Street hasn't freaked (yet) over Yahoo executive departures

But lack of investor reaction may signal something worse -- resignation

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Not only that -- and I'm sorry, this is just true -- cutting costs and laying off employees is easy, as is talking tough and swearing. The first one will impress Wall Street, up to a point. The latter two are meaningless, even pathetic.

Shareholders are getting impatient, and Bartz is feeling the pressure. She's been pushing back, arguing that she needs more time. I'm not sure how much more time she has. Yahoo has yet to figure out a strategy to compete effectively with either Google or Facebook. And the gap between those two and Yahoo is widening. All the memos in the world urging employees to "stay calm" -- as Bartz sent out Thursday -- aren't going to change that. And neither are F-bombs.

(Also see Maybe Yahoo just can't be fixed.)

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