eBay boss tells workers to ignore 'noisy' Icahn's PayPal sale campaign eBay chief John Donahoe has warned employees to ignore Carl Icahn's "noise" about the board and the proposed spin-off of PayPal. Icahn has been engaged in a fierce campaign to convince the online bazaar to spin off the payments firm and has levelled allegations that the board isn't fit to make the decision, claiming conflicts …
Ebay buying Paypal was a rare example of a takeover actually having 'synergies': it worked for Ebay having a secure method of payment for customers that it could also levy fees on. So it is no surprise that an 'investor' demands that Ebay should sell off Paypal, presumably so that it can then spend the proceeds on a VOIP service or something equally insane.
His investment plans are always in the 'smash and grab' style of finance. He wants to make a quick buck, and doesn't care if the company fails after that. Long term investments? Pah. Who needs em?
Its a moronic method of working in any industry, especially online retail.
Unlike the other commentators I agree with Carl. Ebay clearly squandered its holding of Skype and the fact it was a board member that benefitted to the tune of $4B needs to be questioned as he has done.
Carl says of ebay that its the worst company he has ever seen and I agree. The incompetance goes well beyond the mis-handling of the Skype sale. The eBay product itself should be questioned and the move up market to professional sellers just puts them in competition with Amazon where they will not win. PayPal is a great company but it has not been handled properly by its parent. It could be in a dominant position now if it were not from its mis-management.
This guy reminds me of a holding company here in the UK. Some years ago they took control of a much loved High St retailer - a national chain. A few months later I saw a news item in the financials about how they had sold off the freeholds *to gain money for investment* - the retailer was sold (or floated I forget which) shortly afterwards.
Fast forward to the recent crash and this retailer went to the wall taking the jobs of many people with it because with the decline in sales they could no longer meet the rents on the premises they once owned freehold.
Icahn is just this sort of asset stripper, caring only for his own enrichment. People like him should be barred from holding shares where they can directly affect the lives of (potentially) thousands of employees to feed their greed.
Carl.. you worthless parasite..... get a proper job! Stop scavenging off of the backs of proper hard working people.
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