Doddering General Electric and water-logged Carnival Cruises both outgrew Yahoo last year. GE did it despite selling "23 times as much stuff" as Yahoo last year, according to the Wall Street Journal's Dennis Berman. Despite this, Wall Street grants Yahoo a generous 37.43 price-to-earnings ratio. Berman thinks Yahoo's board should "strike as the iron is hot" and holds up the precipitous downfall of AOL — it's worth about half its 2005 $20 billion valuation — as an example of a path Yahoo should not follow. [WSJ]
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