Yahoo!'s Chairman and Board Don't Exactly Inspire Confidence

5/16 - "...if you see Yahoo! chairman Roy Bostock walking with a noticeable limp this morning, it may be because his own words shot him in the foot.

"Microsoft's proposal significantly undervalued Yahoo!," Bostock writes, referring to the software giant's original $31-a-share offer. Ouch. If Bostock feels that $31 leaves Yahoo! "significantly undervalued," what does that say for his board's performance?"

"Our business is performing well as evidenced by our first quarter results," Bostock writes. Wellness is relative, I guess.

I certainly wasn't impressed by last month's report. Revenue inched just 14% higher during the period, and that was with the non-organic boosts provided by the company's many display-advertising acquisitions during the period. Other search-engine specialists like Google (Nasdaq: GOOG) and IAC's (Nasdaq: IACI) Ask.com are growing more quickl...