Yahoo held its long anticipated board meeting last Friday.

Carl Icahn decided not to go… Time Warner blocked the board appointment of Jon Miller (former AOL CEO) because it breached a non-compete agreement… and board chairman Ray Bostock reiterated the board’s confidence in current Yahoo CEO, Jerry Yang.

And none of that is likely to appease Yahoo’s shareholders, who are probably fed up with Yahoo’s apparent failure to compete with Google, its refusal in May to sell to Microsoft (the merger negotiations costing Yahoo investors nearly $20 billion), and its lackluster share price performance (the stock is trading at around $20, far below the $33 per share offered by Microsoft).

Sources: Peter Kafka, “Time Warner (TWX) Killed Jon Miller/Yahoo (YHOO) Board Deal”, Silicon Alley Insider, August 1, 2008, Miguel Helft, “Yahoo Is Still Searching for, Well, Yahoo”, The New York Times, August 3, 2008

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• Google’s Quarterly Revenue 18 Percent Above Last Year
• Microsoft and Yahoo Back On Again?

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