Yahoo Chief Executive Marissa Mayer is keeping all of her bad options open. The floundering internet firm topped a whopping $4.5 billion write down in the fourth quarter with plans to pursue “strategic proposals” for its core search and advertising operations. The company also said it will cut 15 percent of its workforce, jettison products like some digital magazines and maybe spin off the core assets from its stake in Chinese e-commerce giant Alibaba. Selling those assets is still the best of a bunch of lousy choices.
It’s fitting that Yahoo released the news on Groundhog Day, the annual U.S. occasion for seeing whether an enormous rodent will predict a long winter. A movie with that title employs the plot device of actor Bill Murray reliving the same day in a never-ending loop.