New Yahoo CEO Scott Thompson is kicking off his tenure by announcing a plan to lay off fourteen percent of the workforce, amounting to a total of 2,000 job losses. This comes on top of several rounds of layoffs in recent years.
Meanwhile, hedge fund manager and Yahoo shareholder gone rogue Daniel Loeb is stepping up his campaign against Yahoo's board and management by launching his Value Yahoo website. The goal of the site is to lobby other Yahoo shareholders to back Loeb and his proposed slate of new board members in the looming proxy battle that he's launched for control of the company. Loeb is overwhelmingly convincing in pressing the argument that Yahoo's managers have done a poor job over the past five years (the facts more or less speak for themselves) but having purused the site extensively it's awfully thin on laying out what the alternative vision of the company's future looks like.
TODAY IN SLATE
The Ebola Story
How our minds build narratives out of disaster.
The Budget Disaster That Completely Sabotaged the WHO’s Response to Ebola
PowerPoint Is the Worst, and Now It’s the Latest Way to Hack Into Your Computer
The Shooting Tragedies That Forged Canada’s Gun Politics
A Highly Unscientific Ranking of Crazy-Old German Beers
Welcome to 13th Grade!
Some high schools are offering a fifth year. That’s a great idea.
The Actual World
“Mount Thoreau” and the naming of things in the wilderness.