Good News - The Shark Killers at Yahoo take a Financial Beating
Yahoo is getting their just desserts.
The financially troubled Internet company is laying off 10% of their workforce.
Their profits are heading into the basement.
"We have been disciplined about balancing investments with cost management all year, and have now set in motion initiatives to reduce costs and enhance productivity," said Yahoo co-founder and CEO Jerry Yang in a written statement.
"The steps we are taking this quarter should deliver both near-term benefits to operating cash flow, and substantially enhance the nimbleness and flexibility with which we compete over the long term," he added.
In a conference call after the results were announced, Yang said the company was working to reduce costs in other ways than just slashing jobs, including relocating offices and consolidating real estate. "We are identifying ways we can operate more efficiently," he said.
The Sea Shepherd Conservation Society has a suggestion for Yahoo. Divest yourself of Alibaba, the largest shark finning company in the world. Yahoo owns 40% of this destructive and merciless corporation.
That in addition to Yahoo's slavish kow-towing to the Chinese government makes this company one of the most unethical corporations in the world.
"I hope they go under," said Captain Paul Watson. "Yahoo is contributing to the extinction of world shark populations - they are arrogantly wiping the seas clean of sharks. I look at the graph of their losses and I smile - it serves them right."
The Sea Shepherd Conservation Society has been boycotting Yahoo ever since they bought into the Chinese online shark-finning corporation of Alibaba.
Yahoo reported a net income of $54 million, or 4 cents per share, a decline of 51% from a year ago.
Yahoo has been pursuing an ad-sharing deal with top rival Google.
The partnership has been put on hold, however, as the Justice Department investigates whether the deal would create an online advertising monopoly and violate antitrust laws.
The Sea Shepherd Conservation Society is hoping that Google will refrain from partnering with a company that is so involved with the destruction of the world's sharks.
Yahoo has refused to respond to Sea Shepherd's concerns about their involvement with the slaughter of sharks. Only one Yahoo representative responded and that was to say there were too many sharks in the oceans anyway.
With more than 90% of the world's sharks eradicated and with many species on the brink of extinction, Yahoo has become an international eco-terrorist organization.
Instead of buying Yahoo, Google should let the company die and pick up the market after their demise.
The world does not need Yahoo, the Chinese ass-kissing shark slaughtering ecologically ignorant company that it is.