I’m not a businessperson, so this particular statement about Yahoo turning down Microsoft’s offer confuses me:
“They’ve prioritized employees over shareholders in the hopes that someday they can create more than $8 billion of value, even if they have no track record of doing so,” she said.
I dunno; I’m not a major shareholder in any company, so maybe this is why I don’t get it. From my perspective, Yahoo putting their employees first is a good thing.
Maybe it’s because five years ago, the big ol’ company that owned the publisher I work for was trying to sell us to another, larger publisher. For several months, we were all waiting for the sale to go through and the pink slips to start going out – there’s no need for two customer service departments, two billing departments, two IT teams, etc. The other publisher already had those in their New York offices. Maybe some Boston people would be given the option to move, but very few of us would have taken it. When that deal fell through, it was a sigh of relief.
I think I have a pretty good idea of the relief plenty of Yahoo employees are feeling right now.
Reading further into the article, I understand that this “walking away” on Microsoft’s part might not be the end, that the sale might still happen anyway. I’m also sure that Yahoo has other reasons for refusing the deal than just its employees.
Still, if the people who work for the company are important factors in their decision, my hat is off to Yahoo.