Space Ramblings

Carl Icahn’s War on Yahoo CEO Jerry Yang

From Carl Icahn on down, the campaign against Jerry Yang for resisting a Microsoft takeover has reached hysterical proportions with Yang, a pretty decent guy being accused of looking out for himself by refusing Microsoft’s earlier and later offers. The reality is if Jerry Yang was as greedy and stupid as his critics, particularly Icahn, he would have simply cashed in on the 40 dollars a share, left Yahoo behind and watched Microsoft destroy it. Instead he chose to work to protect Yahoo and Yahoo employees and stockholders and the gratitude he’s gotten for that has been an outpouring of venom from people who just want to sell some stock for short term gains.

Take Two managed to silence the idiots screeching in outrage that it refused to sell out to EA with the mega release of GTA IV. There’s nothing like a major thunderbolt of a product that blows everything away to silence critics, but Yahoo doesn’t have a GTA VI like ace in its pocket. Instead it has a valuable and pretty decent company that has a future in the marketplace, if it isn’t sold to the Beast from Redmond, which will make it as worthless as it has all its internet properties. Microsoft wants a piece of the action. Carl Icahn is dreaming of some sort of Mowhoo beast that will devour the competition, mainly because he has no clue about how either company works.

The wave of mergers and acquisitions is part of the disaster that’s brought us to this point, senseless unions that do nothing but waste resources and cripple companies. Remember when AMD and ATI were competitive? What about AOL and Time Warner? These days such mega proposals often fall apart, such as Blockbuster and Circuit City and Take Two and EA. And that’s a good thing, because it preserves jobs, diversity in the marketplace and innovation. But the day traders and billionaire scrounger investors like Carl Icahn enjoy destroying worthwhile companies to feed their appetite for short term gains driving the very same sort of cluelessness that has left the marketplace so barren in the first place.

Carl Icahn destroyed TWA, a great American company that all but pioneered commercial passenger flight. He made money. TWA was destroyed.

Carl Icahn tried to shove Blockbuster and Circuit City together and it didn’t work. He runs the bio scam company ImClone which is about as dirty as a company can be. He tried to push his way into Take Two and Motorola and Time Warner and got kicked to the curb. Thankfully he failed to force Motorola to sell off its mobile business. Now Carl Icahn is out to destroy Yahoo.

In short Carl Icahn is everything that’s wrong with stockholder capitalism and the American economy in a nutshell. He doesn’t build anything, he buys his way in, loots and tears down. He’s Gordon Gecko and if he has his way, Yahoo will end up in the dumpster along with TWA, while Carl Icahn will have a few more billion in his wallet.

No thanks.

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