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Thu Oct 21 2010 16:10:23

Amazon.com Third-Quarter Sales Up 39 Percent

By: Ina Steiner

Sponsored Link

Amazon.com announced third-quarter earnings for 2010 today, its conference call with analysts is at 5:00 pm Eastern. The company's press release follows.

Amazon.com Announces Third Quarter Sales up 39% to $7.56 Billion
Amazon.com, Inc. (NASDAQ:AMZN) today announced financial results for its third quarter ended September 30, 2010.

Operating cash flow increased 16% to $2.62 billion for the trailing twelve months, compared with $2.25 billion for the trailing twelve months ended September 30, 2009. Free cash flow decreased 5% to $1.83 billion for the trailing twelve months, compared with $1.92 billion for the trailing twelve months ended September 30, 2009.

Common shares outstanding plus shares underlying stock-based awards totaled 465 million on September 30, 2010, compared with 451 million a year ago.

Net sales increased 39% to $7.56 billion in the third quarter, compared with $5.45 billion in third quarter 2009. Excluding the $83 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 40% compared with third quarter 2009.

Operating income increased 7% to $268 million in the third quarter, compared with $251 million in third quarter 2009. The unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $15 million.

Net income increased 16% to $231 million in the third quarter, or $0.51 per diluted share, compared with net income of $199 million, or $0.45 per diluted share, in third quarter 2009.

"Every year for the last 15 years we've worked to improve the things customers care about, and this year is no exception," said Jeff Bezos, founder and CEO of Amazon.com. "This holiday season we'll have the best prices, the biggest selection, the highest in-stock, and the fastest delivery in our history."

Highlights

    * Amazon began shipping a new Kindle that offers an electronic-ink screen with 50 percent better contrast, a 21 percent smaller body, a 15 percent lighter weight, 20 percent faster page turns, up to one-month of battery life with wireless off, double the storage, and built-in Wi-Fi - all for only $139. Kindle 3G adds free 3G wireless - no monthly bills or annual contracts - all for only $189.

    * The new generation Kindle devices are the fastest-selling Kindles of all time and the bestselling products on Amazon.com and Amazon.co.uk. More new generation Kindle devices were ordered in the first twelve weeks of availability than in the same time frame following any other Kindle launch. In addition, in the twelve weeks following the introduction of the new generation of Kindles, customers ordered more Kindle devices on Amazon.com and Amazon.co.uk than any other product.

    * The U.S. Kindle Store now has more than 720,000 books, including New Releases and 108 of 111 New York Times Best Sellers. Over 590,000 of these books are $9.99 or less, including 78 New York Times Best Sellers. Over 1.8 million free, out-of-copyright, pre-1923 books are also available to read on Kindle.

    * Amazon added to its growing list of Buy Once, Read Everywhere Kindle apps, announcing it will launch a Kindle App for the new BlackBerry PlayBook tablet computer. All Kindle apps let customers Buy Once, Read Everywhere - on Kindle, Kindle 3G, Kindle DX, iPad, iPod touch, iPhone, Mac, PC, BlackBerry, Android-based devices, and in the coming months the BlackBerry PlayBook. All Kindle apps are free and incorporate Amazon's Whispersync technology, which allows readers to seamlessly switch between devices. With Kindle Worry-Free Archive, books purchased from the Kindle Store are automatically backed up online in the Kindle library on Amazon where they can be re-downloaded wirelessly for free, anytime.

    * The popular Kindle for Android app was updated with a number of new features that allow customers to search the full text of Kindle books by voice or text, seamlessly look up words and phrases in Wikipedia, lock screen orientation in portrait or landscape mode, and view details about a book on Shelfari, the books-focused social networking site - all without leaving the app.

    * Amazon announced that it will launch "Kindle Singles" - compelling ideas expressed at their natural length. Kindle Singles, which can be twice the length of a New Yorker feature or as much as a few chapters of a typical book might be the perfect, natural length to lay out a single killer idea, well researched, well argued and well illustrated - whether it's a business lesson, a political point of view, a scientific argument, or a beautifully crafted essay on a current event. Kindle Singles will have their own section in the Kindle Store and be priced much lower than a typical book.

    * North America segment sales, representing the Company's U.S. and Canadian sites, were $4.13 billion, up 45% from third quarter 2009.

    * International segment sales, representing the Company's U.K., German, Japanese, French and Chinese sites, were $3.43 billion, up 32% from third quarter 2009. Excluding the unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, sales grew 35%.

    * Worldwide Media sales grew 14% to $3.35 billion. Excluding the unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, sales grew 15%.

    * Worldwide Electronics & Other General Merchandise sales grew 68% to $3.97 billion. Excluding the unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, sales grew 71%.

    * Amazon.com announced the launch of Amazon Mom - a new, free membership program that offers exclusive promotions and discounts available only to parents and caregivers. Customers who sign up for Amazon Mom can receive one year of Amazon Prime's Unlimited Free Two-Day Shipping on items ranging from baby bottles to video cameras, and 30 percent off select diapers and wipes with Subscribe & Save.

    * The Company introduced Amazon Student, offering college students Amazon Prime Unlimited Free Two-Day Shipping free for one year on textbooks and millions of other items.

    * The Company announced the Heidi Klum for New Balance collection, exclusively available at Amazon.com. The collection includes tunics, knits, woven tops, leggings and outerwear pieces, all created for active women and featuring high-end fabrics such as cashmere blends, cottons and silks.

