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Post by labbypaws on Sept 25, 2019 14:14:38 GMT
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kritter
Mod Squad
When we lose sight of how we treat animals, we tend to lose sight of our humanity
Posts: 19,901 
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Post by kritter on Sept 25, 2019 14:39:17 GMT
Uh oh, looks like ebay is going to bomb on their 3rd quarter earnings. Writing is on the wall 5 days before the quarter ends.
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Post by sunsetpainter on Sept 25, 2019 15:46:32 GMT
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Post by Pantlandia on Sept 25, 2019 15:55:10 GMT
I'm almost scared about who his replacement might be...they've gotten progressively worse  Honestly, eBay needs to be run by a committee of actual sellers. |
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Post by RetroMonde on Sept 25, 2019 16:20:21 GMT
I thought this was an APRIL FOOLS sorta post, lol!
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Post by Pantlandia on Sept 25, 2019 16:44:48 GMT
What a strange coincidence. I was reading a story and this ad appeared (see pic). Looks like eBay is hurting for buyers...Here's $5 to come shop again.  |
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Post by frakinfashion on Sept 25, 2019 17:23:04 GMT
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Post by frakinfashion on Sept 25, 2019 17:27:52 GMT
This is hopeful news. His management has been a disaster that is continuing to unfold. They should change the IT folks while they are at it. And stop mandating their bad ideas.
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Post by chapeaunoir on Sept 25, 2019 18:24:14 GMT
I'm almost scared about who his replacement might be...they've gotten progressively worse Honestly, eBay needs to be run by a committee of actual sellers. Or at least not an arrogant jackass who probably refuses course corrections no matter how vital they may be. |
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val2525
Chaos Manager
Posts: 30,783
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Post by val2525 on Sept 25, 2019 20:30:58 GMT
It has to be bad for them to dump him right as the 4th quarter/holiday season is starting.
OTOH, maybe this means no more site changes until January 2020. One can hope, anyway.
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Post by chapeaunoir on Sept 25, 2019 23:27:57 GMT
Including slowing the pressure on joining MP - bad time to do it, 4th quarter.
I think the future will be dictated by corporate raiders activist investors as much as anyone. I don't see the site being stripped and sold off, though, unless it's to a B&M that wants a pre-fab online marketplace, and I don't see that either. Amazon purchase would raise anti-trust issues, Jack Ma doesn't need it (unless the renegotiated UPU makes it better for Alibaba to expand into US warehousing), no one is going to 'step in'. I'm just hoping for a more streamlined, clear and coherent direction for eBay - the site has a lot of value.
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Post by mupcycledcouture on Sept 25, 2019 23:38:56 GMT
It is sad that it is to late. Ebay will never recover. They will sell off its money making ventures and then continue to turn this into the next Alibaba. TO many other options now. They ran off all their great sellers (and buyers) a few years ago.
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Post by somany on Sept 26, 2019 2:14:27 GMT
Including slowing the pressure on joining MP - bad time to do it, 4th quarter. I think the future will be dictated by corporate raiders activist investors as much as anyone. I don't see the site being stripped and sold off, though, unless it's to a B&M that wants a pre-fab online marketplace, and I don't see that either. Amazon purchase would raise anti-trust issues, Jack Ma doesn't need it (unless the renegotiated UPU makes it better for Alibaba to expand into US warehousing), no one is going to 'step in'. I'm just hoping for a more streamlined, clear and coherent direction for eBay - the site has a lot of value. The NY Times article says he stepped down because he’s not on the same page as other board members, and then it went on to mention the two new board members who were added to placate Wall Street earlier this year. Will be interesting to see how it all shakes out. |
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Post by chapeaunoir on Sept 26, 2019 5:29:18 GMT
Yes - he stated "MY board" lol - I found that choice of language interesting. It could be that they want a faster divestiture and Wenig wants to hang on, it could be that Elliott, etc., has pushed harder on getting rid of him for more competent leadership, which had been one of their big talking points. Maybe they want a leaner more focused marketplace as so many of us do and don't believe he can deliver. Maybe they realise that cannabalizing eBay by replacing a shrinking marketplace with promoted listings isn't going to fix anything. Sacking him on the eve of the 4th quarter with no replacement is telling though. I lost my faith in Wenig several years back although in the beginning I was quite willing to back him as bringing a new vision. I realise being CEO of eBay is a tough job, but I honestly think that like Doho he was promoted to his level of inompetency. His press releases are just so much corp-speak argle-bargle with nothing but a string of clichés - I can turn out that stuff by the boatload if paid by the line, it's all formulaic and doesn't mean much, and it has been some time since I've seen any clear direction or focus. Josh Silverman is bit of a patronizing prat and I don't agree with some of the things he's doing to Etsy, but at least he has a coherent vision, even if I don't share it.
