According to the New York Times, when Yahoo CEO Jerry Yang and his team were told that Microsoft was walking away from its $47.5 billion offer to buy the company "high-fives were exchanged." Today, analysts expect Yahoo's value to plummet to $30 billion. Gimme an O! Gimme an O! Gimme a P! Gimme an S! — Yahoo employees, many of them suddenly poorer, told Kara Swisher they want Yang back on the sidelines where such cheerleading belongs. Yang's high-five display "shows a complete lack of connection to the balance of the company," one Yahoo exec told Swisher. Another told her:
Jerry could become chairman, Sue [Decker] could remain President and then someone who can really charge in and make drastic change could be CEO.
Swisher goes on with more horrified outtakes from Yahoo execs, but first — everybody say it with us, now — Up high! Down low! In space! In your face!
- "I am in shock."
- "I don't know if we won or we lost. I think we lost."
- "I don't love that it was Microsoft, but I think everyone thought $33 was a pretty good offer from a pretty good tech company."
- "Having to face my staff tomorrow will not be so much fun and I need some Prozac, since I don't know what I can say to them about how our leadership is going to get our company going again."
- "Where's the Jelly memo when you need it?"
- "I can't really talk to Jerry, since it is difficult to tell a founder tough things he probably needs to hear."