• TechCrunch, Wednesday, June 22, 2011 11:15 AM

How's Yahoo's turnaround coming? Don't ask Michael Arrington. Under the snarky headline, "Yahoo's 360 Turnaround," TechCrunch's co-editor insists that things are going from bad to worse for the Web portal.

"Yahoo CEO Carol Bartz has long promised a turnaround at the lagging company." The only thing Yahoo seems to be doing, however, is "spinning in circles." As a result, Yahoo is quietly looking at replacement CEO candidates, according to Arrington. "Fox Digital Chief Jon Miller has had 'early and unofficial' discussions with the Yahoo board of directors about taking over as CEO," he writes. "It's thought that Yahoo board member David Kenny, who's long wanted the job, is also a current candidate."

Worse yet, sources tell Arrington that Yahoo's financial results will be significantly below what the street expects, even after expectations were lowered in May. Adds Arrington, "We expect significant revisions to the guidance Yahoo will be giving analysts going forward based on what we've heard, particularly for the last half of the year."

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