More Yahoo Pile-On: Crunching the Numbers

Today’s Yahoo pile-on comes courtesy of the New York Times. “[Marissa Mayer] paid about $3 billion for acquisitions of companies you’ve mostly never heard of, like Aviate, Polyvore and Distill (and one company you may have heard of, Tumblr). She spent $9.4 billion on stock buybacks; over the last two years, when the stock was trading higher, the buybacks have been a $2.5 billion money-losing trade. About $365 million of compensation went to Ms. Mayer herself, assuming she stays for an additional year and a half. And $109 million to an executive she hired to be her chief operating officer, who was then summarily fired 15 months later. An estimated $450 million on free food for the staff. And, depending on whom you believe, double-digit millions of dollars on parties and events, including a ‘Great Gatsby’-themed holiday party several weeks ago that was held with no apparent irony.”