Secret Yang Plan to Save Yahoo

Chief exec's hopes to deny Microsoft banking on skunkwork projects
By Rob Quinn,  Newser Staff
Posted Feb 12, 2008 6:46 AM CST
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)
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(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.