with story from the New York Times
Steve Balmer and Roy Bostock, rumored to be meeting (photo Business Insider)
The New York Times reported that Steve Ballmer, CEO of Microsoft, and Roy J. Bostock, Yahoo’s chairman met secretly last week in New York.
Microsoft tried to buy Yahoo to bolster its Internet search engine business last year.
The plan was scuttled by then Yahoo CEO Jerry Yang who is out the door and replaced by new CEO Carol Bartz. Bartz has admitted meeting with Ballmer.
Yang was plainly stubborn and holding out for more. Considering the stock market crash since when both Microsoft and Yahoo have lots billions in valuation, Yang is clearly the looser. Yahoo peaked at $30 and is now in the low teens, $13.
Microsoft which was about $30 per share at the time has dropped to about $20. Tough times are consolidation times in business.
I has lunch one day with Ballmer at the launch of Windows NT in Toronto. He is not a man to listen to “no” from anyone. He virtually lectured the table on why we weren’t moving our clients to Windows accounting.
He was right. He usually is and he never quits.
People worry about Microsoft after Bill Gates. I don’t because Bill was tough but Steve Ballmer is tougher.
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