Yahoo Sells Off HotJobs

Perhaps I don’t have a “business mind”. I do have a mind completely capable of grasping Newton’s Calculus and the currently popular concept of the universe known as String Theory, so when I think about the current movement of Yahoo, and the number of people stating that the new CEO is a wonder, I wonder how much sarcasm there must be in the statement.

I see the parallels between Yahoo and the greater United States, where, in each case, things of value keep being sold off or lost, and all the while there is someone at the helm with words of comfort, explaining that losing portions of the whole are good for that part which remains.

It’s like the spiel we received about the value of ideas versus the mechanism to act upon those ideas. We have the ideas in this country. No one disputes that the United States is the place of ideas, and education. Yet we see how the economy has been destroyed by the loss of manufacturing, and who holds the purse strings of the nation now. [If AMD ever dies, it will be the spin off of Global Foundries, more than anything Intel ever does or did, that kills it.]

These same ideas are being used to sell away all the properties of Yahoo, and Nero Ms. Bartz keeps fiddling as Rome burns.

[TechConnect]

Monster Worldwide has confirmed the signing of a deal that will see it buy Yahoo-owned recruitment site HotJobs for $225 million in cash. HotJobs, which has been on the market since summer 2009, is expected to help Monster provide an even bigger job seeker pool for employers, more job postings, better job matches and higher search efficiency, and a broader reach for recruitment advertising.

In addition to the HotJobs deal, the two companies have also entered a three-year agreement through which Monster will become Yahoo’s provider of career and job content on the Yahoo! homepage in the United States and Canada. Moreover, Monster will be able, for a limited time, to exclusively negotiate deals with Yahoo for traffic agreements covering countries in Europe, Asia and Latin America.

“HotJobs with its significant customer base plus the traffic agreement are an ideal complement to Monster’s innovative recruitment solutions and global reach,” said Sal Iannuzzi, chairman, chief executive officer and president of Monster Worldwide. “These agreements, combined with Monster’s career Communities and our recently introduced 6Sense semantic search technology, will bring substantial new benefits for employers seeking more qualified candidates and job seekers searching for more relevant opportunities across a wider range of industries – globally.”

The HotJobs deal is expected to be closed in Q3 and see to the beginning of the agreement described above.

We’ll see how good for that which remains this deal was in three years. Yahoo is circling the drain, but no one can see the hole, because the current orbit is large.

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