When last we left the Microhoo saga, Microsoft was expected to fish or cut bait sometime this week. That hasn't happened yet.

According to a Wall Street Journal report, Microsoft's board failed to reach a decision on the company's three-month-old Yahoo bid. However, widespread news reports have circulated that Microsoft would be willing to raise its bid to as much as $33 per share.

But money aside, the Microhoo saga has increasingly become about a culture clash that has made many observers wonder if the two companies could work together once they square away the troubling financials.

In the meantime, rival Google, whose success has necessitated this merger, continues to expand its lead, despite efforts by both Microsoft and Yahoo to counter the search giant on separate fronts.