The real problem at eBay: corporate g...

The real problem at eBay: corporate governance

There are 4 comments on the Fortune story from Mar 21, 2014, titled The real problem at eBay: corporate governance. In it, Fortune reports that:

If your mother read about it in the Wall Street Journal, would she yell at you about it? That's the governance test used by Icahn Enterprises for the directors of the companies it invests in.

Join the discussion below, or Read more at Fortune.

Since: Nov 13

Sydney, Australia

#1 Mar 21, 2014
Only a 20% sell off of “PreyPal” now?

Hmmm, Icahn suggesting only a 20% sell off of “PreyPal” now?

Frankly, if I was Carl Icahn I would take any profit there still is in the share price, and get the hell out of eBay and let Johnny Ho continue with his “destructive renovations”.

The fact is, notwithstanding the nonsense that continually flows from the eBay Dept of Spin, eBay's shareholders have been, relatively speaking, going backwards since Johnny Ho took effective control of eBay in late 2007 ...

So, what does the “smart money” on Wall Street think about the progress of Johnny Ho’s delusions of converting eBay into the world’s “Westfield Mall” of online shopping? Well, in late 2007—when the Ho appeared to already be effectively in control of eBay—eBay’s and Amazon’s stock prices were both ~$40; now eBay is still only ~$57 and Amazon is ~$373.

Ah, but what about the stock splits, you say? Well, there has not been a stock split by either Amazon or eBay since 2005. But let’s then be fair and look at the value of both these entities since their IPOs, taking into account their stock splits:

eBay: 3 x 2:1 and 1 x 3:1; ie 9 x $57; equates to a current sans-splits value of ~$513
Amazon: 2 x 2:1 and 1 x 3:1; ie 7 x $373; equates to a current sans-splits value of ~$2611

What more needs to be said to demonstrate the incompetence of eBay’s Johnny Ho?…

Well, I suppose I could mention the endemic, demonstrable, eBay-facilitated auction fraud … http://bit.ly/11F2eas

Since: Nov 13

Sydney, Australia

#2 Mar 21, 2014
News Flash: Johnny Ho was responsible for eBay acquiring PayPal!

Johnny Ho certainly has the eBay Dept of Spin working overtime to counteract Carl Icahn: yet another SEC filing …
http://investor.ebayinc.com/secfiling.cfm...

Love the pretty charts. But, what does the “smart money” on Wall Street really think about the progress of Johnny Ho’s delusion of converting eBay into the world’s “Westfield Mall” of online shopping? Well, in late 2007—when the Ho was already effectively in control of eBay—eBay’s and Amazon’s stock prices were both ~$40; now, with the US stock market at an all time high, eBay is still only ~$59 and Amazon is ~$370.

Ah, but what about all the stock splits, you say? Well, there has not been a stock split by either Amazon or eBay since 2005. But let’s then be fair and look at the value of both these entities since their IPOs, taking into account their stock splits:

eBay: 3 x 2:1 and 1 x 3:1; ie 9 x $59; equates to a current sans-splits value of ~$531
Amazon: 2 x 2:1 and 1 x 3:1; ie 7 x $370; equates to a current sans-splits value of ~$2590

And, in that notice to the SEC, one of the only three “What Others Are Saying” complimentary quotes that the eBay Dept of Spin had been able to find—to try lift Johnny Ho’s spirits—credits the Ho with being responsible for eBay acquiring “PreyPal”(shades of Scott Thompson’s CV). eBay acquired “PreyPal” in 2002, some years before the destructive Ho arrived on the scene. Such a fundamental error says a lot about the lack of professionalism of the people at eBay, particularly those in the eBay Dept of Spin …

The ugly reality of eBay Inc.:
eBay's crooked auctions marketplace ... http://bit.ly/11F2eas
eBay Motors (UK sampling): Auction Fraud Galore ... http://bit.ly/I2gTEU
eBay Motors XSS Redirect Scams in Action: video ... http://bit.ly/1d46NvE
Barclays Bank–eBay/Gumtree Motors Scams … http://bit.ly/1c9Uwck
eBay's clunky, unprincipled "PreyPal" ... http://bit.ly/UVXx53
The ongoing joke of eBay Inc.... http://bit.ly/YvxFEg
Fun quotes from the eBay executive suite ... http://bit.ly/12xvzyA

Since: Nov 13

Sydney, Australia

#6 Mar 22, 2014
eBay and Law Enforcement …

2009:“eBay and Law Enforcement Gather to Collaboratively Fight Online Crime”

http://www.reuters.com/article/2009/04/17/idU...

Too funny; and, of course, eBay’s own criminal activities, their active aiding and abetting of auction fraud on the consumers of the world, do not get a mention at this seminar …

“eBay/PayPal Global Law Enforcement Organization Mission: To promote trust and protect our businesses by partnering with internal stakeholders and working with law enforcement and regulatory organizations proactively and reactively to support the prevention, detection and prosecution of criminal activity on the eBay and PayPal platforms.”—Tod Cohen (2009)

[Now, pull the other leg,“Toddles”… http://bit.ly/11F2eas ]

Serial Numbers on eBay Listings …

In lieu of a dedicated “eBay Act” to try to control this most unscrupulous commercial entity, at the least there should be a statutory requirement, for groups of items that usually bear a serial number, that eBay have a searchable field for that required serial number, so that victims of theft could then have a greatly increased chance of recovering their stolen goods; why, it might even be possibly to improve the recovery rate to near 100%…

Of course, eBay would never voluntarily implement such a feature, it would disrupt much of their income stream from the sale of such stolen goods …

Since: Nov 13

Sydney, Australia

#7 Mar 22, 2014

“No Receipt? No Problem. Sell it on [Sleaz]eBay!”

http://cappnonymous.wordpress.com/2014/01/11/...

“As you can see, this is a recipe for disaster. The very first thing ebaY will want when a buyer complaint is filed will be proof of authenticity/purchase/acquisit ion for the items(s). But feel free to list all your fake designer and brand name widgets and gadgets. Ebay wants you to!…”—cappnonymous

“Sell your first 10 [stolen/fake] items for free.”

Another desperate “special offer”(and first ten items listed fee-free) from eBay inviting their fellow felons to hawk their stolen/fake goods for sale on eBay …

Yet another indication that things must be getting particularly desperate at the ’Bay … So, what’s new?…

Can’t you just picture those headless turkeys in the eBay executive suite, running around in circles, flapping their wings, bumping into each other, and coming up with such pathetic ideas as this …

eBay / PayPal / Donahoe: Dead Men Walking ... http://bit.ly/11F2eas

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