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Does Yahoo Have an Apple-ish Turnaround Ahead of It?

In response to you question: No, they do not have an "Apple-ish" turn around in their future as long as Yang is around. Notably IBM, Apple and HP all turned around only when disfunctional management was replaced.

Microsoft: No Intention to Overbid Yahoo

Microsoft should not go hostile. They should say that if Yahoo has not indicated an interest on talking realistically by next Friday, MSFT will not go hostile, will not raise their price, but rather, will walk away and exploit other opportunities. If they say it and mean it, Yang will be put in a corner where he has to talk.

Why is Everyone Racing to Buy Facebook?

I think Microsoft made the investment on a strategic value basis: FOr relatively little money, they go to "win one" from google, box google out of the Facebook relationship, and get some hot property cachet. From an intrinsic value standpoint the price makes little sense.