16 of 21
BACKNEXT
Yahoo turns down payday
Yahoo turns down payday
Outgoing Yahoo CEO Jerry Yang
If Microsoft's offer for Yahoo was wrong-headed, Yahoo's opposition to it was downright bone-headed. It took until July, when Microsoft finally throws up its hands and walks away, for Yahoo CEO Jerry Yang to fumble a deal that would have rewarded shareholders with a payday that was three times what Yahoo shares were fetching at year-end.

Along the way, Yahoo flirts with Google - only to see any potential deal scuttled by antitrust regulators. As 2009 approaches, Yahoo's chances of turning itself around look slim. -- By Adam Lashinsky, Fortune editor at large

What do you think was the year's Dumbest Moment in Business?Join the discussion now.

NEXT: SEC's Madoff miss
Last updated December 31 2008: 10:36 AM ET
Lamest roadtrip ever The Big 3 CEOs' drive from Detroit to D.C. to request a bailout was classic. More video
How to lose an electionJohn McCain's statements about the economy may have killed his campaign. Morevideo
The ballooning bailout Expanding from three pages to 451, the TARP bill was loaded with pork, eventually resulting in a flip-flop by Paulson. Morevideo
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.