Tag Archive: Michael Kors


“I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter.” Yahoo! CEO Marissa Mayer in her July 25 employee letter announcing Verizon’s $4.8 billion cash acquisition of Yahoo!

What next chapter?mayerbook

Want to take an Internet pioneer, first-mover $125 billion company and transform it into an also-ran, acquisition target for four pennies on the dollar?

And to top it off, reward Yahoo! chief executive officer Marissa Mayer with more than $50 million in severance pay?

Wonder why so many are so upset with Wall Street?

What is it with high-accolade, lofty-expectations, lavaliere-strutting narcissistic chief executives, who are ostensibly hired to reverse the fortunes of struggling companies?

Much later, we all discover their real personal agenda was to simply put the corporation on the auction block, and to get paid handsomely for the privilege.

Where can I sign up for this lucrative gig?

The author of Almost DailyBrett will gladly say all the right things for a few years, bloviate at a few “developer” conferences, CES, SXSW and TED Talks and then when no one is looking, sell the company to the highest of low bidders and get rewarded for creating … nothing, absolutely nothing.

Hold That Horizontal Pose!

Alas, one thing your author will never be asked to do is pose for Vogue. Sorry, I don’t own a Michael Kors dress … and never will.mayer

Almost DailyBrett three years ago questioned why relatively new Yahoo! CEO Mayer would accept Vogue’s invitation for a horizontal spread in a fashion magazine? Was she trying to impress buy-side and sell-side institutional investors?

Women have long and justifiably complained about being objectified. What was telegenic Mayer doing with her Vogue reclining pose?

What did her PR team think about her proving once again that sex sells? Did her photo draw even more eyeballs to rival Google’s market-leading search engine?

Before you start thinking that Almost DailyBrett is solely focusing on the lucrative PR disaster record of one Marissa Mayer, please consider that many are still smarting over how Abhi Talwalkar drove LSI Logic into the ditch and received at least a $5.74 million severance payment for burying the company.abhi1

Your author served as the director of Corporate Public Relations for LSI Logic. Even though I left after 10 years to join Edelman Public Relations in December 2005, one could already see what Abhi had in mind … shed as many assets as quickly as possible to make the company more attractive to buyers.

As Almost DailyBrett previously reported, LSI Logic was the innovator of the application specific integrated circuit (ASIC) specialty semiconductor market for nearly 25 years under the leadership of founder Wilfred J. Corrigan.

It took Abhi less than nine years to end its existence, eventually accepting Avago Technologies (H-P’s former semiconductor business) for $6.6 billion offer in late 2013. LSI Logic is no more, but Abhi’s contract provided for the following:

  1. In the case of our Chief Executive Officer, a lump sum payment equal to 2.75 times his or her base salary and average bonus received over the preceding three years. In the case of a participant other than our Chief Executive Officer, a lump sum payment equal to two times the individual’s base salary and average bonus received over the preceding three years. 2. Full acceleration of all unvested equity awards. 3. Reimbursement of COBRA premiums for health insurance for 18 months. 4. In the event that a participant’s “parachute payments” are subject to the excise tax imposed by Section 4999 of the Internal Revenue Code, then LSI will make a supplemental payment to the participant in an amount that equals the excise tax on the parachute payments, plus any additional excise tax and federal, state and local and employment income taxes, on the supplemental payment. However, the total supplemental payment shall not exceed the sum of the participant’s (i) base salary immediately prior to the change in control, and (ii) target bonus for the year in which the change in control occurs.

Glad to see the “supplemental payment” would not exceed Abhi’s $2.09 million annual salary. Enough is enough … Right?

It’s even better that Vogue didn’t ask Abhi to pose horizontally in a Michael Kors dress.

His severance was obscene enough.

http://fortune.com/2016/04/19/verizon-yahoo/

http://www.forbes.com/sites/briansolomon/2016/07/25/yahoo-sells-to-verizon-for-5-billion-marissa-mayer/#7b9c799b71b4

http://www.forbes.com/sites/briansolomon/2016/07/25/here-is-marissa-mayers-final-letter-to-yahoo-employees/#54a12ae875ba

https://almostdailybrett.wordpress.com/2013/08/18/mayer-vogue-nasdaq-yhoo/

https://almostdailybrett.wordpress.com/2014/01/02/farewell-lsi-logic/

http://dealbook.nytimes.com/2013/12/16/avago-to-buy-lsi-for-6-6-billion/?_r=0

 

 

mayer

According to CNBC.com, the unscientific polling of online respondents runs 60-40 percent in favor of Marissa Ann Mayer’s horizontal glamour photo in the latest edition of Vogue.

