Investor Rips Yahoo, Sells 10M Shares

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Ouch. You know this guy had to be pretty pissed to sell 10M shares at a loss just to get away from Yahoo.

Billionaire investor and Oklahoma native T. Boone Pickens has sold all his shares of Yahoo over the way the Internet company's management handled sales talks with Microsoft. Pickens told the San Francisco Chronicle he sold all 10 million of his Yahoo shares at a loss and calls Yahoo management "pathetic."
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With such name, no wonder he have a bone to pick with Yahoo...

 
Yahoo management doesn't care, they got all the popup windows, ajax banners and everything else to play with.
ppl that only care about technology are dangerous for a business
 
Yeah, I really don't get the Yahoo board, they really fucked this up badly. There are a lot of average people that got screwed because some rich arrogant jerks just couldn't stand loosing to Microsoft rather than doing right by their shareholders.

This is why I hate a lot of business leaders these days. They are pathetic. They have little regard for those that depended on their leadership in order to make a living and have something for retirement.
 
heatlesssun said:
Yeah, I really don't get the Yahoo board, they really fucked this up badly. There are a lot of average people that got screwed because some rich arrogant jerks just couldn't stand loosing to Microsoft rather than doing right by their shareholders.

This is why I hate a lot of business leaders these days. They are pathetic. They have little regard for those that depended on their leadership in order to make a living and have something for retirement.
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The same can be said against the shareholders. Company's layoff hard working people that are just trying to make a living and have retirement so the company can seem more profitable for the shareholders.
 
bpmurrGT said:
He needed that money for his energy plan! Now what is he going to do?:rolleyes:
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I read this article today. Pickens sold his stock at a loss. Really he just did this to protest the yahoo management.
 
I don't think he is running for President. Just trying to tell people to get involved with their political leaders and tell them they give a crap about long term energy independence.

 
SpeedRunner said:
I read this article today. Pickens sold his stock at a loss. Really he just did this to protest the yahoo management.
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Capital losses can be used to offset capital gains past, present, and future. Selling a loser can thus be a good way to get cash for a better opportunity.

Sending a message is a nice bonus.
 
He is too busy making his huge wind farm to care about being president.
 
OK, I seriously don't understand this. Do all these people WANT monopolies? With the way everyone is talking about Yahoo after this deal, you'd think so. I'm frankly quite happy that Yahoo kept itself independent and giving the other two a little competition! Or maybe I just don't know anything about "big business" :rolleyes:
 
E7130 said:
The same can be said against the shareholders. Company's layoff hard working people that are just trying to make a living and have retirement so the company can seem more profitable for the shareholders.
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Look. Hate it or not, that is a legitimate business practice. When you have owners (shareholders) who are saying to you that you need to find ways to cut costs, then the first and most expensive portion of any business is the labor pool via payroll. That's life, deal with it. I mean, what is the point of owning a business? It isn't a charity, is it? No, it's to make a product and make money.
 
djBon2112 said:
OK, I seriously don't understand this. Do all these people WANT monopolies? With the way everyone is talking about Yahoo after this deal, you'd think so. I'm frankly quite happy that Yahoo kept itself independent and giving the other two a little competition! Or maybe I just don't know anything about "big business" :rolleyes:
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The whole point of being in business is to become a monopoly. To be #1 and the only one in your market.
 
People lose money on the market everyday, makes me want to say: "cry me a river, bitch." With all that money you should have paid for a better analyst report (or listened to current Buy, Hold, Sell comments from G&S).
 
There is a lot more to this guy than renewable energy and Yahoo.

I have met the guy in person at a function here in Austin and heard many inteviews on local Sports talk radio.

He is also heavily involved with making Ok State into a sports power...he basically gave them 300+ million dollars to build sports stuff.


I personally like the guy, he is down to earth and not full of greed.
 
This is the same cat who has an energy plan to ween us of foreign oil.

Step one, massive shift to natural gas... it just so happens he owns most of the natural gas in this whole country (hey he got to a billionaire some how!)

Step two... like he fucking cares, after he's an even larger billionaire from selling all his natural gas (due to skyrocketing prices from increased demand) any Utopian vision he might be pitching is thrown in the shitter because there's no money to be made there.
 
djBon2112 said:
OK, I seriously don't understand this. Do all these people WANT monopolies? With the way everyone is talking about Yahoo after this deal, you'd think so. I'm frankly quite happy that Yahoo kept itself independent and giving the other two a little competition! Or maybe I just don't know anything about "big business" :rolleyes:
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First off, how do you see MS buying Yahoo creating a monopoly? In actuality it would have allowed for someone to really compete with Google, which would be a very good thing. I've got nothing against Google, and I really like their products, but they need a strong competitor.
 
