• Financial Times, Wednesday, September 10, 2008 11:45 AM

The Financial Times asks what happened to the expected "aftershocks of change" following the addition of Carl Icahn and friends to the Yahoo board. In fact, all that's happened in the six weeks since Icahn's appointment to the board is the company's stock price hitting a five-year low of $17.75. On Thursday, senior Yahoo executives will publicly address the company's strategy, but the FT is expecting to hear more about the development of the company's platform than any solid financial details.

Analysts, meanwhile, wonder why the board hasn't taken more drastic action to try and right Yahoo's sinking ship. "It has been more than a month and we've yet to see more aggressive activity such an accelerated buyback, including a Dutch tender offer (within a given price range) which is now a more plausible possibility," says Scott Kessler, IT analyst at Standard & Poor's equity research.

Tomorrow, Yahoo is expected to emphasize its Amp advertiser platform as well as its Yahoo Open Strategy aimed at software developers. "Neither will have an impact on the bottom line in the near future," the FT report points out. Meanwhile, Kessler says, "people are getting very tired of the same old refrain of Yahoo saying they are focused on shareholder value."

Read the whole story at Financial Times »