1. From the perspective of a stockholder in Yahoo, what is your view of the $3B share repurchase announcement? Is this an effective use of capital? Recall that stock buybacks are done based on various approaches/motivations. Which buyback approach was being used by Yahoo in your opinion?

2. From the perspective of Verizon’s management, what is your view of the announced $3B stock repurchase program by Yahoo prior to the merger? Does it make sense? Add value or not? Explain your reasoning.

3. From the perspective of Yahoo’s stockholders, how would you feel about the compensation for Marissa Mayer, the CEO?

4. If you were the CFO of a large US public company what would your reaction be to a proposal to tax stock buybacks? Explain your rationale.