Yahoo Semel’s last stand

This is a make or break year for Terry Semel. After an abysmal 2006, Yahoo now says it will return to posting double-digit profit growth in the second half of 2007. This would seem to buy Yahoo’s chief some time to get the firm back on track. But this will require additional patience from Wall Street. That’s because Yahoo hasn’t stopped disappointing its investors. It just projected first-quarter and full-year revenue for 2007 on the low side of Wall Street estimates. This will further diminish...