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How Marissa Mayer Failed to Turn the Company Around – Variety. Marissa Mayer has sat behind the wheel at Yahoo for nearly four years.
She has had the luxury of running one of the world’s most recognized internet brands, with a surging digital ad market, a cooperative board, a truckload of cash and 1 billion monthly visitors. And still she has failed to turn things around at the beleaguered company.“Befuddlement is the best way I could characterize Marissa Mayer’s hire,” says Brian Wieser, senior analyst at Pivotal Research Group, of the onetime Google wunderkind’s arrival at Yahoo in July 2. Sure, you had someone who understood consumer use of digital media — but no core experience with Yahoo’s business, which was generating ad revenue from Madison Avenue.”Mayer, who will be 4. May 3. 0, now faces the prospect of the firm she was hired to save being sold off, and the possibility of being booted from her job. She has been largely protected from Wall Street’s wrath by the surge in value from Yahoo’s Alibaba Group holdings (although she had nothing to do with those gains). But as Yahoo’s finances have continued to deteriorate, it has become apparent that Mayer has wasted time and money with a lack of cohesive vision and a mercurial micromanagement style that paralyzed growth opportunities, according to former employees and industry execs. As one shareholder wonders: “What the f— has Marissa Mayer been doing for the last three- plus years?”When Yahoo hired Mayer, the company was in a position to become a real player in social media, and to blossom into a much bigger digital- media property that could leverage increased revenue from its huge audience.
Instead, Mayer spent $1 billion on blogging startup Tumblr, which three years later hasn’t produced any meaningful revenue, while unilaterally abandoning an array of content initiatives. In turn, she has doubled down on search, which Yahoo is fueling with pricey paid- traffic deals with two of its biggest rivals, Microsoft and Google. But prior to Mayer deciding it was critical to Yahoo’s future, web search hadn’t been a strength since the company’s earliest days. Let’s not be hyperbolic: The use case was literally accidental searches on the homepage,” says a former Yahoo exec. Mayer’s interest in beefing up search, according to this source, is because “she has a real chip on her shoulder about getting thrown out of search” at Google. In 2. 01. 0, she was demoted by then- CEO Eric Schmidt from her position as Google VP of search products and user experience to a job overseeing local content, maps, and location services.)“The Yahoo way is, ‘We’ll throw 1.
Brought in to turn Yahoo around, Marissa Mayer instead faces a looming sale that follows a string of strategic misfires. Pitch your music to producers, music supervisors and specific projects on the sites listed in this article.
But you need a sniper rifle in this business.”Rich Tullo, analyst. Now Yahoo investors waiting for Mayer’s turnaround miracle to materialize have thrown up their hands.
Activist/investor Starboard Value — exasperated at the lack of progress on Mayer’s watch — threatened to oust the CEO and the current board by nominating its own slate of directors. Last month, Yahoo averted a potentially ugly proxy fight with the fund by appointing Starboard chief Jeffrey Smith and three Starboard- backed directors to the board. The shakeup increases the likelihood of a Yahoo sale, given Starboard’s position on the issue. For now, Mayer’s job at the company appears safe, but all bets are off if the new board finds a buyer.
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In the event she’s fired within a year of an acquisition, Mayer stands to receive a severance package worth about $5. Mayer, through a rep, declined a request for an interview. At this point, the task of trying to revive Yahoo will almost certainly fall to an acquirer or a new management team.
Earlier this year, the company’s board bowed to pressure to put itself on the block, and Yahoo is reviewing bids from parties including Verizon and several private- equity firms, while billionaire Warren Buffett says he’s willing to back a play for the company by his friend Dan Gilbert, founder of Quicken Loans. Verizon, which snapped up AOL for $4. Yahoo and AOL. A Wall Street Journal report last week said Verizon and other bidders planned to offer between $2 billion and $3 billion for Yahoo — far less than the $8 billion or more the company has been expecting. So Mayer’s legacy at Yahoo may be as the CEO who drove it into a fire sale. You’d think Verizon would be interested in it just for their traffic, and fire everybody in a classic strategic- acquirer move to take cost synergies out,” says Brett Harriss, media and entertainment analyst at Gabelli & Co. No one can accuse Mayer of standing still.
