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	<title>BoomTown &#187; Eric Jackson</title>
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		  <title>All Things Digital</title>
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		<title>Kara Visits the Yahoo Annual Meeting!</title>
		<link>http://kara.allthingsd.com/20080804/kara-visits-the-yahoo-annual-meeting/</link>
		<comments>http://kara.allthingsd.com/20080804/kara-visits-the-yahoo-annual-meeting/#comments</comments>
		<pubDate>Mon, 04 Aug 2008 07:01:03 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Internet]]></category>
		<category><![CDATA[Kara Swisher]]></category>
		<category><![CDATA[Microsoft]]></category>
		<category><![CDATA[Yahoo]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[video]]></category>
		<category><![CDATA[annual meeting]]></category>
		<category><![CDATA[board]]></category>
		<category><![CDATA[Eric Jackson]]></category>
		<category><![CDATA[Flip]]></category>
		<category><![CDATA[Jerry Yang]]></category>
		<category><![CDATA[San Jose]]></category>

		<guid isPermaLink="false">http://kara.allthingsd.com/?p=2488</guid>
		<description><![CDATA[BoomTown was blogging so manically from the Yahoo annual meeting, which took place in San Jose on Friday, I plum forgot to load up the video I did there.

No video was allowed inside the meeting or anywhere near it, by the way. So rather than getting beaten senseless by the squads of purple-clad Yahoo minions of CEO Jerry Yang, I decided to pocket my Flip camera for part of it.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2008/08/yahoo-logo.jpg"><img src="http://kara.allthingsd.com/files/2008/08/yahoo-logo.jpg" alt="" title="yahoo-logo" width="249" height="195" class="alignright size-medium wp-image-2489" /></a></p>
<p>BoomTown was blogging so manically from the Yahoo annual meeting, which took place in San Jose on Friday, I plum forgot to load up the video I did there.</p>
<p>No video was allowed inside the meeting or anywhere near it, by the way. So rather than getting beaten senseless by the squads of purple-clad Yahoo (YHOO) minions of CEO Jerry Yang, I decided to pocket my Flip camera for part of it.</p>
<p>But, afterwards, I did a very interesting interview with shareholder activist Eric Jackson, who has been beating on Yahoo for awhile.</p>
<p>To no avail, for now. As it turned out, Yang and the Yahoo board sailed out of the meeting pretty much intact, despite all the hubbub of this past year, from the company&#8217;s weakened performance to the full-frontal bid attack by Microsoft (MSFT).</p>
<p>Here is the video (and apologies for saying &#8220;board&#8221; meeting in several places in the video, rather than &#8220;annual&#8221; meeting):</p>
<div class="video-wsj"><embed src="http://s.wsj.net/media/swf/microPlayer.swf" bgcolor="#FFFFFF" flashVars="videoGUID={1704079451}&playerid=4001&plyMediaEnabled=1&configURL=http://wsj.vo.llnwd.net/o28/players/&autoStart=false" base="http://s.wsj.net/media/swf/" name="microflashPlayer" width="320" height="240" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed><br />[ See post to watch video ]</div>
<p>Also, here are my liveblogging posts from the meeting, in time order:</p>
<p><a href="http://kara.allthingsd.com/20080801/boomtown-liveblogging-from-yahoo-annual-meeting-in-san-jose/">BoomTown Liveblogging From Yahoo Annual Meeting in San Jose!</a></p>
<p><a href="http://kara.allthingsd.com/20080801/liveblogging-from-yahoo-annual-meeting-empty-chairs-and-no-power/">Liveblogging From Yahoo Annual Meeting: Empty Chairs and No Power</a></p>
<p><a href="http://kara.allthingsd.com/20080801/liveblogging-from-yahoo-annual-meeting-tim-koogle-returns/">Liveblogging From Yahoo Annual Meeting: Tim Koogle Returns!</a></p>
<p><a href="http://kara.allthingsd.com/20080801/liveblogging-yahoo-annual-meeting-bostock-defends-microsoft-dealmaking-or-lack-thereof/">Liveblogging From Yahoo Annual Meeting: Bostock Defends Microsoft Dealmaking (Or Lack Thereof)</a></p>
<p><a href="http://kara.allthingsd.com/20080801/liveblogging-from-yahoos-annual-meeting-yangtastic/">Liveblogging From Yahoo Annual Meeting: Yangtastic!</a></p>
