Yahoo! Searching for a future

Yahoo!

Searching for a future

Nov 9th 2011, 12:14 by M.G. | SAN FRANCISCO

     

IF YAHOO! had its own personal profile on Facebook, its relationship status on the social network would read “It’s complicated”. Two months after booting out Carol Bartz, its chief executive, the internet giant is flirting with a number of investors and firms that would love to get their hands on some or all of its assets. At the same time, Yahoo! is still keeping the option open to go it alone. On November 8th the company struck an online-advertising alliance with Microsoft and AOL, another web firm, in its latest bid to bolster its fortunes.

As one of the web’s best-known brands is searching for a future, it offers a spectacle that involves huge war chests and equally inflated egos. Among the potential suitors(请愿者) are some of the world’s most prominent private-equity groups, including TPG（Texas Pacific Group） Capital, Providence Equity Partners and Silver Lake Partners. Google, Microsoft and other big tech companies are also said to be sniffing around(嗅探) the firm, as are other investors such as Andreessen Horowitz, an ambitious venture-capital outfit. Jack Ma, the effervescent boss of Alibaba, a prominent Chinese internet firm in which Yahoo! has a stake of roughly 40%, is also keen to buy his American partner.

It is hardly surprising that Yahoo! is attracting so much attention. Aside from its search business, the firm boasts other assets that make it a tempting target. Chief among them are its Asian holdings, which also include a 35% stake in Yahoo! Japan. In addition, the company has a large e-mail operation with some 300m users, as well as successful online services in areas such as sport and finance.

If Yahoo! now is in a state of limbo（迷失）, it is because Ms Bartz was unable to exploit these advantages and mint（赚取） enough money to please the firm’s long-suffering shareholders. She also failed to arrest the worrying slide in the company’s advertising business. According to eMarketer, the web giant is likely to lose its lead in the market for online display advertising in America. (Display ads are popular with advertisers looking to build their brands online.) The research firm reckons that Yahoo! will end up with just over 13% of the market this year, while Facebook’s share will leap to more than 16%, up from around 12% in 2010.

This explains why Yahoo! is so keen to find ways to boost its ad revenue. Under the terms of this week’s agreement with Microsoft and AOL, the three companies will be able to tout（兜售） each other’s unsold display ads. Yahoo! also recently splashed out $270m for Interclick, a company whose technology is used to target ads at certain sets of users. This is just one of many areas where Yahoo! has been outflanked（挫败） by rivals such as Google and Facebook.

At the same time as it has been striking these deals, Yahoo! has been inking non-disclosure agreements with potential investors. One deal it has reportedly been considering is to spin off（甩掉） its Asian stakes and return the cash to shareholders. Another envisages what is called “leveraged recapitalisation（资本重整）”. It involves raising capital by selling a stake to outsiders and using it to buy back and retire other shares. The new investors would end up owning a greater share of firm than they initially bought. They could well form a big ownership block with David Filo and Jerry Yang, Yahoo!’s co-founders, who between them own about a tenth of the firm’s equity. The advantage of such a deal would be that it probably does not require shareholder approval.

Predictably, speculation is rife that Mr Yang, who is still a board member, has been promoting a leveraged recapitalisation in order to retain influence at the company. The possibility has raised the hackles of at least one big shareholder: Third Point, a hedge fund（避险资金）. In a recent letter sent to Yahoo!’s board, it lambasted（痛斥） the idea, arguing that it would “entrench management and transfer effective control [of Yahoo!] without payment of a premium or even, it appears, a shareholder vote”. Third Point also called for Mr Yang’s resignation as a director of the company.

Yahoo!’s board, whose members were memorably dubbed “doofuses” by the departing Ms Bartz, has dismissed Third Point’s criticisms. It says that the strategic review process “is being properly managed for the benefit of all shareholders”. Given the potential conflicts of interest involved, both the board as a whole and Mr Yang in particular will need to tread carefully in the days ahead. They will also need to move reasonably fast to resolve the uncertainty dogging the firm. If Yahoo! is going to be carved up like a turkey at Thanksgiving, the sooner such a decision is taken the better.

