All the Kings Horses and All the Kings Men!

In one of the most drawn-out goodbyes in recent corporate history Yahoo Chief
Executive Mr. Jerry Yang lastly gave in to his censors as he made official to a
group media his decision to step down. Months after dashing an impending over
$44 billion takeover by Microsoft, the 40-year-old confirmed that he would be
resigning his post. The decision comes as a painful personal blow to Mr. Yang who
founded Yahoo with Stanford friend David Filo in 1994 and has regularly stated
his commitment to the site and also lays rest to an end a long period of
speculation over Yang's future at the top of the company, although the timing of
the announcement came as a surprise. In an announcement Yahoo chairman Mr.
Roy Bostock said he was "deeply grateful" to Mr. Jerry Yang, but would be
starting a search for a new leader who could "take the company to the next
level". "Jerry and the board have had an ongoing dialogue about succession
timing, and we all agree that now is the right time to make the transition to a
new CEO," Bostock said. It had been widely predicted that Yang's tenure was
drawing to a close,
particularly
following severe
criticism over his
handling of a
$44bn takeover bid
from Microsoft
earlier this year.
"Having set Yahoo
on a new, more
open path, the
time is right for me
to transition the
CEO role and our
global talent to a
new leader, I will
continue to focus
on global strategy
and to do everything I can to help Yahoo realise its full potential." Mr. Jerry Yang
Commented on his departure.

Read More At:

http://www.nytimes.com/2008/11/18/technology/companies/18yahoo.html?th&emc=th

The G-20 Summit.

Thank God, we got a break from the same old news of elections and blasts and
the daily now covers something new. The change in global economy and global
politics is on the cards and everywhere you get to see 3500-word resolution on
measures and principles to address the global economic crisis off course with no
shortage in headlines. Still wondering what we are talking about... Tada!!!!!! This
weekend’s financial summit.

For the first time, instead of the G-7/G-8 club of rich nations, a global crisis
summit included leaders of fast-rising nations such as China, Brazil and India.
With host President Bush and the leaders of Europe and Japan, the Group of 20
agreed on principles for future crisis-fighting efforts and vowed ambitious
financial system reforms. “Kya Karein Kya Na Karein Ye Kaisi Mushkil Hai, Koi to
batade Iska Hal O Mere Bhai?” was the agenda and conceding that aggressive

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efforts taken so far have been insufficient, the leaders agreed to take whatever
further actions are necessary to stabilize the financial system. The leaders were
perhaps most specific in calling for developing countries to enjoy a greater say in
the International Monetary Fund and to be admitted quickly to another global
body called the Financial Stability Forum, which was created after the emerging
markets crises of the 1990s.

Talking about the promises--Best before 12 months from the date of

manufacturing...... They also swore to refrain from raising new trade barriers —
but only for the next 12 months. And by the end of March they promised to
rewrite accounting standards and some regulations and gather for another family
photo by the end of April.

In Shankar Mahadevan’s Breathless style, the record, the G20 – made up of

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia,
Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the
UK and the US, plus the European Union as a member in its own right – agreed to
use fiscal measures to stimulate demand; help emerging markets gain access to
finance; expand the Financial Stability Forum to including emerging economies;
reform the International Monetary Fund and the World Bank; ensure that the IMF,
World Bank and other development banks have sufficient funds; to not raise trade
barriers over the next 12 months; work on restarting the Doha round of global
trade talks by the end of 2008; establish supervisory colleges for major
international financial institutions; review how compensation packages affect risk-
taking; ensure credit rating agencies meet high global standards and provide
greater disclosure; improve accounting standards; and that there be better
disclosure on complex financial products.

Naturally, a meeting that spanned just about six hours could hardly be expected
to produce miracles, or even much in concrete terms. And if you are smart
enough then you can understand that the real business will happen after the new
US administration (Obama factor) takes office.

Read More At:

http://www.nytimes.com/2008/11/16/business/worldbusiness/16summit.html?_r=1&th&emc=th&oref
=slogin

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Panasonic to Buy Sanyo in a Deal Worth Over $9 Bn
Technology colossal Panasonic declared that it will acquire Sanyo, creating
Japan’s largest consumer-electronics manufacturer. For Sanyo’s principal
investors the prospect of a payday seems alluring. Since coughing up a whooping
$2.6 billion for Sanyo back in January 2006, Goldman Sachs, Daiwa Securities
SMBC and Sumitomo Mitsui Banking have pushed the company to reform its
sprawling businesses. Those three haven’t completed a spin at Sanyo but
Panasonic will end up paying them nearly a $9 billion. So what’s in it for
Panasonic? The simple answer is growth. Panasonic’s president, Fumio Ohtsubo,
has been on the hunt for deals ever since he took over in mid-2006. Integrating
Sanyo wouldn’t be too hard for
Panasonic since the two have
overlapping businesses and are
located near each other along
an industrial corridor in Osaka.
Buying Sanyo would give
Panasonic expertise in two key
areas: batteries and solar
panels. Sanyo is the largest
global supplier of rechargeable
batteries for laptops, cameras,
mobile phones and other
portable gizmos. The two
would also have a leg-up on
the competition in lithium-ion batteries for gas-electric hybrid cars (Panasonic has
paired up with Toyota and Sanyo with Volkswagen)--and possibly future electric-
powered cars when they eventually hit the road en masse.

Read More At: http://news.bbc.co.uk/1/hi/business/7714994.stm

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