While Staci and Rafat enjoy the last few minutes of our New York mixer, the first reactions to the Yahoo reorganization are coming in.
WSJ: Kevin Delaney has an instant report of the webcast with no new quotes (it may be too soon; we’ll check again later in the evening), but notes the relevance of the Peanut Butter Manifesto, as you might expect, since the Journal broke that story last month.
NYT: Miguel Helft quotes survivor Terry Semel, “Our new structure will increase accountability, will reduce bottlenecks and speed decision making.”
Bloomberg points out “10 quarters of declining sales growth” and quotes Semel, “We are 100 percent organizing for growth. We’re continuing to hire.” The hometown Merc includes an even more zombielike quote from Semel’s statement: “The Internet is continuing to grow and evolve at a rapid pace, and we’re reshaping Yahoo to be a leader in the transformation.”
LAT has the best early quotes. “2006 was a year of great change,” RBC Capital Markets Jordan Rohan says. “Yahoo needed to adapt to that change much more quickly than it did. [The reorganization] still doesn’t help Yahoo catch up to Google. “This is most likely a step in the right direction, but there are many more steps yet to be taken.” But Lloyd Braun gets the money quote: “I feel like I accomplished most of my goals in coming here. I’m really ready for another challenge, perhaps one that combines old media and new media.”
Bloggers don’t share Braun’s confidence in himself. In Valleywag, Nick Denton is dancing on Braun’s grave, will likely be doing so for days to come, and has begun trying to bury Semel, too. Meanwhile Om Malik is wondering why Semel is still there. And Wired News says today’s moves aren’t enough. More as it comes in.