Yahoo: We're Not Shutting Down Yet! (YHOO)

Yahoo wants you to know that the company has not, in fact, curled into a fetal position. In particular, it wants you to know that contrary to our reports, it hasn't stopped hiring. Proof? A new ad campaign which leads surfers to a page offering 696 jobs.

Our tipsters tell us that Yahoo (YHOO) isn't likely to actually fill those positions right away -- the almost-total hiring freeze we've been talking about is supposed to be in place through mid-July -- but point taken: The company is not, in fact, shutting down.

In fact, some Yahoos tell us, life at Sunnyvale hasn't changed much for the rank-and-file in the last few weeks. But what about the flood of executives pouring off of campus? Surely that must change your workday, right? "If we didn't read the blogs, we wouldn't know anything unusual was going on," one dutiful engineer tells us.

And while we're playing contrarian for the moment, here's another perspective on the Yahoo mess -- Google execs aren't happy either, a Valley bigwig tells us.

So there you go, Yahoos: Things could be worse. Thus ends our pep talk for the morning.