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Latest Third Point LLC Stories

Loeb’s Letters Finally Take Their Toll At Yahoo
2012-05-09 09:30:06

Michael Harper for RedOrbit.com Update 10:30 AM CST May 9: Loeb and party have issued another letter to the board at Yahoo, expressing what could be called extreme frustration with the way they´ve handled their requests thus far. Finding Hart´s statements and Thompson´s apologies unacceptable, Loeb wrote: ---------- Dear Board of Directors: Six days have passed since Yahoo! acknowledged the fabrications in Chief Executive Officer Scott Thompson and Director Patti...

Yahoo CEO Apologizes, But Will Not Step Down
2012-05-08 08:13:18

Michael Harper for RedOrbit.com It would appear as if Third Point´s 3 letters and subsequent follow-up have strong-armed Yahoo CEO Scott Thompson into apologizing for “padding” his resume with false information, but he isn´t planning on stepping down. According to an early morning release from Reuters, Yahoo´s board met yesterday afternoon to discuss the company's mounting troubles and controversy surrounding Thompson, who has reportedly made false claims on...

As High-Noon Deadline Passes, Third Point Fires Back At Yahoo board
2012-05-07 11:22:03

Michael Harper for RedOrbit.com Last week, Yahoo´s largest investor Third Point LLC called out the new CEO Scott Thompson for allegedly lying about his education. Thompson, who has only been in his position since January, has been saying he has a Bachelors degree in computer science for years. Dan Loeb, who heads the hedge fund, discovered this was not true, and asked for further investigation by the board of directors. The board answered Loeb by saying they would look into his...


Word of the Day
grass-comber
  • A landsman who is making his first voyage at sea; a novice who enters naval service from rural life.
According to the OED, a grass-comber is also 'a sailor's term for one who has been a farm-labourer.'