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Post by chapeaunoir on Sept 26, 2019 5:31:36 GMT
Oh, and the posts on the sellers' forum are proliferating, including a portentously titled: Devin Wenig, eBay’s president and chief executive, has resigned today Sep 25, 2019. I guess not many go there to see if someone has already posted about it.
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Post by RetroMonde on Sept 26, 2019 15:14:59 GMT
After about a year I realized the Weinig was just Donahoe 2.0 and nothing was gonna change for the better as far as being a small seller was concerned. His one job was to make tons of dough for the corporate shareholders while keeping the board happy; we're really still just the noise. Not gonna miss his 'deer in the headlight' photo and sure hope the next CEO has more sense about actual eBay selling business and not just making money off of eBay.
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val2525
Chaos Manager
Posts: 30,783
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Post by val2525 on Sept 26, 2019 19:01:27 GMT
The NY Times article says he stepped down because he’s not on the same page as other board members, and then it went on to mention the two new board members who were added to placate Wall Street earlier this year. Will be interesting to see how it all shakes out. Crap. It's never a good thing when a company bows down to WTH Wall Street wants. |
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val2525
Chaos Manager
Posts: 30,783
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Post by val2525 on Sept 26, 2019 19:03:23 GMT
Yes - he stated "MY board" lol - I found that choice of language interesting. It could be that they want a faster divestiture and Wenig wants to hang on, it could be that Elliott, etc., has pushed harder on getting rid of him for more competent leadership, which had been one of their big talking points. Maybe they want a leaner more focused marketplace as so many of us do and don't believe he can deliver. Maybe they realise that cannabalizing eBay by replacing a shrinking marketplace with promoted listings isn't going to fix anything. Sacking him on the eve of the 4th quarter with no replacement is telling though. I lost my faith in Wenig several years back although in the beginning I was quite willing to back him as bringing a new vision. I realise being CEO of eBay is a tough job, but I honestly think that like Doho he was promoted to his level of inompetency. His press releases are just so much corp-speak argle-bargle with nothing but a string of clichés - I can turn out that stuff by the boatload if paid by the line, it's all formulaic and doesn't mean much, and it has been some time since I've seen any clear direction or focus. Josh Silverman is bit of a patronizing prat and I don't agree with some of the things he's doing to Etsy, but at least he has a coherent vision, even if I don't share it. I liked the white paper that Elliott presented. It summed up the issues with eBay quite well. There are some sharp folks in that company that seem to understand eCommerce. Maybe they'll have some input into the next choice of CEO. |
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Post by chapeaunoir on Sept 26, 2019 22:37:08 GMT
I agree - Elliott's white paper had a list of very good points, including citing a lack of focus, which I think has plagued eBay for years now - I know they have to be competitive and adopt competitive strategies, but their focus went no further than Amazon, which is why I had to laugh when Wenig stated they're not trying to copy Amazon, and people actually believed him in the face of staring evidence to the contrary. TBH, I feel like Wenig was getting a little delusional (judging from his interviews) and out of touch toward the end, and I suspect that it became a tug-o-war between him and the activist investors. I was actually not that surprised when he got sacked, but the timing WAS surprising. I figured it would be the usual "spending more time with his family" or "exploiting a new and exciting opportunity" where he gets turfed out for a replacement waiting in the wings.
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Post by betabutton on Sept 27, 2019 11:23:14 GMT
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Post by somany on Sept 27, 2019 14:03:04 GMT
"For eBay, it’s highly unlikely that spinning out smaller assets with slower growth will work out as well for investors as the PayPal move did. Instead, the focus — as it was for Wenig — should be on making eBay’s core marketplace better at what it does well: being the world’s largest garage and estate sale." |
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kritter
Mod Squad
When we lose sight of how we treat animals, we tend to lose sight of our humanity
Posts: 19,901
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Post by kritter on Sept 27, 2019 14:43:43 GMT
I don't think they know how to do that. So, instead they jack around with small stuff like changing the default button on a seller's shipping time.
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Post by Desire on Sept 28, 2019 19:25:07 GMT
Elliot Management sent them two warning letters this year. They nailed what's wrong with ebay, come right out and call it mismanagement.
III. Operational Improvements and Margin Expansion: Today eBay suffers from an inefficient organizational structure, wasteful spend and a misallocation of resources. By increasing operational efficiency, eBay can free up capital to invest in capability- and revenue-enhancing activities
ARTICLE: www.businesswire.com/news/home/20190122005513/en/Elliott-Management-Sends-Letter-Board-Directors-eBay |
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val2525
Chaos Manager
Posts: 30,783
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Post by val2525 on Sept 28, 2019 21:48:12 GMT
The link to the original letter Elliott submitted seems to be dead. If you can find a live link, read the full letter. Lots of dead-on observations and suggestions in it.
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Honestly, eBay needs to be run by a committee of actual sellers.
