Yahoo is in trouble and only Steve Case can save it.
I've been following the machinations at Yahoo surrounding the false assertions that CEO Scott Thompson had a degree in computer science. Now, everyone wants to tar-and-feather the guy. In reality, though, this is all about the fact that Yahoo, a massive Internet corporation that should be in direct competition with Google, Facebook and Microsoft, is a pathetic also-ran with a miserable image and zero buzz.
This Yahoo image is wrong, but the board of directors had no clue about Scott Thompson and failed to inspect his background. The company cannot find anyone with the skill set needed to make Yahoo a powerhouse rather than a laughing stock. Hey, the perfect guy is right there in the public eye: Steve Case.
Case was the first Mark Zuckerberg. A genuine visionary. Now what does he do? Well, not what he should be doing, which is managing Yahoo. He has invested in things such as health care and luxury hotels. He is on a few presidential councils, which are merely drinking clubs, as far as I'm concerned. He also helps his wife run a charity. Bill Gates does that, too.
Case can often be spotted up in the balcony at presidential speeches. Hey Steve, compare your seat with that of Google's Eric Schmidt!
Part of the problem is Case overshot his ability to get a job. He pulled off one of the biggest deals in the history of business when the smallish AOL bought out Time Warner. It was amazing, but now any CEO job seems beneath him. Is the CEO job at Yahoo beneath him? I think not.
Someone needs to approach Case, and fast. I have been following this industry closely for 30 years and I can predict that Case could save Yahoo. He could run the stock price up into the hundreds because he actually understands the scene and has the chops to do what it takes. He knows what is needed, can execute plans, and can deal with office politics. He's connected to the government in many deeps ways and he's also respected by everyone.
So why doesn't this happen? A couple of things may make it difficult. Case seems content. This is bad. He has to ask himself if his current life is worth his time. Sitting on boards and having meetings all day is not for men of action. Hey, Steve, how often do you find yourself holding a glass of white wine or club soda while standing up? You know, at some confab where all these ever-so-important muckity-mucks are chatting amongst themselves about the important issues of the day. "Let's have lunch soon!" "Yes, my secretary will call your secretary." "Brilliant!"
Somehow, I don't believe that John D. Rockefeller or Andrew Carnegie spent endless hours at cocktail parties making small talk with Washington bigwigs and U.N. delegates. Maybe some of this happened in private clubs, but that's different.
The fact that Case has been out of the game this long is a ridiculous indictment of the tech business and those behind the scenes. He should not be drinking cheap Chardonnay served in a Libbey wine glass in a roomful of the phonies, mavens, socialites, blowhards, and wannabees who frequent major conferences to discuss science or politics or technology. This guy should be fixing Yahoo so that it can get back into the conversation. He should be a captain of the industry with no time for this sort of nonsense.
Bad information or not, Scott Thompson does not appear to be either a visionary or a well-known turnaround expert. I'm sure he's a nice guy, but so what? He's the classic CEO who can maintain things, not the innovative CEO that Yahoo needs.
Note to the Yahoo board: get Steve Case. Surely you can dangle a billion dollar carrot.
You can Follow John C. Dvorak on Twitter @therealdvorak.
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