It boggles the mind to imagine someone so rich they can throw away tens of millions of dollars just to make a point.The question is,just who bought all those shares?
 
Hurdler said:
First off, how do you see MS buying Yahoo creating a monopoly? In actuality it would have allowed for someone to really compete with Google, which would be a very good thing. I've got nothing against Google, and I really like their products, but they need a strong competitor.
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THAT would of created a duopoly and in some ways that is worse then a straight out monopoly
 
I suppose the better question would be; Was he reimbursed for his loss? If so, by whom?
 
michael.pa2 said:
It boggles the mind to imagine someone so rich they can throw away tens of millions of dollars just to make a point.The question is,just who bought all those shares?
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Several people are saying he threw away his money, but are you so sure? Maybe he's freeing it up for a better investment, or protecting himself against further loss if Yahoo's stock price goes further down.
 
Mati71 said:
People lose money on the market everyday, makes me want to say: "cry me a river, bitch." With all that money you should have paid for a better analyst report (or listened to current Buy, Hold, Sell comments from G&S).
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I think most would have thought that Yahoo would have accepted the MS deal... I mean thats like someone selling you his mansion and lamborghini for $100.... it's almost stupid not to take it.

But I guess you are right, he should have known that Yahoo has a retard of a CEO.
 
sfsuphysics said:
This is the same cat who has an energy plan to ween us of foreign oil.

Step one, massive shift to natural gas... it just so happens he owns most of the natural gas in this whole country (hey he got to a billionaire some how!)

Step two... like he fucking cares, after he's an even larger billionaire from selling all his natural gas (due to skyrocketing prices from increased demand) any Utopian vision he might be pitching is thrown in the shitter because there's no money to be made there.
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He use to own oil years ago also I believe. Back then he tried to warn people that gas was going to be over $100 if we didn't change something.

And actually right now he is working on building the world's largest wind farm in Texas. He has already got the land, purchased all the wind turbines. So that isn't just some pipe dream, that actually is a project that he is putting in place already.

I don't know him personally, or know much about him to really say much about his character. However it would sound to me like he is trying to get off of oil and to other sources of energy. Hell, i don't care if he does get us to use stuff that he owns. As long as it is from the USA and gives work to those in the USA and keeps the money in the USA, it helps the economy more that us giving money to other countries.
 
Ockie said:
I think most would have thought that Yahoo would have accepted the MS deal... I mean thats like someone selling you his mansion and lamborghini for $100.... it's almost stupid not to take it.

But I guess you are right, he should have known that Yahoo has a retard of a CEO.
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I'll go forward and say that it's not almost stupid...it IS stupid. An offer such as that one won't come twice, It's one of those lifetime opportunities and this guy, obviously, isn't exactly keen on the CEO's decision. I most certainly wouldn't be either, if I was a shareholder.
 
Exavior said:
He use to own oil years ago also I believe. Back then he tried to warn people that gas was going to be over $100 if we didn't change something.

And actually right now he is working on building the world's largest wind farm in Texas. He has already got the land, purchased all the wind turbines. So that isn't just some pipe dream, that actually is a project that he is putting in place already.

I don't know him personally, or know much about him to really say much about his character. However it would sound to me like he is trying to get off of oil and to other sources of energy. Hell, i don't care if he does get us to use stuff that he owns. As long as it is from the USA and gives work to those in the USA and keeps the money in the USA, it helps the economy more that us giving money to other countries.
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Well said. This windfarm is going to look awesome.

I guess we'll see how many PETA folks freaks out about some wind turbines.:p
 
eeyrjmr said:
THAT would of created a duopoly and in some ways that is worse then a straight out monopoly
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Could you give an example of a duopoly that's bad? I'm honestly asking, because all I can think of are AMD/Intel and Nvidia/ATI. Neither seem that bad.
 
If he can afford to toss away money good for him. I agree with him though that Yahoo's top execs are total douche bags.
 
Hurdler said:
Could you give an example of a duopoly that's bad? I'm honestly asking, because all I can think of are AMD/Intel and Nvidia/ATI. Neither seem that bad.
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Yes, fucking Bell and Rogers, who control our Internet in Canada, and both provide equally shitty service, as well as Bell now trying to destroy all of the competing small ISPs that do better than they do.
 
Cyrilix said:
Yes, fucking Bell and Rogers, who control our Internet in Canada, and both provide equally shitty service, as well as Bell now trying to destroy all of the competing small ISPs that do better than they do.
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Fair enough! I figured there were some great examples, but I couldn't think of them.
 
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