Sign In
SHARE
Yahoo Vote-Counter: "We Screwed Up"
Sam Gustin shakes his head at the wonder of it all. Is Yahoo such a mess that it can't even get the proxy vote tally from its shareholder meeting correct?
To be fair, Yahoo is placing all of the blame on the vote counter, and says it's had nothing to do with compiling the final tally.
Still, the Yahoo vote-snafu seems kind of an apt metaphor for the company's flailing performance -- not just financially, as it's gotten schooled by chief competitor Google in recent years -- but also in its awful handling of Microsoft's bid, culminating in its decision to accept an offer (at $33 per share) that it had previously rejected, only to find the offer withdrawn.
As in the Microsoft saga, Yahoo is blaming the other guy -- in this case, Broadridge Financial Solutions, the company charged with counting the Yahoo proxy votes for Capital Research Global Investors, which says it screwed up when tabulating the vote tally (and it's not the first time).
"Upon review, it was determined that there was a truncation error in the final printout sent to the tabulator," Broadridge said in a statement. "This resulted in the under-reporting of shares withheld for certain directors. This error did not change the outcome of the election of directors, and was determined to be an isolated incident."
The company said some of the results it submitted had only eight digits, when they should have had nine.
We're standing by for the revised, updated, amended results.
Loading...
Thank you for registering as a Portfolio.com Insider. Your comment has been added.
Create Your Public Profile
- First Bytes: SEC Eyes Tweets, Waiting on a Verizon iPhone
- Apr 27 2009 9:10AM EDT
- Last Bytes: A New MySpaceFace, Technological Necessities
- Apr 24 2009 5:22PM EDT
- What the One Billionth Downloader Won
- Apr 24 2009 2:37PM EDT
- The End of Innocence at Apple
- Apr 24 2009 11:25AM EDT
- First Bytes: Social Videos, 1 Billion Apps, Mt. Everest Calls
- Apr 24 2009 10:23AM EDT
- Last Bytes: Microsoft and Amazon, Two Tales of the Economy
- Apr 23 2009 5:40PM EDT
- Dell's Plastic Surgery
- Apr 23 2009 3:12PM EDT
- Why High Tech Needs the Wall Street Quants
- Apr 23 2009 11:20AM EDT
- First Bytes: New Blood at MySpace, Steve Jobs Testimony
- Apr 23 2009 9:05AM EDT
- Last Bytes: Apple Profit Soars; eBay Profit Falls
- Apr 22 2009 5:04PM EDT
- Earth Day Special: Gadgets to Green Your Lifestyle
- Apr 22 2009 1:52PM EDT
- First Bytes: Cyberspies and Belgian Bots
- Apr 22 2009 9:55AM EDT
- Last Bytes: Is Texting Passé? Not Yet.
- Apr 21 2009 5:52PM EDT
- Happy 20th Birthday, Game Boy
- Apr 21 2009 4:11PM EDT
- Gaming Geeks (and Curt Schilling) Unite!
- Apr 21 2009 12:43PM EDT
Archive
Categories
Links
- Kevin Maney's site
- TechCrunch
- GigaOM
- Engadget
- USA TODAY Tech
- Romenesko
- BuzzTracker Tech
- Roger McGuinn's Folk Den
- Maney's band on MySpace
- Spiedies, mmmm
- Somewhat Frank's tech conference list
- Marc Andreessen
- Mark Cuban's blog
- Tom Foremski
- Fred Wilson
- Pandora
- SciTech Daily
- Todd Bishop's Microsoft Blog
- Steven Johnson
- The Long Tail
- paidContent
- John Battelle's SearchBlog
