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Leftfield

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  • Bloomberg: eBay hoping to sell Enterprise unit before split [View news story]
    Ebay management will try anything to isolate the carcass of the Ebay marketplace which has fallen hard thanks to years of CEO John Donahoe's disastrous anti small seller policies.

    This was completely unnecessary but S&P 1000 C suites have been given absolute license to do anything they want, perfume it and sell it at the Wall Street casino where the tailwind of ZIRP financed bubble wealth-effect valuations virtually guarantees lush success to all, even a business disaster like the Ebay marketplace whose premise is so basic, collecting fees from 3rd-party sellers online, it should be the simplest and easiest path to riches possible with the first mover advantages Ebay once had.
    Jun 16, 2015. 03:03 PM | 3 Likes Like |Link to Comment
  • My Thoughts On Dick Costolo's Resignation From Twitter [View article]
    Not sure how attempts to gang tackle a contributor due to his age reflects anything but a shortage of ideas and good standards of conduct.

    Alex Pitti is worth following because his ideas are provocative, worthy of consideration and mature. And, older readers can likely profit from the well-considered insights of a writer who may offer ideas, potential opportunities and fresh angles specifically because he can offer the well-considered viewpoint of someone who grew up amidst technology and developments with possibilities that can easily escape older investors.
    Jun 15, 2015. 08:02 AM | 2 Likes Like |Link to Comment
  • Ultimatum: Greece Given 24 Hours To Comply [View article]
    Monumental and metastasizing bad debts worldwide have to be extinguished if there is ever to be a recognizable recovery in the West again. For now, keeping the banksters posh and plump with no serious losses regardless their irresponsible lending and leverage has given the 1% a complete de facto control over Western politicians they have not enjoyed since the times feudalism prevailed.

    Which is exactly the probable outcome the formerly predominantly middle class "democracies" are now facing since the predations of a class of people who have no values other than personal self-aggrandizement, know no limits and thus they are pressing the recent advantages handed to them by clueless and corrupt Western politicians who handed them the keys to their sovereign taxpayer balance sheets to permit them to avoid taking necessary losses for their monstrous imprudence, as far as they are able.
    Jun 12, 2015. 11:33 AM | 3 Likes Like |Link to Comment
  • Down Almost 30%, Whole Foods Still Looks Expensive [View article]
    "At many locations I wouldn't be surprised if their prepared foods section accounts for a large percentage of profit."

    Most major grocery stores in my area have excellent and increasingly elaborate deli sections. These have not gone unnoticed as a profit opportunity by many players in the grocery business besides WFM, so competition there, just as in all aspects of WFM's business, is fierce and increasing.
    Jun 12, 2015. 10:32 AM | Likes Like |Link to Comment
  • Greek Court Suspends Gravity [View article]
    "The Greek pensioners, like pensioners the world over, simply want what they were legally promised by their government."

    Uh, sorry, no. As the article says, "you might as well suspend gravity" as keep up impossible pension promises that were phony schemes to buy votes now, placed on the backs of private productive citizens to be paid later.

    "Later" is now arriving and the dishonest ponzi schemes of government are coming home to roost, most obviously in Greece....for the moment. Monstrous bad debt and the stupid and dishonest promises it "backs" worldwide needs to be extinguished, not extended and pretended, before productive private entrepreneurs can have any hope of rekindling recognizable economic growth once again.

    The Western world is at the peak debt stage of it's multigenerational ponzi schemes and if the monumental and still-expanding bad debts and promises are to be "redeemed," Greece will have to do it in worthless drachmas, and others will have to devalue their own fiat scrip accordingly as well.
    Jun 12, 2015. 07:29 AM | 7 Likes Like |Link to Comment
  • Yahoo's Alibaba Failure [View article]
    Yahoo's metrics are mediocre since Mayer took over as CEO and it's stock price has been only a market performer despite the huge tailwind of Yahoo's sale of it's Alibaba stake yet her vast compensation is richly aided by the usual C-suite Wall Street yardstick that reflect the standards at Lake Wobegone: These people are ALL above the average of their peers.

    Excessive pay can be considered inversely correlated to understanding customers on Main Street, common sense in the real world and even ethics, since awarding that much money as an entitlement however detached from reality attracts a disproportionate share of the sharks who have successfully hijacked the American and world economies to financialize the interests of the 1% as never before.
    Jun 11, 2015. 10:25 AM | 1 Like Like |Link to Comment
  • eBay's Marketplace Business Looks Unappealing [View article]
    The same derelict management that exacerbated the negative effect of greater competition against first-mover Ebay in online commerce is set to do the same damage to Paypal. It is only logical to conclude that a CEO who has long delivered subpar and now negative results from the formerly preeminent Ebay marketplace is not capable of the inspiration it takes to move Paypal into a profitable future once the advantage of first mover status in online payments combined with millions of captive Ebay users disintegrates into a situation of competition against the most forward-looking and deep pocketed opponents on the planet.

    There is a huge difference between exploiting captive customers who have few options, and delivering excellent products and services at competitive rates in the most innovative areas in business when the most highly motivated, capable competitors on the planet are working overtime to offer better prices and services to not only lure the customers away but also to greatly expand the universe of potential users. Ebay management under CEO John Donahoe has amply demonstrated no competence against stiff competition.
    Jun 9, 2015. 07:26 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: HSBC Announces Drastic Restructuring [View article]
    "Does your city make either list?"

