It was just fifteen years ago that I was a bright-eyed high-school student and even though I didn’t have a computer at home, I would spend a good chunk of my time after school in our computer lab. Even though most of that time was used for playing games I used Yahoo! for 99% of my internet searches. Back then, Yahoo! was the be all and end all and these days, they continue to fall farther and farther in the search engine business.
Because of poor results, Yahoo! announced earlier this week that they would have to lay-off 600 of their employees, which equates to about 4% of their workforce. In addition to the layoffs, Yahoo! will be shutting down a few of their side projects, like Alta-Vista, Delicious and Yahoo! Buzz. The timing on these layoffs was just ridiculously awful but when you’re a company like Yahoo! that is scrambling for ways to compete with Google, oversight is going to happen a lot more often.
So how can a company with such a stranglehold in the market one day be in such bad shape just a few years later? I think Yahoo! might want to have a chat with Blockbuster and ask them the same question. Granted, these businesses have different models and products but they’re paths to failure are looking similar. Business 101 should teach adaptation these days as technology is changing at a rapid pace and if a business are not ready to change, they will be replaced faster than the blink of an eye.
Let’s take a look at our last roundup of money articles before Christmas!
Why Jim Cramer Doesn’t Give Bad Financial Advice @ Weakonomics: It’s been a while since I’ve watched Jim Cramer but he seems like more of a personality than a financial advisor doesn’t he?
Are You on the Hook for Repaying Your Home Buyer Tax Credit? @ Cash Money Life: Much to the surprise of homeowners who took advantage of this tax credit, the home buyer tax credit may have to be repaid. Completely repaid.
Life Expectancy Drops for the First Time in Four Years @ MainStreet: It’s a sad sad day but the average lifetime in the United States is not going up this year. Instead, life expectancy drops this year, something that turns out to be very rare.
Four Wastes of Your Time That Will Keep You Broke @ Own The Dollar: The one thing that is equal in everyone’s life is time. Yes, some live longer than others but each day, everyone has 24-hours to be the best they can be. Make sure you don’t waste yours.
Free College Courses from Top Universities @ Money Crashers: Education is extremely important these days and even if you cannot afford to go to school, you can receive a few online college courses for free.
Work Lunches Don’t Have to Be Boring or Expensive @ MoneyNing: Working from home, I usually end up having Scooby Doo Mac N’ Cheese, which I think qualifies as inexpensive AND exciting!
How to Avoid Sneaky Airline Fees @ Get Rich Slowly: Like most Americans, I’ll be traveling a few thousand miles this holiday season and it’s going to be difficult to avoid the fees as American Airlines charges for most everything these days.
And this past week, we participated in the following carnivals:
- Carnival of Personal Finance
- Carnival of Traders and Investors
- Carnival of Money Stories
- Best of Credit Cards and Saving Money
Published or updated July 12, 2012.