Yahoo! Spends $79M on Financial Advice
March 2, 2009
Throwing money at a problem regarding money… a waste of money?
Yahoo! revealed in an SEC filing that it paid financial advisers millions of dollars during Microsoft’s unsolicited buyout offer. The company spent $79 million on outside advisers hired to advise it on the Microsoft takeover, the pursuit of “other strategic alternatives, including the Google agreement,” the proxy fight and litigation costs.
Microsoft made several offers to Yahoo! last year, including one that valued the search company at $33 per share. Yahoo! rejected all of the offers including one for just the search division. According to RedOrbit, five separate stockholder lawsuits were filed against the company last year connected to the Microsoft bid.
The money spent on the Google agreement was also a bust. While the two companies claimed to have drawn up a deal designed to meet the satisfaction of antitrust regulators, both U.S. and EU antitrust bodies had issues with the agreement and the two companies walked away from the deal just hours after the Department of Justice decided to challenge the deal.
RedOrbit reports that Yahoo!’s main financial advisers were Goldman Sachs and Lehman Bros., whose investment banking business is now part of Barclays Capital Plc.
Yahoo!’s new CEO Carol Bartz shook things up at the company when she unveiled a new management structure late last week.
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By Jane McEntegart, published on March 2, 2009 at 9:40 AM
Gimme a Break!
February 6, 2009
State employee: I get $93,803 for no work
You might actually feel sorry for the guy after reading the entire article, but I certainly don’t. I’m guessing that he will have some work to do come Monday now that everyone knows how much he gets paid to do nothing all day. Should have kept his mouth shut, I guess.
From the ‘B’ to the ‘S’
December 29, 2008
Autoworkers Union Keeps $6 Million Golf Course for Members at $33 Million Lakeside Retreat. But hey, who’s paying attention anyway? It’s only money.
Even as the industry struggles with massive losses, the UAW brass continue to own and operate a $33 million lakeside retreat in Michigan, complete with a $6.4 million designer golf course. And it’s costing them millions each year.
Congress Did What!?
December 19, 2008
You can file this one under WTF or OMG or Hell Has Frozen Over because the end must be near.
| A crumbling economy, more than 2 million constituents who have lost their jobs this year, and congressional demands of CEOs to work for free did not convince lawmakers to freeze their own pay. Instead, they will get a $4,700 pay increase, amounting to an additional $2.5 million that taxpayers will spend on congressional salaries. |
Time to Contact FEMA
December 18, 2008
Since the State of Wisconsin won’t answer my call, who will? I’m thinking FEMA, because to me this IS an emergency that the State government cannot manage. Call it selfish, but hey–I’m without my unemployment “benefit” for reasons unknown as of yet. I contacted my previous employer to ask if there were any issues on their end re: my unemployment and they said there were none. If I am without unemployment “benefits” due to some screw-up at DWD I will be very upset.
And another thing: why don’t we nix the extension of benefits and replace it with an increase for those who need the money to pay for their obligations (eg. daycare, mortgage, insurance) instead of those who just blow it on cigarrettes and beer? The benefit rate is just not enough.
I feel for the workers at Chrysler who have off for the next month, but if they start whining about getting only 80% of their pay during the next month I’m gonna flip out.
Still looking for new opportunities and to win the lotto, too.
Wisconsin Unemployment
December 16, 2008
Okay, so apparently there is a problem. Nevermind the fact that I can hardly pay my mortgage. I finally got through to unemployment today and then… AND THEN… I get disconnected! What the crap!? There is no reason that the phone number should be busy–I don’t care if unemployment is up 40%–I am one of the unemployed people who actually wants to get back to work. It’s not like I’m sitting on my butt doing nothing, believe me. Apparently the State if Wisconsin does not have the funds for unemployment and will need to seek federal assistance…. Who should be fired now? Way to manage the funds there, elected officials.
Sorry, just a little angry today.
IRS Increases Mileage Rate
June 27, 2008
The federal agency sped up its usual timetable and now will let mileage rates for business travel rise from 50.5 to 58.5 cents beginning next Tuesday.
I used to work for a company that was so penny-pinching cheap that they did not participate in any mileage increases and advised employees to claim the difference on their taxes. I don’t work there anymore.
If banks get a helping hand, why can’t we?
June 3, 2008
On more than one occasion have American banks been provided with $BILLION$ to help them overcome credit problems. When was the last time you received some sort of financial aid from the government to help offset your own credit problems? When was the last time you received a friendly boost because your employer was too cheap to give you a raise? Um, how about… NEVER?
Oh, wait… the economic stimulus check! Right. I don’t know about you, but I used my stimulus check to help pay for gas and existing medical bills that just seem to pile up during flu season each year. Purchasing a new television or patio set weren’t necessarily top priorities at the time. And I might add that the economic stimulus check really doesn’t stretch too far–unless of course you are the Duggar Family.
While I greatly appreciate the stimulus check, it just isn’t enough. And encouraging people to go out and and buy crap to help stimulate the economy sends the wrong message. Give us something we can work with, like make one of my mortgage payments or pay for my medical bills or give me a gas subsidy for crying out loud.
I’m in debt. You’re in debt. The government is in debt. We’re all in freaking debt. My goal is to get out of debt BEFORE buying a new television or patio set. How is that for a rhyme? Snoop would be so proud.
