turned down Microsoft's $31 per share offer, and while rumor has it that the company's board is holding out for $36, Yang is said to be against selling at any price until his plans to make Yahoo more "relevant" bear fruit.

Hundreds of Yahoo employees were reassigned to secretive projects four months ago. They're reported to be working on revamping the home page and network infrastructure, opening Yahoo up to third-party designers Facebook-style, and uniting Yahoo's many social networks. Analysts, pointing to troubles with Yahoo's Panama advertising platform, think Yang's plans to revive Yahoo could prove too optimistic.

Source Valleywag

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Yahoo CEO Jerry Yang gives a keynote address at the Consumer Electronics Show (CES) in Las Vegas, Monday, Jan. 7, 2008. Yahoo has turned down Microsoft's bid for the compand, and Yang is said to be working...   (Associated Press)
Yahoo CEO Jerry Yang poses for a photo in front of the Yahoo booth at Consumer Electronics Show in Las Vegas, Jan. 7, 2008. (AP Photo/Paul Sakuma)   (Associated Press)
Yahoo has rebuffed Microsoft's $44.6 billion bid, and insiders say chief exec and co-founder Jerry Yang is reluctant to make any kind of deal until his plans to make Yahoo more relevant have paid off.   (Getty Images (by Event) Individuals)
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