To me, the most important thing is that management sent a very clear signal to the Street that they are refocusing and making an effort to return their focus to improving the return on capital. They understand their problems and they are putting in place a system to make those problems disappear. |
We also believe ongoing speculation about a potential merger partner can provide price support at current levels. |
We believe this compelling valuation offsets very real concerns about management's ability to develop a path out of the quagmire. |
We view the recent Yahoo! sell-off as overdone. We believe anyone investing in Yahoo! on the belief that the Internet represents a good advertising medium is missing the story. |