Yahoo! CEO attacks low morale
Yahoo! (YHOO)'s relatively new CEO Carol Bartz is tired of all the downbeat thinking among her troops. She is upset enough about the state of affairs that she sent around a memo to her team.
In the memo, obtained by AllThingsD, Bartz writes "So get out of the sugar low – we have work to do. Stop staring at our navels, stop arguing with each other. Stop debate, debate, debate, and let's focus on the competition."
It seems that Yahoo!'s rank-and-file don't think much of the company's search deal with Microsoft (MSFT) and the portal company's future, now that display advertising growth is a thing of the past, at least for the time being.
Bartz faces an uphill battle. One of her board members, Carl Icahn, sold 13 million YHOO shares owned by his fund. In most circles that would not be viewed as an endorsement of the CEO's strategy. Yahoo's shares are down 10 percent over the last three months, while the NASDAQ is up by about the same percentage.
Bartz has a problem as she attempts to improve morale. Almost everyone inside and outside the company thinks she is doing a poor job.
Douglas A McIntyre is an editor at 24/7 Wall St.