Yahoo's Scott Thompson Open to Lawsuit from Stonehill College
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By now everyone must have read something about the Yahoo (NASDAQ: YHOO) controversy as to whether Scott Thompson embellished his academic credentials and if Yahoo inadvertently became the victim of an intellectual fraud. Daniel Loeb, CEO of Third Point, is suggesting he will start a lawsuit at high-noon EDT today if the board does not terminates Scott Thompson and the former head hunter who stick handled the executive search and is reputedly being accused of a very similar set of circumstances. Much fire and brimstone. Third Point which was already at the ramparts cannot believe their good luck in finding such cause. They have been able to manufacture righteousness and much serious chin scratching over the issue.
The investment world is preparing for a gladiatorial confrontation pitting doofusses as described by Carol Bartz admittedly in a highly emotional encounter which some suggest was a moment of clarity against a rough tough hedge fund with two quivering guinea pigs in the middle. but that will not be the main event. The truly aggrieved party is Stonehill College which is billed as a Roman Catholic College.
Academic institutions have nothing but their reputations. Claiming to have earned a designation when it ain't so is an assault on the brand. If anyone can claim successful completion of rigorous academic standards and then found to be wanting what of the alumni who did meet the standards? What of the current students struggling with the course load and paying their dues? What of future students who want to aspire? They have been robbed irregardless of Yahoo's response or Third Points counter moves.
I can see perhaps encourage a college to pursue civil remedies against someone who inadvertently postures with credentials which were not rightly earned. I can see some alumni who may want to protect their credentials start civil actions , take the judicial winnings and set up scholarships for deserving students.
So those of you with falsified resumes and manufactured academic credentials you should be tracked like animals and made to pay. In this case Yahoo if they cannot shake off culpability are probably good for a say $25 million dollar settlement or some such traffic ticket.
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