third point

In today's show, Google takes the wheel, Microsoft listens to your movements, and 'resumegate' fires up:

Yahoo's "resumegate" has claimed it's first victim -- but it's not the CEO. Yahoo board member Patti Hart said she plans to not seek re-election to Yahoo's board. She's tied up in the drama because she was in charge of the search to hire the chief executive and vet his resume. The scandal, which has been developing for nearly a week now, surrounds Yahoo CEO Scott Thompson and his bios that claimed he had a computer … Read more

We'd love to be the proverbial fly on the wall to monitor these discussions. Just a few minutes ago, Yahoo said its board of directors was forming a "special committee" to review the academic credentials of CEO Scott Thompson.

"The special committee and the entire board appreciate the urgency of the situation, and the special committee will therefore conduct the review in an independent, thorough, and expeditious manner," Yahoo said in a release. "The board intends to make the appropriate disclosures to shareholders promptly, upon completion of the review."

Last week, activist investor … Read more

In today's show, it's time to Hangout with the world, seek out new smartphones and take a ride on the Yahoo drama train:

Your Google+ Hangout video chat sessions can now broadcast live to the world. Google made it easy to share the live stream of a Hangout on your Google+ page, or embed it on another Web site. You can see how many people are watching, and once the live show is done it can be uploaded to YouTube.

Google has been working with some television shows to broadcast their Hangouts live. If you want to check it out, … Read more

The "Wizard of Omaha" isn't buying the official explanation Yahoo has offered about CEO Scott Thompson and the misrepresentation of his educational background on his resume.

Last week it was discovered that Thompson did not possess the degree in "computer science" that he had claimed. Yahoo said the error had been "inadvertent."

The disclosure stepped up the pressure from activist investor group Third Point to fire Thompson as it wages a proxy battle to gain seats on Yahoo's board. And on Monday, legendary investor and Berkshire Hathaway CEO Warren Buffett expressed sharp … Read more

Pull up a seat and get out the popcorn. High noon came and went with Yahoo refusing the demand by activist shareholder Dan Loeb and his investment company, Third Point, to fire CEO Scott Thompson.

Third Point has just responded with a demand that the company turn over books and records related to Thompson and the board's vetting process.

In a statement issued after Yahoo ignored the deadline, Third Point indicated it plans to scour Yahoo's internal records for evidence that it will no doubt use to press its escalating proxy fight for seats on the company's … Read more

The activist shareholder gunning for Yahoo's board is about to ratchet up the pressure.

Daniel Loeb, who heads the hedge fund Third Point, seized on the revelation this week that Yahoo's CEO had lied on his resume to demand that the board fire CEO Scott Thompson by noon EDT Monday.

And what happens if, at 12:01, Yahoo decides to maintain radio silence? For Third Point, it would signal the start of an escalating power struggle for control over a company in crisis.

"Isn't everyone a fan of the 1952 western 'High Noon?'" a source … Read more

Hedge fund Third Point upped its battle with Yahoo's board by asserting that Yahoo CEO Scott Thompson does not have the computer science degree claimed on his resume.

In a letter to Yahoo's board, Third Point CEO Daniel Loeb said that Thompson received a degree in accounting from Stonehill College, but not "accounting and computer science," as stated on the Yahoo company Web site. Third point said it inquired at Stonehill College and found that it did not offer computer science degrees when he graduated.

Third Point, which owns 5.8 percent of beleaguered Internet company … Read more

Embattled Yahoo reportedly has a new plan for keeping dissident shareholders at bay: pack its board with supporters ahead of an anticipated proxy fight with hedge fund Third Point.

AllThingsD reports that Yahoo leadership is beating the bushes for three more directors to fill the vacancies created in February when five of its 11 board members announced they wouldn't stand for re-election. Yahoo has already named two new directors -- former Rovi CEO and patent-litigation enthusiast Alfred Amoroso and former eBay exec Maynard Webb.

The struggling Web giant, however, is in a race against time. Last month, Third Point named an alternative slate of four candidates, … Read more

Third Point LLC, the hedge fund that owns 5.8 percent of Yahoo, is taking its case against the company's current strategy to the shareholders. Specifically, the fund is asking shareholders to vote in an alternate slate of directors in an attempt to oversee new CEO Scott Thompson as he struggles to turn the company around.

Yahoo snagged Thompson from eBay in January following last September's ouster of former CEO Carol Bartz. Co-founder Jerry Yang resigned shortly afterwards, while several board members announced that they would not seek re-election this year.

But those changes weren't enough to … Read more