From: member to member,
Wenig was just winging it. After allegedly losing $60M in India crashing the company stock allegedly intimidating and placing sellers under duress with ridiculous constraints with regards to containing inventory treating the sellers merchandise as if it was their own. On their own volition with reference to last quarter report revealed eBay lost 5% of Merchandise Volume. If you do not think that this is NOT a big deal losing 5% of your territory you are mistaken as eBay is only a go-between the buyer and seller. The company's critical quantitative mechanics is merchandise brought to the market.
Algorithms shows nearing to every reporting cycle there is a slow-down in sales. Why? in order to contain inventory. The company must show continuity, viability to the shareholders it must emphasize active listings. However, the listings are only shown on the back-end. Just a couple days ago eBay tried to repel a similar claim. eBay then rely on realizing their cash flow so as to offset the non -captured revenue of back-end merchandise volume > Inventory. Allegedly enriching themselves from the seller's time and hard labor.
Don’t play a dirge for Wenig he is far better off than you. After cashing in sold 149,563 shares value @$41.49 of the company's stock September 4th he must have smelled his fate. "The chief executive officer now owns 1,034,592 shares in the company, valued at $42,925,222.08" last calculation as reported He should have sold all earlier > Currently Stock Down $38.78Sep 25, 1:01 PM EDT
Wenig , as a result of his incompetence and devious practices not to mention a big chatter box selling snake oil to the shareholders making false promises to sellers. He should not be paid one penny past his severance package when he is shown the door. Don't be surprised he lasted this long.
Foot Note > He should also be kicked off the Board Directors at GM
Reprisals welcomed thank you.
Acknowledgements :
ecommercebytes
eBay was forced to admit that a new policy that went into effect this month can result in listings getting zero visibility in search results, though it disputed the scale of the impact.
