posted 04-25-2000 10:37 AM         

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Worth magazine ranked Meg Whitman #9 on its top CEOs list. Here's what they said:

"Of all the CEO's from our list last year, Meg Whitman makes the biggest jump, moving up from number 48. Last year, some questioned whether the relatively untested Whitman should have even made our list. Her performance over the past 12 months should establish her bona fides. She runs a high-profile, high-valuation, profitable dot-com, and she keeps having great ideas. Last year Whitman acquired venerable auction house Butterfield & Butterfield, establishing a bricks-and-mortar presence and gaining instant expertise in the high-end auction market. She launched regional versions of eBay to allow local buyers and sellers to more easily exchange cars and other big-ticket items that can't fit in a shipping carton. She acquired Billpoint, an electronic billing service that enables buyers and sellers to pay one another with credit cards. And eBay launched sites in the U.K., Germany, Australia, Canada, and Japan. Each is off to a roaring start. BOTTOM LINE: eBay is developing into a comprehensive supplier of retail goods, the same goal that Jeff Bezos asserts for Amazon. Difference is, Whitman makes money at it. TRUE STORY: When pressed to remember the last time she shopped in the bricks-and-mortar world, and for what, nothing comes to mind. WHAT'S NEXT: Look for Whitman to test how eBay's loyal, occasionally fanatical users like an online, nonauction, flat-priced electronics store. A direct attack on Amazon. THREE WORDS: Sly but straightforward. HEADACHE: Amazon, Yahoo, and other Internet powerhouses trying to crash the party with their own auction sites. CORPORATE GOAL: You want it, we got it. Even if it's really, really heavy. PERSONAL GOAL: Getting her 11-year old son to school on time every day. Whitman drives him herself. FINANCIAL REWARD: Barely a year into the job, Whitman cashed out $50 million of her stock. Call it a rainy day fund."

posted 04-03-2000 05:41 PM         

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I have to say that i am surprised and I'm not surprised at the way eBay's stock has soared and crashed in the past few weeks because of the Yahoo! rumor, which was finally put to bed as a NO.

I'm surprised because I would like to think that it would take more than just a juicy rumor to move a stock that much.

But I'm not surprised because I am still not a fan of Whitman and her management team. A professional and seasoned management team would have made sure that any rumor was controlled much more than it was. All a rumor like this does is burn a lot of people and turn off alot of current and future shareholders. If you believe that a company's main priority is the shareholder, than eBay has failed miserably. This kind of movement could easily have been held in check by controlling this rumor, yet it clearly wasn't.

Anyone know if any insiders gained from the stock peak?

posted 03-31-2000 06:24 PM         

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As reported in this board:

Online auction giant eBay said its brick-and-mortar auction unit, Butterfield & Butterfield, has received a grand jury subpoena from the U.S. DOJ antitrust division seeking documents about its practices. eBay fell 15% on the day. (source: Wired News)
http://wirednews.com/news/politics/0,1283,35342,00.html

posted 03-31-2000 12:07 PM         

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let me try that link again...

http://www.cnnfn.com/2000/03/30/news/wires/ebay_wg

posted 03-29-2000 12:09 PM         

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> The scam artists allegedly built up their reputations over time at the site, then defrauded buyers on several electronic equipment auctions all at once...

Up until now I thought eBay's feedback rating system was a pretty good way for people to know which other people are worth dealing with, but in light of this scam that might not be true.

posted 03-28-2000 05:09 PM         

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smario--

I agree completely on the spin issue, but what I am saying is that the rumor mill is obviously in full effect and if there is no rumbling...I believe if there were negotiations going on still, people would be hearing about. Now we are on the second day of silence...but, I could definitely be wrong on this front.

However, I think I miscommunicated the billing comments I read...I believe eBay's Billpoint and the Yahoo-aquired service are both online bill-payment services for consumers--not how Yahoo or eBay bill people for auctions or other goods. I assume that a merged company would not want to provide two competing online bill-paying services. That would just be stupid. Your telecom analogy is not a valid one in this case.

KG

posted 03-28-2000 08:51 AM         

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KeithG -

The best management teams of the world understand the power rumors can have especially on share prices (and on their shareholders), and they know how to manage these rumors so they don't get blown out of proportion. If there are talks going on, they won't lie about it, but they'll keep tight lips as well, so as not to create a volatile market situation.

With respect to the new billing platforms, one of the most difficult things to do during a merger is to integrate the customer service and billing platforms between the member companies. For great examples, look to telecom mergers - sometimes is just isn't practical to develop an entirely new billing system for the merged company...sometimes it is nearly impossible. And neither company wants to wait to upgrade, so I wouldn't take the similar moves as a sign that the merger talks are overblown. There may be other signs, but not this one.

posted 03-27-2000 05:10 PM         

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Very little news today, which leads me to believe that these rumors are overblown. Here is some more info I got from a thestreet.com article:

- Yahoo acquired an online payment company last week and eBay is launching its own Billpoint service--which would suggest that Yahoo was not planning on merging with eBay when it made that move.

- One analyst is thinking a marketing alliance is more likely (good call JHirsch) but eBay's preexisting deal with AOL could put a damper on how much Yahoo/eBay could do.

- And about those antitrust concerns? To put numbers on it, eBay had 91% of the postings, Yahoo 8%, and Amazon the leftover 1%.

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