Yahoo still has a long battle to undertake. Carl Icahn, as described in a Yahoo buyout overview by Dennis Carey, took his “dissident campaign” to momentarily have for him and partners a couple of board seats. Votes have been made and Jerry Yang may have remained on his leadership seat, but a continued crash on their stock value must keep their stockholders’ fingers tightly crossed.

American Technology Research’s Rob Sanderson said on a researched report that Microsoft would likely make another offer as Yahoo shares fall down, though it would be “significantly lower” this time than the $31 last February. Recently, there have been reports also about a possible close deal this month on Yahoo’s acquisition of AOL. Taking note of Time Warner (AOL’s parent company) having a favorable take with the deal, but questionable on Yahoo’s strategic gain.

Yang and his management team may be thinking out of the box and shaping up evidently hard right now. Hiring Bain consultants may soon take-off 3,018 (more than 20%) of their workforce. But will it just take away the stored fats and beef up the organization again with AOL’s acquisition? If ever Microsoft’s gonna offer, why would Yang going to refuse another round? Either Yang has a clear vision of how he wants Yahoo to turn around or his chances getting dimmer on salvaging himself of what’s inevitable.