Yahoo Lowers The Net

The Internet icon's shortfall on sales sends the market spiraling to a new low. Wanted: a new adult supervisor

Not so long ago, the name of the company that Tim Koogle stepfathered from infancy to manhood deserved its exclamation point. It was a full-throated barbaric howl, the one profitable rebel yell of the Internet that really drove fear deep into the hearts of the old-media infantry. By last Wednesday, when the Robert E. Lee of this rebel force reached his Appomattox, the yell sounded more like an ironic groan. First-quarter sales set to be 40% off last year's estimate? Ya-hoo. Stock down 92% from its peak, with no end to the freefall in sight? Ya-hooey.

To be fair, Yahoo's...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!