The annual meeting of Yahoo! was held on August 1. The co-founder and Chief Executive, Jerry Yang chaired the meeting. The issue of contention with runaway rival Google (GOOG) and deals with Microsoft (MSFT) were main points of discussion in the much awaited annual meeting of Yahoo! group.

The stakeholders were angry with the way Yahoo! board handled the deal with Microsoft. Chairman Ray Bostock said that the stakeholders should not believe on the misunderstandings and misinformation pertaining the Microsoft’s deal. The company is committed to save the interest of its stakeholders. Stockholder Eric Jackson of Ironfire Capital demanded the resignation of board Chairman for not handling the negotiation with Microsoft properly. He has a consortium of 3.3 million shares in Internet Portal and Search Engine Yahoo!.

Yahoo! was demanding higher valuations from Microsoft and the deal could not be finalized as Microsoft was not ready to pay more.

CEO Jerry Yang did not make any comment on the negotiation talk with Microsoft. He, instead, stressed on the future plans and problems of company. He said that online advertisement needs to be made more effective as it is a major source of revenue for the company. He also explained human rights issues in the general body meeting.

Tony Cruz of Amnesty International blamed yahoo and other companies for compromise human rights for money sake.