Under her leadership, Yahoo has bought some 5. Eric Jackson of Spring. Owl Asset Management. Many of those deals are smaller acqui- hires — buys of companies for their staff, not the products they sell — in the mobile space. Analysts criticize the approach as a scattershot strategy that has failed to move the needle. The Yahoo way is, ‘We’ll throw 1.
Rich Tullo, analyst with Albert Fried & Co. But you need a sniper rifle in this business.”Mayer has touted growth of Yahoo’s so- called “Mavens” business, comprising mobile, video, native, and social ads. That segment represented $3. Over the past three and a half years, we took a company that, despite its rich history, faced legacy revenue declines, and we forged a Yahoo that is stronger and more modern,” Mayer said on the company’s first- quarter earnings call in April. But so far, Mavens has not stopped the bleeding at Yahoo. The company is projecting 2. Mobile was something Yahoo had to go after,” says Scott Kessler, equity analyst at S& P Global Market Intelligence.
The problem is, after all the M& A, people asked, ‘Are these actions really going to enhance the company’s growth profile?’ What became apparent was that they didn’t.”Both search and display ad revenue for Yahoo will drop by double- digit percentages this year — even as heavyweights like Google and Facebook continue to punch up sales in the growing sectors, according to research firm e. Marketer. Tumblr has been a particular disappointment for Yahoo. It’s a hipster- porn platform, essentially,” says Tullo.
Why isn’t it Pinterest or Instagram?” Tumblr will contribute just $2. Yahoo’s bottom line on $8. Sun. Trust. Reflecting Mayer’s poor track record of deal- making, in the fourth quarter of 2. Yahoo recorded goodwill impairment charges of $1.
That included a $2. Tumblr. Yahoo said in an SEC filing that it is “reasonably possible” it could write down all of the remaining goodwill associated with Tumblr.
One acquisition that does seem to have helped is Yahoo’s $6. Bright. Roll in November 2. Yet that contributed only “incremental revenue” for full- year 2. Yahoo’s need to enhance its ad- tech capabilities was already long overdue by then. On the media front, Mayer has simply been out of her depth, insiders say.
She came to Yahoo boasting Silicon Valley chops — she was Google’s first female engineer — but she has never had a real understanding of the media business, they say.“She believes she can figure it out on her own,” says a former top Yahoo exec. Her attitude is, ‘I watch TV shows, so I know TV shows.’” Mayer hired Katie Couric — in a deal reportedly worth up to $1. TV news personality, without a sense of where and how Couric’s brand would appeal to Yahoo’s user base, according to this source.
English 0. 1: Hector's Arrival. Bridget and Annie share a flat in London.
Bridget is a fitness enthusiast and also a tough nut when it comes to romance. She receives a letter from her old penfriend in Argentina called Hector saying that he plans to visit – on that very day! There is a knock on the door but it is not Hector it is Nick, the boy next door who fancies Bridget and will not be happy to hear that he has new competition. When Hector does arrive, at first he doesn’t look very attractive. He is dressed very strangely and acts very strangely. The girls leave him with Nick who persuades him to tell Annie that her dog is in the oven, and to ride on Bridget’s exercise bike knowing that she hates anyone riding her bike. When the girls return they are suitably annoyed and decide that Hector must go.
That is, until he emerges from the shower! Watch Zulu Dawn Mojoboxoffice. When they see him without his old- fashioned clothes, they realise that he is very good looking.
Nick discovers that Hector comes from ‘one of the richest families in Argentina’, but Hector is determined to keep it a secret. Now, both Nick and the girls are very keen for him to stay! Narrative. BRIDGET [reading email message]‘Gigi!! Did you get my message? Please call me. Love, John.
