Don’t tell me you really thought things were going to get better at Yahoo after they tossed out Terry Semel and handed the company back to Jerry Yang. What’s that? You did? Well, sorry to disappoint you. First bad sign was that Jerry, who presumably had been somewhat familiar with the company before replacing Semel, said he still needed 100 days to find out what the hell needed to be done. Now he has figured that out and his answer is this: Not much. No, seriously. That’s the word in the Wall Street Journal this morning, in an article saying Yang has decided to pursue a “cautious course” and that “a major overhaul is unlikely.” No sense linking to the Journal squib but luckily the Reuters Bangalore bureau is on the job with a knock-off. See here. Best part is the statement that Yahoo provided to the Journal: “Jerry Yang and Sue Decker are committed to making significant changes to the way Yahoo operates, and to sharpening its focus on key initiatives that will enable the company to improve its performance and strengthen its position as the most open, vibrant online marketplace for consumers, advertisers and publishers.”

Whew. That’s going to send the stock soaring, right? Maybe they’ll bring in some consultants from McKinsey or IBM Global Services who can “custom-design a strategic vision aimed at achieving synergies, unlocking value and leveraging assets across multiple brands and platforms with an emphasis on growth, cost containment and unleashing a plan of action that can identify and solve real business pain points.” Or maybe they should buy Facebook. Or something. (Photo: Burt Hammer, Hammer Agency.)