How the mighty have fallen

Louis Proyect lnp3 at
Thu Mar 8 09:14:14 MST 2001

"Your glory, O Israel, lies slain on your heights. How the mighty have
fallen!" (2 Samuel 1: 1-19)


San Francisco Chronicle, AUGUST 6, 1998

Industry analysts said the Koogle-Mallett partnership has been a winning
combination that has maintained Yahoo's momentum.

"In terms of vision, branding and execution, it's hard to fault Yahoo,"
said analyst Keith Benjamin, of Robertson Stephens in San Francisco. "They
have created one of the two most well-known Internet-related companies,
next to AOL."

"They have done a good job building the initial phase of this industry,"
said Harry Motro, CEO of rival Infoseek. "Anybody running these companies
is performing a Herculean task."

About the only thing Koogle and Mallett aren't in a hurry to do is jump to
another company. Both said the challenge of harnessing the Net's explosive
growth is enough incentive to keep them onboard for the long term.

"When I was at Motorola, a group of Chinese engineers demonstrated this
great software that did as much as technology we had spent 100 times more
to develop," Koogle said. "We asked them, How did you do it?' and they
replied: Because no one told us we couldn't.' "

"That's our attitude at Yahoo," he said. "History doesn't hold us back. No
one tells us we can't do something because it didn't work before."


NY Times, March 8, 2001

Yahoo Warns on Sales, and Its Chief Resigns


Timothy A. Koogle resigned yesterday as the chief executive of Yahoo, as
the company warned that its sales in the first quarter would be far worse
than its pessimistic prediction in January.

Yahoo, which serves 185 million users, is the biggest Internet company that
mainly derives revenue from advertising and one of the few that earns a

But with the market for Internet advertising drying up, the company, which
operates an Internet portal, now says it expects sales of $170 million to
$180 million for the quarter, its lowest level since the end of 1999. At
the end of last year, analysts had expected Yahoo to report $320 million in
sales in the quarter. Then in January the company lowered its expected
sales to $220 million to $240 million.

Mr. Koogle, who is 49, said he decided it was time to bring in a new chief
executive to add a fresh perspective to the company.


Los Angeles Times March 18, 1990, Sunday, Home Edition  JAPAN AS NUMBER
SCHLOSSTEIN (CONGDON & WEED: $22.95; 537 PP.; 0-86553-201-0)

Steven Schlosstein doesn't necessarily want a trade war with Japan, but he
would settle for a cold war. "From now into the next century," he writes,
"the ideological challenge to America will not be Communism . . . but a
softer brand of authoritarianism from Japan . . . called turbocharged

He belongs neither to Richard Gephardt's school of losing through
Japan-bashing (in 1988, at least) nor to the cadre of Japan-won't-change
revisionists who oppose punishing our rivals for beating us fair and
square. He does believe that the powerful, strategically directed,
"goal-oriented" economies of Asia -- not only Japan but Korea, Taiwan, and
Singapore -- could relegate the United States to the condition of a
geopolitical and economic backwater in the next century.

Avoiding this outcome, in his view, will require rigorous economic,
political, educational and cultural reforms. A Sputnik-like scare, such as
a recession, might also be needed to rouse the American people to the new
international dangers they face even as the author of the old ones, the
Soviet empire, finally implodes.



Japan's Finances 'Close to Collapsing,' Minister Says

Japan's finance minister said Thursday that rising government debt has
pushed the nation's finances to the verge of collapse.

Kiichi Miyazawa's remarks in Parliament amounted to a public admission that
the government can no longer afford attempts to spend itself out of an
economic slump that is deepening again after some signs of recovery.

Japan's finances are ``very close to collapsing,'' Miyazawa said.

``We need fundamental fiscal restructuring aimed at rebuilding our finances
in the 21st century, looking 10, 20 years into the future,'' he said. ``Not
only measures to deal with reducing debt, but those to deal with taxes,
local government finances and social security will be needed.''

The finance minister offered no details, however.

Analysts and many politicians have long warned that profligate spending to
prop up the economy was unsustainable. . .

Louis Proyect
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