[Quote:]

Company-wide memo from Yahoo CEO Jerry Yang earlier today, capitalization sic, as filed with the SEC:

Subject: Building on our strengths

Subject: Shitting our pants

first off, I want to thank you for the great job you’re doing staying focused on executing our priorities. there’s obviously been a lot of talk about yahoo! in recent days and we won’t let it distract us from pursuing our transformation strategy.

Thank you for not quitting last Friday.

roy and I have communicated about the thorough review process our board is going through right now. the board is focused on maximizing the value of yahoo!’s tremendous assets for our shareholders. and it is going to take the time it needs to do it right.

We very much want to say “no” but can’t figure out how without triggering a shareholder revolt.

as we’ve said, no decisions have been made about microsoft’s proposal. our board is thoughtfully evaluating a wide range of potential strategic alternatives in what is a complex and evolving landscape. and we’ve hired top advisors to assist through the process.

Does anyone have any wealthy relatives with 40 or 50 billion dollars to invest?

(there’s more, go read the rest)