Yahoo

Very smart, talented, and capable employees.

Opportunity to learn how to be effective despite a not-so-perfect organization.

Laid-back atmosphere with plenty of resources.

Good work-life balance if you join the right group.

Some great managers to learn from and be mentored under.

Terrible, arrogant, and incompetent management.

Great managers get demoralized and defeated by the pattern of bad management at Yahoo and leave.

Lower-level employees also become disillusioned by either seeing their work go in vain or a lack of direction from senior management.

Mediocre morale and a constant feeling of being 'second-rate'.

Vague and meaningless mission statement that evokes more confusion than anything else.

Come up with a more precise and understandable mission statement. Hire top engineering talent, not paper-pushing MBAs. Make tough decisions quickly and be willing to take big risks.