    Connecticut is a small state, but there it is with two cities in the top 10 worst list. No surprise if you live here. Illinois and New Jersey get more headlines as unionized overregulated tax hellholes because they are larger but now finally Connecticut gets the recognition it deserves for years of one-party control (eunuch free-spending "Republican" governors don't count).
    Jun 9, 2015. 08:45 AM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: HSBC Announces Drastic Restructuring [View article]
    "EBay shares fell close to 4% on Monday after it projected sales to grow at a lower rate than expected."

    Treat the customers (small sellers who were also their biggest buyers) as badly as CEO John Donahoe has and eventually it will extend to sales results and the stock price not unlike what former CEO Ron Johnson did to JCPenney.

    Last quarter sales actually declined. In Internet Commerce! In sparing no effort to make it's best customers come out losers, Ebay has suffered years of subpar growth and lost it's former online marketplace preeminence.

    GM tried it for decades. At least the airlines offer low fares and a bag of peanuts in exchange for packing coach fliers in cattle pens. But impose high prices, fees and execrable treatment of customers and the wheels eventually come off.
    Jun 9, 2015. 07:50 AM | 6 Likes Like |Link to Comment
  • Sears Holdings Valuation: The Transformation [View article]
    Sedric - Funny you should ask: We just received the wrong refrigerator and the electric stove had no power cord. Nobody had us we would need to buy a cord separately and it's not mentioned in the online order menu. To accept the refrigerator we got, which is posted online at $150 less than the one we ordered, we were offered a 10% discount on our next purchase or a rebate of $50.

    After talking to 3 representatives from Barbados or Guyana who recited the same company script, we got a supervisor from there who was willing to say the refrigerator we ordered which we wanted very specifically, is no longer manufactured rather than "not in the warehouse." This all took well over an hour, with most of the time spent on hold. And the refrigerator replacement we will get is listed at $200 more, so they called back shortly later to get our credit card information again. We impressed on them we hope not to be charged additionally, and a representative is supposed to call us back in the "next two days."

    Just normal business to them; no hint of an apology anywhere and Sears apparently makes up for cost of the customers who won't accept the wrong item on those who simply can't find the time and energy to fight this one more battle in lives increasingly taxed by never-ending disrespect and complications in their lives by large interests like Sears, other major corporations and the government, who clearly feel ever-more free to run rampant over hard-working ordinary Americans whose interests and quality of life as paying customers and taxpayers now counts for so little as to be a joke.
    Jun 9, 2015. 07:11 AM | 1 Like Like |Link to Comment
  • eBay Is Injured... Somehow [View article]
    TimeOnTarget - Precisely right, and you would have the agreement of Peter Lynch who gave a great deal of space and weight to importance of that very point in his classic landmark investment book, "One Up on Wall Street. He strongly emphasized the value of heeding personal experience with a company, writing this while heading the Magellan Fund, one of the largest and most successful mutual funds ever.

    How can it not be considered foolish to discount and dismiss so much strongly held reaction to an anti small-seller campaign that has clearly not produced results even close to internet commerce growth generally and has seen a once-preeminent Ebay marketplace fall to also-ran status? Is US major corporate management simply beyond questioning regardless the experiences of their customers, business associates and employees, until the day the stock tanks?
    Jun 8, 2015. 07:48 AM | 4 Likes Like |Link to Comment
  • eBay Enterprise Announces THE SHOP, an eBay Enterprise Agency, the First to Focus Entirely on Commerce [View article]
    Is it normal on SA to circulate unabridged commercials issued by corporate PR shills such as this puffery from Ebay?
    Jun 4, 2015. 07:23 AM | Likes Like |Link to Comment
  • eBay Is Injured... Somehow [View article]
    How many deserving stocks actually get taken out and shot in this Wall Street bubble? It is a rising QE tide that lifts virtually all boats.

    Former CEO Meg Whitman famously quipped that "A monkey could drive this train," but we got the lesser of those two choices, John Donahoe instead. His final chapter is not in yet, only the handwriting on the wall.
    Jun 3, 2015. 02:37 PM | 3 Likes Like |Link to Comment
  • eBay Is Injured... Somehow [View article]
    Sorry, Paladin306 -

    These commentators are actually living the nightmare, as an important source of income, or even their livlihoods get cut off by policies that are not only destructive to sellers on Ebay but are destroying the Ebay marketplace itself, and no amount of servile Wall Street and company spin can change the FACTS on the ground.
    Jun 3, 2015. 02:18 PM | 7 Likes Like |Link to Comment
  • eBay Is Injured... Somehow [View article]
    Ebay conducted a recent mass firing of employees as well as slashing ad spending, and prominently displays it's "streamlined returns process" which automatically refunds the purchase price plus shipping even if an item is returned damaged and with missing parts. Probably an empty box is sufficient.

    They are cutting costs and automating more pain for sellers in an even more short-term oriented quest to dress up their figures by any means necessary than usual, for the Wall Street stock split pageant with Paypal. These are desperate moves deemed necessary by the usual clueless management hacks to try to cover for online sales figures that continue to lag overall ecommerce growth quite badly as has long been the case at Ebay.
    Jun 3, 2015. 10:58 AM | 4 Likes Like |Link to Comment
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