It was a short week but a lively one. I kept myself busy blogging about everything I could find that was relevant to the SoCal economy. In case you missed anything, here are some highlights from this week's DeBord Report. Enjoy!
Carol Bartz is out as CEO of Yahoo, reportedly fired by phone call yesterday. Bartz was brought in to turn the Web pioneer around and redefine its identity after founder Jerry Yang and his board failed to sell company to Microsoft in 2008 and former Warner Bros. executive Terry Semel failed to turn Yahoo into a kind of full-service online media machine.
Back in 2008, when the Microsoft deal fell through, I wrote about how Yahoo, the key company of the Web 1.0 era, hooking up with Bill Gates and all that was definitely not of the Web 1.0 world was the only hope we had of beating back Google and its total dominance of Web 2.0. But that was before Facebook achieved critical mass.
Now Yahoo looks even more desperate and confused — even as observers acknowledge its still-massive Web presence. The company's identity crisis — which Bartz, a Silicon Valley veteran, tried to cure by returning Yahoo to its core as a tech firm — took root during the Semel years and culminated in 2006 when an executive wrote a scathing memo now referred to as the "Peanut Butter Manifesto."
Henry Blodget says that Yahoo, now that's it's axed CEO Carol Bartz and pretty much admitted that it's for sale (again), should buy Business Insider and hire "us" as CEO. We're going to assume that by "us", Henry means "Henry." He you have it: "We offer to allow Yahoo to buy Business Insider Inc., for $150 million. And we offer to allow Yahoo to then appoint us acting CEO of the company…Once we have been appointed acting CEO of Yahoo, we will implement our plan." (Business Insider)
"How to bring the jobs back." The New York Times goes big, big, BIG on the Opinion page, serving up four provocative solutions to the unemployment crisis. (NYT)
According to Jay Carney, Obama's $300 billion jobs package "would be "paid for," not financed through deficit spending." (LAT)
The battle over the confirmation of Richard Cordray to lead the Consumer Financial Protection Bureau has begun. Who's Richard Cordray? He's so not Elizabeth Warren. (LAT)