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Now Yahoo's Real Search Begins
Yahoo ended one widely watched search--for a new finance chief--by hiring a former honcho at Thomas Weisel Partners. That, in turn, tacitly kicked off another search: For acquisitions.
Hiring a veteran dealmaker like Blake Jorgensen to succeed Susan Decker as C.F.O. drove the last nail into the coffin of the rumors that Yahoo is thinking of selling out to Microsoft.
Jorgenson buys, he does not sell. He was a co-founder of Thomas Weisel Partners, the San Francisco boutique bank, and was most recently a co-director of investment banking. His hiring is a none-too-subtle sign that Yahoo C.E.O. Terry Semel and his heir apparent, Decker, are planning to use acquisitions to boost the company's laggardly earnings.
It's a good time to be a small company with a bright idea about internet advertising.
by Mark Stein
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