Karma is a bitch.
From USA Today:
Yahoo (YHOO) shares plunged again Wednesday, a day after Congress hammered top executives over the company’s cooperation with Chinese officials in the jailing of a pro-democracy journalist.
Shares slumped 7.7% as Rep. Chris Smith, R-N.J., renewed a call for Yahoo to endorse his bill banning such cooperation. Smith said he remained “absolutely bewildered and angered” that the beleaguered Internet portal had not pledged to stop the practice.
At a high-profile hearing Tuesday, Yahoo CEO Jerry Yang and general counsel Michael Callahan apologized to the House Foreign Affairs Committee for misleading Congress about Yahoo’s role in the 2004 case against the journalist, Shi Tao.
Wednesday, Yahoo declined to endorse the bill. Repeating a statement Callahan made to the committee, company spokeswoman Kelley Benander said Yahoo “looks forward to working with the committee on constructive solutions to this complex issue.”
Tags: Yahoo China, Yahoo, Chinese Journalist