<p><a href="http://kara.allthingsd.com/20080801/liveblogging-from-yahoo-annual-meeting-shareholder-qa/">Liveblogging From Yahoo Annual Meeting: Shareholder Q&#038;A!</a></p>
<p><a href="http://kara.allthingsd.com/20080801/yahoo-shareholder-vote-old-board-stays-put/">Yahoo Shareholder Vote: Old Board Stays Put (While AOL Makes Another Boneheaded Move!)</a></p>
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		<title>Liveblogging From Yahoo Annual Meeting: Shareholder Q&amp;A!</title>
		<link>http://kara.allthingsd.com/20080801/liveblogging-from-yahoo-annual-meeting-shareholder-qa/</link>
		<comments>http://kara.allthingsd.com/20080801/liveblogging-from-yahoo-annual-meeting-shareholder-qa/#comments</comments>
		<pubDate>Fri, 01 Aug 2008 18:42:21 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[Internet]]></category>
		<category><![CDATA[Kara Swisher]]></category>
		<category><![CDATA[Microsoft]]></category>
		<category><![CDATA[Yahoo]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[annual meeting]]></category>
		<category><![CDATA[board]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[director]]></category>
		<category><![CDATA[DoubleClick]]></category>
		<category><![CDATA[Eric Jackson]]></category>
		<category><![CDATA[human rights]]></category>
		<category><![CDATA[Japan]]></category>
		<category><![CDATA[Jerry Yang]]></category>
		<category><![CDATA[Q&A]]></category>
		<category><![CDATA[Roy Bostock]]></category>
		<category><![CDATA[San Jose]]></category>
		<category><![CDATA[shareholder]]></category>
		<category><![CDATA[Sue Decker]]></category>

		<guid isPermaLink="false">http://kara.allthingsd.com/?p=2475</guid>
		<description><![CDATA[OK, now we're cooking with gas at Yahoo's annual meeting in San Jose, as various shareholders--mostly small ones--come to the microphones and give Yahoo a piece of their mind.

First up, longtime Yahoo activist shareholder Eric Jackson asked Yahoo Chairman Roy Bostock to step down, noted that Yahoo had overplayed its hand on the Microsoft bid, wondered about Yahoo President Sue Decker's time problems (too many outside boards) and questioned the worth of Yahoo's deal to sell an asset in Japan.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2008/08/question-mark.jpg"><img src="http://kara.allthingsd.com/files/2008/08/question-mark-218x300.jpg" alt="" title="question-mark" width="218" height="300" class="alignright size-medium wp-image-2481" /></a></p>
<p>OK, now we&#8217;re cooking with gas at Yahoo&#8217;s annual meeting in San Jose, as various shareholders&#8211;mostly small ones&#8211;come to the microphones to give Yahoo a piece of their mind.</p>
<p>The room has filled up more, about one-third to one-half full, with the top Yahoo (YHOO) leadership arrayed at a table up front like an Italian wedding.</p>
<p>First up, longtime Yahoo activist shareholder Eric Jackson asked Yahoo Chairman Roy Bostock to step down, noted that Yahoo had overplayed its hand with the Microsoft bid, wondered about Yahoo President Sue Decker&#8217;s time problems (too many outside boards) and questioned the worth of Yahoo&#8217;s deal to sell an asset in Japan.</p>
<p>Yahoo, of course, did not agree with Jackson! <em>At all!</em></p>
<p>&#8220;No,&#8221; said Bostock about stepping down, also noting that he was woefully underpaid for his board service, given all the activity over the last year related to Microsoft (MSFT).</p>
<p><span id="more-2475"></span></p>
<p>Next up, a shareholder asked about Yahoo&#8217;s poor performance compared to Google (GOOG).</p>
<p>Yang&#8217;s answer: We&#8217;re trying!</p>
<p>Next, a shareholder supported Yang, noting that Yang did co-found the company. But then he kind of suggested Yang perhaps leave the company for a &#8220;cathartic&#8221; time.</p>
<p>The same shareholder also compared Bostock&#8217;s defense of Yahoo&#8217;s behavior with &#8220;a girlfriend who is trying to convince the world that she initiated the breakup.&#8221;</p>
<p>That made Yang smile. </p>
<p>Later, Bostock added: &#8220;I would not compare Yahoo&#8217;s relationship to Microsoft to a romantic one.&#8221;</p>