P. S: Did you get the flowers?’BRIDGETIs he stupid?!(Writes email)‘I told you last night, it’s finished. Sorry. B.(And don’t call me GIGI.)’John [on phone]But please don’t leave me. BRIDGETDon’t cry. Oh, goodbye. Oh and happy birthday! Aah, men! ANNIECome on Charley, come on. Post, Bridget. Charley and I have the post, haven’t we Charley.
BRIDGETGive me the post, Charley. Dog growls]Give me the post, Charley.
ANNIEDrop it, Charley. Oh, good boy! Oh, telephone bill, gas bill, electricity bill. Oh. Ah, what’s this? Mmm, a parcel for you, Bridget. BRIDGETOh, good. What is it?
Oh, it’s from mother. ANNIEOh, ‘Bridget darling, this arrived for you and I made you this. Love Mummy.’Oh, ho- ho, oh very you, Bridget! BRIDGETMother! Ooh, this is from Argentina. ANNIEArgentina. Who from? What does it say? BRIDGET[Erm], it says ‘Hello, do you remember me?’No.‘Seven years ago we was pen pals.’‘We was’ – we were pen pals.
Oh yeah, now I remember, it’s Hector! ANNIEWho’s Hector?
BRIDGETHe was my pen pal seven years ago. ANNIEOh. BRIDGET‘I speak English good now.’ I speak English good.
I speak English well now – ‘and I am coming to England.’ANNIEOh, Latin Americans! BRIDGET‘I would like to sleep with you. Do you have a bed for me?’Oh, he wants to stay here! Oh]. Ah, ha, ha. ANNIEBut [erm] what about the rules? ANNIEOoh, a Latin American here, ooh, like Ricky Martin! Tall, handsome, rich! So [erm] when is he coming?
BRIDGETOh [erm] let me see. It says ‘November 5th.’ANNIEOh, November 5th. But that’s …BRIDGET… Today!
Sound of knocking on door. BRIDGET and ANNIEAaaah!!!
BRIDGETOh, oh it’s you Nick! NICKHi, babes! ANNIEHello Nick. How are you? NICKGr- eat. Nice muscles. Here’s your milk.
BRIDGETOur milk. You mean our milk you borrowed three weeks ago. ANNIEOh, thanks Nick. NICK[Speaking in a mock Italian accent]I forget nothing! ANNIEWould you like a drink, Nick? Would you like a drink, Nick? Telephone rings. NICKUhh. ANNIEI said, would you like a drink, Nick?
NICKOh! Sorry. No thanks. ANNIEOh, erm, Bridget’s friend is coming. NICKOh yeah. ANNIEAha. From Argentina. NICKWow! From Argentina! What’s she like?
ANNIEShe is a he! NICKHuh? ANNIENot a girl, a boy. NICKOh. Tough guy, ay! Why don’t I show you how to do it properly! BRIDGETNick, I’ve told you before, nobody uses my bike, nobody, is that clear? NICKWhy not? BRIDGETWhy not?!!
If you touch my bike again, you are out – O- U- T, out. Clear?! NICKWhat? Sound of door slamming. Sound of knocking on door. BRIDGETI said …HECTORHello. Hunter X Hunter Episode 51 English Sub.
ANNIEHello. HECTORI am called Argentina. I am from Hector. ANNIEYou mean ‘I am called Hector.’HECTORYou are called Hector?
ANNIEOh, no, no, no, I am called Annie. HECTORI am called Annie. BRIDGETNo! She means ‘I am called Hector, I am from Argentina.’HECTORYou are from Argentina! BRIDGETOh, come in!
ANNIE [sending email]‘Hi Nadia. Bridget’s pen pal arrived this morning.’HECTORHello. ANNIE [sending email]‘He is, mmm, strange.’NICKHi babes! Snapdragon Full Movie Part 1.
