Biz Break: Marissa Mayer bears her ‘cross’ as Yahoo sets shareholder meeting date

Top Of The Order: 

Mark Your Calendar: Well, we all knew Yahoo was going to hold its annual meeting soon, and on Monday, the company set a date for the gathering at the Santa Clara Marriott: June 30.

If you want to read all 100+ pages of the proxy statement that details what’s up for the meeting, then feel free to check it out here. Some of the soap opera-level drama expected at the event has been dialed down a bit, since Yahoo made peace with activist investor Starboard Value in April by adding Starboard CEO Jeffrey Smith and three of his allies to its board of directors. Starboard had earlier said it would launch a proxy fight to replace Yahoo’s entire board, including embattled CEO Marissa Mayer.

Still, there might be some excitement to come out of the meeting. Some shareholders will certainly want detail about Yahoo’s plans to sell its core Internet business. Co-founder and board member David Filo might even show up.

And while she might not have an actual cross to bear, Mayer is carrying a lot of weight around these days, as evidenced by the cover of the new Variety this week…

Middle Innings:

We’re Really, Really Sorry: You have to wonder how much of his day Facebook Chief Executive Mark Zuckerberg has to put into dealing with complaints and making apologies. Because it seems like every week, the social-media leader is getting into some kind of brouhaha over something that is posted on its site, or in one particular new case, over something it chose not to post.

On Monday, Facebook apologized for putting the kibosh on a photo of a plus-sized model because the image showed “body parts in an undesirable manner.” The image was part of an advertisement submitted by an Australian organization call Cherchez la Femme, which purports to put on culture talk shows that feature “an unapologetically feminist angle.” The model was a woman named Tess Holliday, and the ad was for “Cherchez La Femme: Feminism and Fat,” an event put on by the group.

Facebook had not allowed the ad, because it went against the company’s health and fitness policy which says “ads like these are not allowed since they make viewers feel bad about themselves.”

That got Cherchez la Femme riled up, as the group claimed its ad was meant to promote an event centered around “body positivity”.

The company apologized for originally turning down the plus-sized model ad saying that in some cases, “we incorrectly prohibit ads” and “We apologize for the error and have let the advertiser know we are approving their ad.”

Maybe because Facebook just got done sitting down last week with Glenn Beck and other conservatives to talk about a a perceived bias against news stories with a bent toward the right, the company felt it best just to say it was sorry before the plus-sized model ad became more of a “thing”. Or, maybe Zuckerberg really does answer all of the Facebook complaint mail himself?

The Road From Singapore: The Lending Club saga rolls on and on, and on Monday, its rolled on from Singapore all the way to Lending Club’s San Francisco headquarters.

Lending Club’s shares rose 8.3 percent to close at $4.32 Monday after it became known that an investor from Singapore disclosed that he has accumulated an 11.7 percent stake in the troubled online loan marketplace. The investor, Tianquo Chen, bought up the chunk of Lending Club via four companies he controls, including Shanda Media. The Shanda-led group now owns 29 million shares of Lending Club stock, and options for another 15.7 million shares. Shanda it plans on supporting Lending Club as it develops the online loan industry.

Lending Club has been bruised of late since founder and CEO Renaud Laplanche resigned earlier this month, and the Department of Justice said it was investigating the company over how certain loans were sold in violation of an investor’s instructions.

I Need A Lyft…Tomorrow: One of the best things about using a ride-hailing app is getting that immediate response that your driver is on his way, and seeing down to the minute how close the ride is to you.

It’s pretty simple. And San Francisco’s Lyft is trying to make the process simpler by giving you more time to hail your ride. Like up to 24 hours more time. Lyft is said to be testing a service that will let you reserve a ride up to a day in advance, with plans on rolling out the option in San Francisco this summer.

Bottom Of The Lineup:

Here’s a look at how some leading Silicon Valley stocks did Monday…

Movin’ On Up: Advances came from SolarCity, Extreme Networks, Viavi Solutions, Advanced Micro Devices and Infinera.

In The Red: Decliners included Aemetis, RingCentral, 8×8, Harmonic and Tesla Motors.

The tech-focused Nasdaq Composite Index was trimmed by almost 4 points to close at 4,765.

The blue chip Dow Jones Industrial Average gave up 8 points to end the day at 17,492.

And the broad-based Standard & Poor’s 500 Index shed 4 points to close at 2,048.

Quote Of The Day: “Does he have to be careful? I guess.” — Golden State Warriors coach Steve Kerr, after Warriors forward Draymond Green kicked Oklahoma City’s Steven Adams in the groin in Sunday’s Game 3 of the NBA Western Conference Finals. The Warriors lost 133-105, and may lose Green for at least one game, depending on how the NBA rules to penalize Green for the kick.

Sign up for the 60-Second Business Break newsletter at www.siliconvalley.com.

Photo: Yahoo CEO Marissa Mayer. (AP/Eric Risberg)

 

Tags: , , , , , , ,

 

Share this Post



 
 
 
  • Bo_Sears

    Marissa Mayer all dressed up and carrying a cross shaped like a “Y” wraps it all up and puts a ribbon on top. So disrespectful in so many ways.

    • hoapres

      Amen to that.
      John 3:16

  • hoapres

    Ya Who ???
    You mean these turkeys are still around.

  • hoapres

    The cover is tacky to say the least.
    John 3:16

 
 
css.php