<p>The next question was related to China and Yahoo&#8217;s thorny history there. Yang had addressed the issue earlier and added that the company was working hard to improve its efforts related to human rights.</p>
<p>While one former employee and shareholder called Yahoo &#8220;rude&#8221; not to entertain more questions from investors, another shareholder called Microsoft &#8220;a green-tentacled monster,&#8221; I think, which provoked laughs and clapping.</p>
<p>A question was then asked about advertising and competing with Google-owned DoubleClick. Decker noted that Yahoo&#8217;s Web-based approach is better.</p>
<p>One shareholder noted the lack of women on the board (there is one), and a shareholder justifiably complained that only one-third of the directors did not show up and also not enough of the board owns stock, such as Ron Burkle (who was apparently in Europe at another commitment.)</p>
<p>Perhaps of everything that went on at the annual meeting, which was mostly nothing, perhaps that was the most salient point of all.</p>
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		<title>First, Let's Toss Out All the Yahoo Board Members</title>
		<link>http://kara.allthingsd.com/20080218/first-lets-toss-out-all-the-yahoo-board-members/</link>
		<comments>http://kara.allthingsd.com/20080218/first-lets-toss-out-all-the-yahoo-board-members/#comments</comments>
		<pubDate>Mon, 18 Feb 2008 11:21:39 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Internet]]></category>
		<category><![CDATA[Kara Swisher]]></category>
		<category><![CDATA[Microsoft]]></category>
		<category><![CDATA[Yahoo]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[activist]]></category>
		<category><![CDATA[Eric Jackson]]></category>
		<category><![CDATA[takeover]]></category>

		<guid isPermaLink="false">http://kara.allthingsd.com/20080218/first-lets-toss-out-all-the-yahoo-board-members/</guid>
		<description><![CDATA[While Microsoft (MSFT) still has not moved against the board of Yahoo (YHOO), which is one of the many options open to it, some of its more vocal advocates have.
Eric Jackson&#8211;who made a very correct nuisance of himself at Yahoo&#8217;s annual meeting back in June of 2007 by loudly complaining of management&#8217;s weak performance directly [...]]]></description>
			<content:encoded><![CDATA[<p>While Microsoft (MSFT) still has not moved against the board of Yahoo (YHOO), which is one of the many options open to it, some of its more vocal advocates have.</p>
<p>Eric Jackson&#8211;who made a very correct nuisance of himself at Yahoo&#8217;s annual meeting back in June of 2007 by loudly complaining of management&#8217;s weak performance directly to then-CEO Terry Semel and other execs, forming a grassroots shareholder group called &#8220;Yahoo! Plan B&#8221; and also posting his thoughts on a Web site called &#8220;Breakout Performance&#8221;&#8211;is back.</p>
<p>In an <a href="http://breakoutperformance.blogspot.com/2008/02/yahoo-shareholders-in-favor-of-selling.html">open letter on his site</a>, Jackson takes aim again, this time at the Yahoo board with an online petition. &#8220;We believe that the Yahoo! board does not have the moral authority to represent our views as shareholders in discussions with Microsoft or any other company who wants to buy Yahoo!,&#8221; it reads. &#8220;Therefore, we will band together as a group and agree to sell our Yahoo! shares to the highest bidder. There is currently an offer on the table from Microsoft for $29 (at Microsoft&#8217;s current valuation). We view that as a floor bid. We will tender our shares to Microsoft or any other bidder (e.g., AT&#038;T, NBC, News Corp., Comcast, etc.) who makes a better offer than this.&#8221;</p>
<p>Asking shareholders to sign an informal pledge, it went on: &#8220;If we remain isolated, disenfranchised shareholders (whether we are an individual owning one share or we are a large institutional investor owning thousands of shares), we are powerless to control how Yahoo!&#8217;s board acts in getting the best possible outcome for us. If we band together, we can control our own destiny.&#8221;</p>
