[wilfra]

Unless you consider 'they' the hedge funds who are now in control of the Yahoo board, your perception of who is inept is misplaced. This decision was a critical part of the regime change that took place. While Mayer is currently the CEO and may have the best of intentions, she doesn't have anything resembling the control that Zuckerberg, Larry Page or even Tim Cook have over their company. If she did, it is a near certainty that this money would have been retained and invested in the company.