My favorite movies(1)-secret window

This is a typical American style movie. I did not know the exact plot until the end and I can say that I was fooled before the end. There is no doubt that the cost of the movie is not high but still the movie leave an profound impression on me and other movie fans. I should say that it was because of the main character Johnny Depp,which aroused my interest to watch this movie.

From my point of view, I firmly believe he is the best actor in the world without any doubt. Every movie he performed was a new challenge to him and obviously every time, he accomplished his task with surprise for people. It's pretty much a given that in this day and age, any movie Johnny Depp is in no matter how bad it is, will inevitably be stolen by his performances and he pulls it off here yet again. "Secret Window" is a story based on real events happened to King many times before, thought not as far-fetched as it is here; and here it manages to take shape in a story of psychological damage and horror. Depp steals the movie with a good performance that is a variety of creepy, eccentricity, and shocking versatility as Mort Rainey this obviously troubled man seeking to adjust his own mind through his writing. As I have mentioned before, we may assume that the movie was an ordinary murder of love for the first thirty minutes and then as the movie progressed, John Shooter appeared and it seemed that he was the one who threatened the life of the main character and his ex-wife. But at last, we finally realized that Mr.Rainey had psychological problem and Shooter was his illusion. 

So except those people who have read the origin, the movie always leaves space for people to imagine and gradually arouses people’s attention by the intricate plot. At least, I was fully fascinated by the plot meanwhile I tried my best to figure out the whole story but the only thing I could do was to watch the movie until the end. I couldn't describe my feeling the moment I knew the result. It was beyond words. Again I want to mention my favourite movie star Johnny Depp, my description of his performing skills is he acts as if he is the real man in the movie. I have watched many of his movies , the character Rainey reversed his figure again. It was totally different feeling compared to his former characters pirate Jack or Edward scissorhands and his recent figures in Charlie and Chocolate Factory or public enemy. The figure he presented in Secret Window was classic and unique with the sense of Jonny Depp but someone who has his own soul and flesh. I believe to perform two characters in one film for an actor is one of the most difficult part. However, Depp made it and did a really great job. Though he might not achieve the best actor award in Oscar, I think there is no need for us to argue whether he is qualified or not because his movies and good repute have already proved that he is and will be a legend.

Best scene in secret window of self talk

Youth Goodwill Ambassador Interview

On September 26^th, I received an e-mail from Head of Secretariat of Copenhagen Goodwill Ambassador Corps. It’s a friendly reminder of the interview in the afternoon. I knew this will be a turning point during my stay in Denmark. The introduction meeting was held in International Center. It started at 5:30. The coordinators gave us a brief introduction to this program about the goals and functions of this programs. Later, we saw some videos and works from previous goodwill ambassadors. Personally, I was more attracted after the introduction to the program. Finally, we were divided into three groups to discuss on a case. The case was about how would you promote Denmark as a study destination supposed that you were a Youth Goodwill ambassador. Our group finally chosed China my home country as the promotion country since Denmark is a new study destination to Chinese students and there are huge markets for Danish universities. A German student and I were chosen as the representatives of our group to give a presentation on the promotion of Denmark in China. We cooperated quite well and focused on details of location, ways of promotion and potential cooperation and partnership.

The introduction meeting end at 8. I really enjoyed the experience during the meeting. Not only because I met a lot of new friends,  but also I had more to expect in my stay in Denmark. I had confidence that I will be admitted to this program. I am totally prepared to receive the challenge.

Time to say something

It's about two months since I arrived in Denmark. New environment, new schools, what I see is totally different from my home country. I felt it necessary to say something, to record my life in Denmark. I hope when I finished my education here after three years, I could have something left to taste and review.

If life is divided into two episodes, the first is "hesitance-free", while the second is"regret-free".

I have already made my first step, so what I need to do is to persist.