<p>Jackson, who now runs an activist investment firm in Florida called Ironfire Capital, appears to have just over 2.1 million shares pledged (Jackson has 96 shares himself, which makes this all the more delicious).</p>
<p>Here&#8217;s a video he did and, below it, he appears in a <a href="http://kara.allthingsd.com/20070613/i-went-to-yahoos-annual-meeting-and-all-i-got-were-these-purple-balloons/">post and video I did from that Yahoo annual meeting</a> called &#8220;I Went to the Yahoo&#8217;s Annual Meeting and All I Got Were These Purple Balloons,&#8221; in which he appears (and is quite prescient, in fact, as is BoomTown at the end with our Yahoo-as-deflated-balloon prediction):</p>
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<div class="video-wsj"><embed src="http://s.wsj.net/media/swf/microPlayer.swf" bgcolor="#FFFFFF" flashVars="videoGUID={987486287}&playerid=4001&plyMediaEnabled=1&configURL=http://wsj.vo.llnwd.net/o28/players/&autoStart=false" base="http://s.wsj.net/media/swf/" name="microflashPlayer" width="320" height="240" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed><br />[ See post to watch video ]</div>
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		<title>Motorola Gets Yahooed</title>
		<link>http://kara.allthingsd.com/20070712/motorola-gets-yahooed/</link>
		<comments>http://kara.allthingsd.com/20070712/motorola-gets-yahooed/#comments</comments>
		<pubDate>Thu, 12 Jul 2007 08:43:04 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Internet]]></category>
		<category><![CDATA[Kara Swisher]]></category>
		<category><![CDATA[Yahoo]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[mobile]]></category>
		<category><![CDATA[cell]]></category>
		<category><![CDATA[Ed Zander]]></category>
		<category><![CDATA[Eric Jackson]]></category>
		<category><![CDATA[iPhone]]></category>
		<category><![CDATA[Motorola]]></category>
		<category><![CDATA[Terry Semel]]></category>

		<guid isPermaLink="false">http://kara.allthingsd.com/20070712/motorola-gets-yahooed/</guid>
		<description><![CDATA[Eric Jackson, the effectively noisy shareholder advocate who prodded Terry Semel to leave Yahoo as CEO at its annual board meeting just days before he did, is now targeting Motorola and its CEO Ed Zander.
While Jackson runs a small operation, he uses his Web site, YouTube videos, posting to wikis and other online tools in [...]]]></description>
			<content:encoded><![CDATA[<p>Eric Jackson, the effectively noisy shareholder advocate who prodded Terry Semel to leave Yahoo as CEO at its annual board meeting just days before he did, is now targeting Motorola and its CEO Ed Zander.</p>
<p>While Jackson runs a small operation, he uses his <a href="http://breakoutperformance.blogspot.com/2007/07/hello-moto-plan-b-for-motorola.html">Web site</a>, YouTube videos, posting to wikis and other online tools in his effort to build a small group of disgruntled investors and offer a &#8220;Plan B.&#8221;</p>
<p>Zander, who appeared at our <a href="http://allthingsd.com/d/gallery/d3/"><strong>D3</strong></a> conference, might want to be careful. Jackson craftily asked Semel at the Yahoo meeting&#8211;see <a href="http://kara.allthingsd.com/20070613/i-went-to-yahoos-annual-meeting-and-all-i-got-were-these-purple-balloons/">my post on it here</a> and the video from it below&#8211;whether he had the &#8220;fire in the belly&#8221; to continue as CEO at the troubled Internet giant. At the meeting, Semel answered with a hearty yes, but was gone soon after. </p>
<p>As of yesterday, Jackson now has a lot more fodder in his fight with the telecommunications-equipment maker, when Motorola warned of weak shipments of cellphones and said its mobile-devices division would lose money for the year.</p>
<p>With the stock in the tank, management turmoil, a lackluster product line and rumors of a Zander exit, let us not forget the recent explosive launch of the iPhone to cause even more <em>agita</em> at the company.</p>
<p>But let Jackson take it from here with his recent video on Motorola, followed by mine from the Yahoo board meeting in June:</p>
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