ANNIEHello Nick![sending email] ‘Oh and Nick from next door is so funny! He brought our milk back from three weeks ago.’NICKI forget nothing! BRIDGET [sending email]‘Chrissy! Nick is so stupid, he touched my bike. Men!’BRIDGETNobody uses my bike, nobody, is that clear? NICKWhy not! BRIDGETWhy not?!! BRIDGET [sending email]‘Also, Hector is here from Argentina.
His English is not very good.’HECTORI am called Argentina. I am from Hector.
HECTORThese are my cars. BRIDGETYou play with cars?! HECTORYes, you play, no? I play with cars. BRIDGETHe plays with cars! HECTORI read. I love the library. BRIDGETFascinating!
ANNIEWe go to the library too, don’t we, Bridget. BRIDGETYes, it’s great! HECTORGood. I live here. BRIDGETYou live in a museum, full of old things?
HECTOROld things. Yes, I have lots of old things. I live in a museum. OK, I live in a museum. ANNIEWell, thank you Hector and now we’ll show you the flat. BRIDGETThis is the bedroom.
HECTORThank you. Who- hey!! Where do you sleep? BRIDGET[Erm] no you don’t understand, we only have one bedroom. HECTOROne? I have twenty.
ANNIETwenty? BRIDGETYes, he lives in a museum, with twenty bedrooms. ANNIEOh! Ha- ha- ha, very funny, ha, twenty bedrooms!
Laughter. BRIDGETWell, you can sleep here. HECTOROh, thank you. ANNIEOh, no, no, no, Hector! It’s a bed. HECTORA bed? Ah, oh …BRIDGETHere’s a cushion.
HECTOROh, thank you. ANNIEOh, this of course is the TV.
BRIDGETBut just relax, I must go to the bathroom. Psst! Annie! Bathroom!! Now!! BRIDGETOh my goodness, what are we going to do? He plays with toy cars! ANNIEHe is not a sexy Argentinian.
Mm, but he is sweet. BRIDGETAnd he is polite.
BRIDGET and ANNIEBut those clothes! ANNIEOh, he is so old- fashioned. BRIDGETMm, he must go.
HECTORRoom service. NICKHello. Who are you? HECTOROh, you who are quick, good.
NICKAy? HECTORMy luggage is downstairs. NICKWhat? HECTORBring it up, please. NICKWhat are you doing? HECTORI pulled, you come, you are the butler. NICKThe butler?! I am Nick, I live next door.
HECTOROh, I, … I am Hector. NICKOh, Hector, from Argentina.
HECTORYes, from Argentina! NICKWhere are the girls? HECTORThe girls? NICKYeah, Bridget and Annie. HECTOROh they live here. NICKYeah, I know. Where’s Bridget? Does she know you are here? HECTORBridget, she gave me this.
NICKOh. ANNIEHello Nick! Oh, this is Hector from Argentina.
NICKYeah, I know. BRIDGETIsn’t he wonderful! NICKWonderful. BRIDGETAre you hungry? HECTORUh? BRIDGETWe’ll buy your lunch. What would you like to eat? Fish and chips? HECTOROh, fish and ships!![Laughs]ANNIE[Erm] Nick, Hector, make friends. BRIDGETNick, teach Hector some English.
NICKYeah, OK, I’ll teach Hector some English. NICK [sending email]‘Yo Dan!
How’s it going?! The chicks in the apartment opposite have a visitor, Hector from Argentina.’HECTOROh, you who are quick, good. NICK [sending email]‘He can’t speak English. Man! He thought I was the butler!’HECTORI pulled, you come. You are the butler. NICKHa, the butler.[sending email] ‘And even worse, I think he fancies Bridget.’HECTORShe gave me this.
NICK [sending email]‘The girls have gone out, so I will teach him to speak English!’NICKI’ll teach Hector some English. NICK [sending email]‘See what I mean?
Stay cool. N. P. S. Big decision. Today I joined an acting agency. Brad Pitt is history!’NICKOK, this is the oven. HECTORThis is the ov- en. NICKAnnie’s dog sleeps in the oven. HECTORAnnie’s dog sleeps in the oven. NICKSo you say “Annie!