Apparently a meeting last weekend between the two companies failed to resolve the impasse causing a drop of 10.1 percent in Yahoo's stock on Thursday, or by $2.63 to $23.52. I bet that $33 per share offer made verbally by Microsoft's Steve Ballmer back in the Spring is looking pretty good to Yahoo shareholder's right now.

It looks likely that search giant Google may come to the rescue with an agreement with Yahoo allowing Google to use it's ad share technology on Yahoo's system.

Meanwhile, Carl Icahn must be instigating plans to overthrow the board with his attempted coup, that or going on a bender somewhere. What remains to be seen is whether he still has majority support to oust the board and executive team, unless he can engineer a quick turnaround plan. Apparently none of the parties involved were saying much today. Hardly surprising really, both Yahoo and Icahn must be licking their wounds right now.