Icahn wants eBay to spin off Paypal; eBay balks
Carl Icahn has taken a stake in Ebay Inc and is proposing a spin-off of the company's fast-growing PayPal division, but the e-commerce giant rebuffed the overture, setting the stage for a potential battle with the activist investor.
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Since: Nov 13
#1 Jan 22, 2014
Johnny Ho Inflates eBay Stock with Hot Air from Disclosure of Proposal from Carl Icahn
“Proposal from Carl Icahn — The company also announced today that it has received a notice from Carl Icahn indicating that he has nominated two of his employees to its Board of Directors and submitted a non-binding proposal for a spinoff of its PayPal business into a separate company. The notice stated that companies controlled by Mr. Icahn had, earlier this month, acquired shares and derivative securities that give him an economic interest of approximately 0.82% in the company.
“eBay welcomes the opportunity to listen to the perspective of all of its shareholders, including Mr. Icahn. His Board nominations will be passed on to the Board's Corporate Governance and Nominating Committee, which will consider them in the ordinary course of business. We would note that eBay has a world-class board of directors with directors who have significant experience in technology and financial services.
“Regarding Mr. Icahn's separation proposal, eBay's Board of Directors routinely assesses the company's strategic direction and has explored in depth a spinoff or separation of PayPal. eBay's Board of Directors has concluded that the company and its shareholders are best served by the current strategic direction of the company and does not believe that breaking up the company is the best way to maximize shareholder value. As part of eBay Inc., PayPal is able to leverage the company's technology capabilities, commerce platforms and relationships with retailers, brands and large merchants worldwide. Payment is part of commerce, and as part of eBay, PayPal drives commerce innovation in payments at global scale, creating value for consumers, merchants and shareholders.”
What a total non story! Still, the Ho had to figure out some way to some hot air into the moribund eBay stock. Separately corporatize “PreyPal”? Why not? Because effectively, as the Ho well knows, without eBay,“PreyPal” is finished, and without “PreyPal”, eBay is finished …
The ugly reality of eBay's clunky, unscrupulous "PreyPal" operation ... http://bit.ly/UVXx53
And then there is the massive, demonstrable, eBay-facilitated criminal activity on the eBay auctions marketplace …
The ugly reality of eBay eBay's crooked auctions marketplace ... http://bit.ly/11F2eas
The ugly reality of eBay Motors (UK sample): Auction Fraud Galore ... http://bit.ly/I2gTEU
The fact remains that if, in August 2007, before Johnny Ho started his active demolition work and when both eBay and Amazon stock was ~$40/share, had major “long” eBay shareholders instead put their funds into Amazon stock, they all would now be ~8x wealthier! Clearly, the Icahn investment/proposal does not alter the reality that the truly “smart money” on Wall Street knows that eBay is a “dog” and that Johnny Ho is a very poor dog handler—otherwise, like Amazon, eBay too would be valued at $400/share …
That the “Headless Ho” could give a tutorial to anyone about anything, particularly technology, is simply too funny; still, it seems that Johnny Ho and Icahn would make a good fit … both looking after themselves …
"Even though people think I'm an expert at technological innovation, my own instinct for technology was frozen in place in 1982." - John Donahoe (26 Sep 2007)...
[On the first part, who could possibly think that? On the second, a few of the only true words that Johnny Ho has ever spoken ...]
eBay / PayPal / Donahoe: Dead Men Walking ...
#2 Jan 24, 2014
Carl Icahn knows something. This is not just another money grab. This is a strategic “chess move” by Icahn because he sees what looms on the horizon for ebay (and it’s not good) and he sees the enormous future potential for PayPal. Whereas ebay is being propped up by PayPal, if nature is allowed to run its course, ebay will end up dragging PayPal down with it. Split them up while there is still time.
Since: Nov 13
#3 Jan 24, 2014
Hey, "Former", don't you just love the way the eBay shills watch this forum? Sad that their only reply is to hit the "spam" button; they have no better response, apparently ...
The ugly reality of eBay Inc.:
eBay's crooked auctions marketplace ... http://bit.ly/11F2eas
eBay Motors (UK): Auction Fraud Galore ... http://bit.ly/I2gTEU
eBay's clunky, unscrupulous "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
#4 Jan 25, 2014
Since: Nov 13
#6 Mar 23, 2014
U.S. DOJ Prosecution Policy Relating to … Wire Fraud
Now, if only the U.S. DOJ would take a leaf out of its own Manual at http://1.usa.gov/10KnLPN
“Serious consideration … should be given to the prosecution of any scheme which in its nature is directed to defrauding a class of persons, or the general public, with a substantial pattern of conduct.”
and prosecute eBay Inc for its demonstrable, calculated, aiding and abetting of massive “shill bidding” wire fraud on the consumers of the world (a “substantial pattern” of criminal conduct) by the great many unscrupulous commercial merchants that infest the eBay market place …
"Shill Bidding Fraud on eBay: Case Study #5" ... http://bit.ly/11F2eas
Regretfully, the trigger for action by these authorities appears to have something to do with the ratio of the size of the perpetrator to the victim: large corporation perpetrator, small victim(s):“ho hum”; small perpetrator(s), large corporation victim: full weight of the law …
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