Tag Archives: shareholders

Yahoo starts selling half of its Alibaba stake as promised, sends $3.65 billion to giddy shareholders

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Defunct Yahoo billboard

Anyone who's been holding on to Yahoo shares through thick and thin is about to reap the rewards of that patience. As the company promised, it's starting to sell back half its stake in Alibaba, closing the first stage of the deal with the equivalent of $7.6 billion in pure revenue. The struggling search and content firm 'only' pockets a net $4.3 billion after taxes and other overhead costs, but it won't even see that much in its bank account: it's purposefully sending $3.65 billion of that money to shareholders, both to inspire new confidence and (unofficially) to head off activist investors like Dan Loeb that might otherwise want a coup d'état. If share owners plan on using the second stage of the sale to fund a vacation to Maui, though, they'll need to wait. Yahoo's deal prevents it from selling half of its remaining 23 percent stake unless Alibaba files for an initial public offering, and there's no guarantee that investors will see another dime of the proceeds.

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Yahoo starts selling half of its Alibaba stake as promised, sends $3.65 billion to giddy shareholders originally appeared on Engadget on Wed, 19 Sep 2012 10:26:00 EDT. Please see our terms for use of feeds.

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Best Buy founder ever closer to finalizing company buyout bid

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Best Buy founder ever closer to finalizing company buyout bidBest Buy founder Richard Schulze may have stepped down as chairman of the board, but he's certainly not out. His plan to buy the turbulent company has reached the next step -- an agreement which pre-empts the formal offer. Schulze now has access to all the private numbers he'll need to put together an investor group within the 60-day timeframe. And, if this round is unsuccessful, it'll be next January before another bid can go to the Board of Directors, followed by direct shareholder offers if the second attempt fails. Given that Schulze owns 20 percent of Best Buy, he gets two seats-worth of voting power as long as he sticks to the agreed process. So, with a new CEO taking the reigns in September and the acquisition machinery in top gear, is there fresh hope for the big box retailer?

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Best Buy founder ever closer to finalizing company buyout bid originally appeared on Engadget on Mon, 27 Aug 2012 13:01:00 EDT. Please see our terms for use of feeds.

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Facebook CEO Mark Zuckerberg says mobile apps the top focus, we say it’s about time

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Mister Mark Zuckerberg

Facebook has been making a lot of promises during a tour to drum up interest in its ever-nearing IPO, but the one gadget-heads have been wanting to hear the most, a commitment to its mobile apps, has been elusive -- until now. Everyone's favorite hooded CEO, Mark Zuckerberg, is telling investors in his home 'burg of the San Francisco Bay that mobile is front and center in his company's plans. We're hoping that means new app features, although Zuck is likely referring to money-making as well: shareholders are jittery knowing that Facebook makes most of its money on web ads that it's not running on smartphones and tablets. Paid titles in App Center will go a long way towards scratching that itch, mind you. As for us, we'll just be happy if Facebook takes less than a year and a half to produce a major tablet app.

Facebook CEO Mark Zuckerberg says mobile apps the top focus, we say it's about time originally appeared on Engadget on Sat, 12 May 2012 03:37:00 EDT. Please see our terms for use of feeds.

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AT&T stockholders vote down net neutrality proposal

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AT&T stockholders vote down net neutrality

AT&T stockholders took to the ballot box today at their annual meeting and voted not only to reelect the entire board of directors, but also on a number of measures concerning how the company should conduct business. Chief amongst them was a provision that would have required the carrier to operate its network according to the tenets of net neutrality. Unfortunately for you (unless you're an AT&T exec), the proposal was voted down by a pretty stunning margin. 94.1 percent of shareholders opposed, with only 5.9 casting their voice in favor of true network neutrality. For more info check out the PR after the break.

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AT&T stockholders vote down net neutrality proposal originally appeared on Engadget on Fri, 27 Apr 2012 16:28:00 EDT. Please see our terms for use of feeds.

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Kaz Hirai reveals ‘One Sony’ turnaround strategy, will cut 10,000 jobs

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Freshly minted Sony CEO Kaz Hirai has revealed his plan to turn around Sony's fortunes and as rumored, it includes significant cuts. Two days ago, the company revised its projections for the 2011 fiscal year to reflect a $6.4 billion loss. The One Sony plan includes reducing headcount by 10,000 in the 2012 financial year, a number that also reflects jobs leaving Sony as businesses are sold or otherwise reorganized, and will cost it 75 billion yen ($926 million) during 2012. Currently, the plan is to focus on digital imaging, gaming and mobile for growth, until those three make up 70 percent of its total sales in 2014. As far as its beleaguered HDTV business, it's going forward with the plans announced during CES to streamline the product line, reduce its costs, and return to profitability by 2014. Looking forward, there's slightly fuzzier promises to "develop and commercialize" OLED and Crystal LED technology. Beyond those the idea is to expand in emerging markets, as well as medical and 4K related technologies. There's more details in the press release after the break and presentation slides linked below, we'll let you know if there's any more information revealed on a conference call later on today.

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Kaz Hirai reveals 'One Sony' turnaround strategy, will cut 10,000 jobs originally appeared on Engadget on Thu, 12 Apr 2012 02:01:00 EDT. Please see our terms for use of feeds.

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Sony CEO Kaz Hirai to reveal new strategy on April 12th

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If you want to pick up some tips before appearing on The Apprentice, or perhaps you're just want to know how Sony plans to wriggle back from a predicted $2.7 billion loss this fiscal year (its fourth concurrent in the red) then cancel all your plans for April 12th. Sony Corp will be holding a briefing on that date to share its rescue strategy plan with the shareholders, and the world. In attendance, of course, will be the newly minted CEO Kazuo Hirai, who'll no doubt be taking the opportunity to assert his position for the first time. Details of the call are in the source, just resist the temptation to scream "You're Fired."

Sony CEO Kaz Hirai to reveal new strategy on April 12th originally appeared on Engadget on Thu, 05 Apr 2012 05:02:00 EDT. Please see our terms for use of feeds.

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