Keep in mind that result still represents a healthy percentage, who question the decision of the telegenic blonde ex-Google executive, now President and CEO of the Sunnyvale-based web-portal, search-engine provider, Yahoo!

No one would deny that Mayer, 38, has the discretion to make herself available for the photographers and writers of the renowned fashion magazine Vogue. The questions that come to mind concern the timing and the impact on the Mayer and Yahoo! brands.

Taking a gander at Mayer’s feet slightly above her head Vogue photo spread, one may be reminded of Bill Clinton’s eye-brow raising, open-legs 2000 cover shot for Esquire, rekindling memories of Bill, Monica and Kenneth Starr.

How many other publicly traded company CEOs would be invited by Vogue to pose in a horizontal fashion? What subliminal messages are being sent, particularly in a predominant Silicon Valley engineering culture? Talk about tongues wagging at the water cooler and the inevitable social media chat.

Maybe that is what this gambit is all about?

Let’s face it: The music had stopped playing for Yahoo! Even though Mayer has been able to raise Yahoo’s share price by 74 percent to $27.35, drive market capitalization and acquire Tumblr, the world does not speak of Mayer’s company in the same fashion as it does for Apple, Salesforce, Amazon, LinkedIn, Netflix, Facebook and of course her biggest rival, Google.

Having said that, there is no doubt the tech community is talking about Mayer. For Vogue, the editors are following the tried-and-true axiom: Sex sells. Is Yahoo! about sex or about technology?

And what is the paramount brand: Yahoo! or Mayer?

There is always a danger that is associated with the imperial CEO and the company becoming an interchangeable brand…or worse, the CEO is the brand. Oracle is Larry Ellison. Sun Microsystems was Scott McNealy. Apple was Steve Jobs. Hewlett-Packard for six years became Carly Fiorina.

There was Carly, Carly and still more Carly.

Has $117 million (over five years) Marissa become a more beautiful-and-fashionable version of Carly? Carly and HP became synonymous in that order with disastrous results. To this day, Hewlett-Packard has never recovered from the Carly era complete with the ill-advised and divisive acquisition of Compaq Computer as the PC market was maturing and stalling.

What happens to Yahoo! if something (heaven forbid) happens to Marissa? Do we lose interest in Yahoo!? Who else matters at Yahoo!? Is Marissa grooming a successor and a deep bench? Will she also be invited to pose horizontally in a Michael Kors dress?

In public relations, timing is everything.

Mayer has been on the job for only 13 months. She already delivered her new son, Macallister. She took off two weeks for maternity leave, built a nursery right next to her office and earned the rhetorical slings and arrows treatment usually reserved for Republicans from the always kind-and-considerate, Maureen Dowd of the New York Times.

She is just now getting into her groove. Shouldn’t she spend more time driving revenues and promoting profitability at the also-ran, search-engine provider, Yahoo!, before venturing off into the high-fashion world of Vogue? Her main competition is her former employer, Google. What’s worse is Google has become of the few companies that is actually a verb as in “Google this!” or “Google that!”

She is described by CNBC as “successful, strong and beautiful.” Still one must ask: Has she done enough for Yahoo!? Is her star rising faster and higher than Yahoo!? Is there a danger here?

One thing is certain when it comes to the media; the beast is the direct opposite of the U.S. Marine Corps. The folks at Camp Pendleton are renowned for breaking you down and then building you back up. The media specializes in building you up and then quickly bringing you down to earth in an unceremonious fashion.

Carly has first-hand experience when it comes to a Silicon Valley CEO ascending into the stratosphere and then crashing in the desert.

There are many, who will not celebrate Mayer’s celebrity. They will engage in Schadenfreude, when the inevitable bumps in the road ensue for Mayer and her company.

Maybe her company still matters.

And hopefully she didn’t peak to early.

Did the blood rush to her head when she posed with her heels elevated above her?

http://www.cnbc.com/id/100968027

https://almostdailybrett.wordpress.com/2011/07/21/what-happens-when-the-music-stops/

http://www.prdaily.com/Main/Articles/15083.aspx

http://en.wikipedia.org/wiki/Marissa_Mayer

http://www.usatoday.com/story/tech/2013/08/16/marissa-mayer-yahoo-ceo-vogue-magazine-profile/2647691/

http://www.yahoo.com/

http://pressroom.yahoo.net/pr/ycorp/marissa-mayer.aspx

http://en.wikipedia.org/wiki/Carly_Fiorina

http://guestofaguest.com/things-we-love/our-favorite-retro-remakes-6-iconic-photo-recreations&slide=5

http://www.nytimes.com/2013/02/27/opinion/dowd-get-off-your-cloud.html?_r=0

http://www.cnn.com/2013/08/20/living/marissa-mayers-vogue-photo-women/

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