Yahoo introduced its new $100 million marketing and branding campaign in New York today with “It’s Y!ou” as the new motto, making use of the Internet giant’s famous exclamation point and aimed at its customers.

Sure, it’s clever and all, but All Things Digital has come up with a much better advertising idea focused on Yahoo CEO Carol Bartz, a sassy and ofttimes salty exec whose pugnacious utterances have become legend quickly.

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According to numerous sources, Yahoo has been shopping around Zimbra, the open-source email company it bought in late 2007 for $350 million.

Zimbra is only one of the many assets of Yahoo that are now on the block, including its personals business, its HotJobs online classified unit and more to come.

The effort to unload Zimbra is yet another sign that the company is trying to slim down its diverse portfolio, even as it strives to redefine itself this week with a new, pricey marketing campaign that seeks to position Yahoo primarily as a consumer company.

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Yahoo is set to unveil a major marketing campaign to reset advertiser and consumer perception of the long-troubled company during Advertising Week in New York, which starts a week from tomorrow.

According to numerous sources BoomTown has spoken to about the campaign, Yahoo is–at least with advertisers–going to focus on stressing the size and scale of the Internet giant. With consumers, the Internet giant will push the idea of being a key hub on the Web.

The details of the plan will be made public Tuesday, Sept. 22, at a press conference with senior Yahoo execs, including CEO Carol Bartz.

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BoomTown just got this interesting memo that Yahoo CMO Elisa Steele sent out to her staff immediately in the wake of the deal for Microsoft to take over Yahoo’s search technology business two weeks ago.

I render it unto you, dear readers, since it shows just how intent the top managers of Yahoo are, especially internally, in reassuring those concerned that Yahoo had not just gutted itself and how it would remain as innovative as ever.

Also amusing–for reasons I cannot understand since it is an internal memo–is the use of the code name for Yahoo, which is called Yale, after the famous university in New Haven, Conn.

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Things are as tight as a tick over at Yahoo and Microsoft about the deal the pair have been discussing over the last months–as execs shuttle back and forth and forth and back and their boards deliberate on what will surely be one of the most important decisions for either company for the near-term future in the digital space.

As various reports debate the terms of the deal, it is critically important to remember that, done badly or with too much haste, this massive and extremely complex deal is one with even greater potential to tank.

“It could be game-changing or it could be one the biggest bombs ever,” said one exec close to the situation. “So, obviously, everyone is treating this very delicately.”

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What’s next for AOL?

Reviving the “You’ve Got Mail!” motto?

Or: “The Future. Now Available.”–set to music from “The Jetsons”?

What about: “So easy to use, no wonder it’s #1!”

Or maybe, it should just use a nice loooooooong busy signal as its calling card again?

Well, it could happen, now that new CEO Tim Armstrong has fallen prey to the siren call of the AOL brand name, after years of seeing the company wander in the anything-but-the-AOL wilderness.

Thus, he’s decided to try to welcome the prodigal brand back home, even as he prepares to spin it off in November from Time Warner.

Uh-oh.

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If there’s an earnings call at Yahoo, you know BoomTown is going to liveblog it!

Will Yahoo CEO Carol Bartz say something naughty? (Nope!) What is new CFO Tim Morse like? (Nice!) Will they say anything about the talks with Microsoft about a search and online advertising partnership? (No!)

Oh, it might be a corker!

The earnings results for the second quarter certainly were not.

Here’s the conference call, updated as it happened.

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Oh, they’re still talking. Except when they’re not. And, then, they are.

Such has been the course of discussions Yahoo and Microsoft continue to be engaged in about a possible partnership deal around search and online advertising.

“It runs hot, then cold, then hot, then who knows,” said one person close to the situation.

It’s kind of like a digital version of the romantic travails of Lindsay Lohan and Samantha Ronson, minus the paparazzi and screaming matches in trendy clubs.

Here’s an update of the talks.

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BoomTown has had some good leaked internal memos from Yahoo, but I have never enjoyed one quite as much as this one from newly installed Yahoo PR head Eric Brown, who started today.

While it is clear Yahoo has had its troubles in understanding and offering social-networking products to its users, Brown certainly knows how to share.

Yahoo could use some of that DNA!

Here’s his introductory memo to his new troops.

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Last week, BoomTown posted a detailed piece on Yahoo’s plans for a massive rebranding and marketing push, which included the hiring of outside consultant Penny Baldwin, who was a former top exec at Young & Rubicam.

Yesterday, Baldwin became an official Yahoo exec, as SVP of global integrated marketing and brand management.

She has been described by many sources as much more colorful and bold in her style, advocating more aggressive ideas about reinvigorating the Yahoo brand.

“Well, Penny is definitely not Yahoo,” said one Yahoo source, joking about the company’s quainter, yodel-focused and purple-toned image. “Which is probably a good thing.”

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Where is Microsoft spending its $100 million in marketing for its new Bing search service?

Here’s a photo that was forwarded to me showing an advertisement on top of a taxi in Manhattan of a goodbye message from Bing, as well as NBC, to the late pop legend, Michael Jackson.

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In what many sources at the company said is a major push, Yahoo is working on a massive plan to overhaul its brand in order to repair a damaged public image and focus consumers on what defines Yahoo.

The effort is being spearheaded by newly installed Chief Marketing Officer Elisa Steele, who has hired well-known brand consulting firm Landor Associates, as well as an outside consultant named Penny Baldwin, who was a former top exec at brand and ad giant Young & Rubicam.

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There is no doubt that Microsoft is pulling out the stops with its launch of its renovated search service, now called Bing, with $100 million in marketing dollars.

But, besides lifting the software giant’s share of the search market in early surveys, has it also given Microsoft’s stock an added boost?

Yes, indeed, but only just over the last 30 days.

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Now what?

The party-all-night social-networking site that has been MySpace so far got a massive morning-after shock yesterday when 30 percent of its workforce was laid off.

And today, MySpace, which is still 1,000-strong, has to face the cold, harsh light of day in the aftermath of the restructuring and get busy quickly figuring out a way to reinvigorate a brand that has suffered after a stunning rocket of a start many years ago.

So, based on many sources I have spoken to over the last week, here’s a rundown of the next steps MySpace will likely be taking and who’ll be making them.

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Well, what else is Yahoo CEO Carol Bartz going to do, but talk smack?

Not at BoomTown–that was so two weeks ago!

About potential partner Microsoft, of course!

And, especially about its new Bing search engine.

And, most especially of all, since new stats from comScore yesterday showed that the new look and marketing push for Bing are showing promising initial signs.

Rut-roh!

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