Wednesday, January 30, 2008

From the Mealy Mouthed Newspeak Department

Information Week informs us this day that Yahoo! ( I freakin' hate that name-don't you? A 'yahoo' in the vernacular is a redneck moron of no great wit.)...where was I? Oh yes. The aforementioned yahoo is going to get rid of 1,000 employees by what Jerry Yang, chief yahoo, calls a 'realignment' of jobs.

I dunno. I do not pretend to know much about this, but this "realignment" used to be called getting fired, getting the axe, the bum's rush, the old heave ho, and sometimes my way or the highway. I've heard it called downsizing, rightsizing, and even reengineering, but it's the same old crap.

Some poor bastard who ain't gonna get a golden parachute, corporate America style, is going to have to figure out how to make the car payments and feed the kids out of his realignment.

And what is the source of this 'realignment' as Chairman Yang calls it?

Simply that Yahoo! did not make quite as much money as they did last year.

If you thought they were bleeding to death, you thought wrong. Here's the tape.

The company said net income for the quarter ended Dec. 31 fell to $206 million, or 15 cents a share, from $269 million, or 19 cents a share, for the same period a year ago. Contributing to the drop were stock-based compensation and other expenses. Operating income for the quarter plunged 38% to $191 million from $308 million a year ago.

How about that "stock based compensation" they're talking about? Wouldja believe stock options given to highly placed executive types siphoned off a few bucks here and there? Killing the goose that laid the golden egg, anyone?

For more info on yahoo, see Business Week's article.

Photo credit to the fine folks at BW. One of my old profs at Rutgers was an editor there back in the day. Rod Craib? Remember him?


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