    * Amazon Elastic Compute Cloud (EC2) and Amazon Relational Database Service (RDS) lowered On-Demand and Reserved Instance prices for their largest high-memory instances, making it even more cost efficient for developers to take advantage of Amazon Web Services (AWS).

    * AWS announced the launch of a free usage tier. Beginning November 1, new AWS customers will be able to run a free Amazon EC2 instance for a year, while also leveraging a new free usage tier for Amazon S3, Amazon Elastic Block Store, Amazon Elastic Load Balancer, and AWS data transfer. This will enable developers to launch new applications, broaden their AWS knowledge, or simply gain hands-on familiarity with the services - all while incurring no charges.

    * AWS announced that a wide selection of Oracle enterprise software, including Oracle E-Business Suite, PeopleSoft Enterprise, Siebel CRM, Oracle Fusion Middleware, Oracle Database, and Oracle Linux, has been certified to run on Amazon EC2, enabling customers who power their businesses with Oracle software to fully leverage the scalability, reliability, and utility-based pricing model of AWS.

Financial Guidance
The following forward-looking statements reflect Amazon.com's expectations as of October 21, 2010. Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates, changes in global economic conditions and consumer spending, world events, the rate of growth of the Internet and online commerce and the various factors detailed below.

Fourth Quarter 2010 Guidance

    * Net sales are expected to be between $12.0 billion and $13.3 billion, or to grow between 26% and 40% compared with fourth quarter 2009.

    * Operating income is expected to be between $360 million and $560 million, or between 24% decline and 18% growth compared with fourth quarter 2009.

    * This guidance includes approximately $140 million for stock-based compensation and amortization of intangible assets, and it assumes, among other things, that no additional business acquisitions or investments are concluded and that there are no further revisions to stock-based compensation estimates.

A conference call will be webcast live today at 2 p.m. PT/5 p.m. ET, and will be available for at least three months at www.amazon.com/ir. This call will contain forward-looking statements and other material information regarding the Company's financial and operating results.

These forward-looking statements are inherently difficult to predict. Actual results could differ materially for a variety of reasons, including, in addition to the factors discussed above, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of legal proceedings and claims, fulfillment center optimization, risks of inventory management, seasonality, the degree to which the Company enters into, maintains and develops commercial agreements, acquisitions and strategic transactions, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services and technologies, system interruptions, government regulation and taxation, payments and fraud. In addition, the current global economic climate amplifies many of these risks. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.

About Amazon.com
Amazon.com, Inc. (NASDAQ: AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth's Biggest Selection. Amazon.com, Inc. seeks to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers offer millions of unique new, refurbished and used items in categories such as Books; Movies, Music & Games; Digital Downloads; Electronics & Computers; Home & Garden; Toys, Kids & Baby; Grocery; Apparel, Shoes & Jewelry; Health & Beauty; Sports & Outdoors; and Tools, Auto & Industrial. Amazon Web Services provides Amazon's developer customers with access to in-the-cloud infrastructure services based on Amazon's own back-end technology platform, which developers can use to enable virtually any type of business. Kindle, Kindle 3G and Kindle DX are the revolutionary portable readers that wirelessly download books, magazines, newspapers, blogs and personal documents to a crisp, high-resolution electronic ink display that looks and reads like real paper. Kindle 3G and Kindle DX utilize the same 3G wireless technology as advanced cell phones, so users never need to hunt for a Wi-Fi hotspot. Kindle is the #1 bestselling product across the millions of items sold on Amazon.

Amazon and its affiliates operate websites, including www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.co.jp, www.amazon.fr, www.amazon.ca, and www.amazon.cn. As used herein, "Amazon.com," "we," "our" and similar terms include Amazon.com, Inc., and its subsidiaries, unless the context indicates otherwise.




Comments (27) | Permalink

Readers Comments

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: Moms for Meg
Web Site

Thu Oct 21 16:25:59 2010

Discounts for parents is a great idea.

eBay buyers should demand it.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: Betty G.

Thu Oct 21 16:26:11 2010

Wow! Congratulations Amazon and Amazon sellers!

No splitting of hairs going on there, eh?

The numbers speak for themselves.

Amazon is clearly doing something right and eBay is out of touch.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: Digby
Web Site

Thu Oct 21 16:32:15 2010

Gee I hope JD doesn't hear about that 39%

Yes it sure looks like Amazon know what they are doing increasing sales, while ebay are experimenting with search and sellers sales.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: Luxferro This user has validated their user name.

Thu Oct 21 16:54:01 2010

I believe we should all dig deeper into these numbers like we do on eBay.
1) 39% revenue increase, yet only 16% profit increase? eBay has 22% profit increase on 10% revenue increase (Skype impact excluded). Don't know about you, but profit is why I'm in business.
2) It's all about Kindle; can you count how many times Kindle is mentioned?? Is there a word, one word, about 3rd party sellers at all (us, the little people)?

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: RicRoe

Thu Oct 21 18:24:38 2010

Sales up 39%... How do they do it?

No system changes
No Policy Changes
No Search experiments or tests
Virtually no system glitches


Mr Donahoe are you paying attention? It is obvious you are  too busy mimicking Amazon to notice they are growing sales at phenomenal rates.

Amazon continues to drastically outperform eBay largely because they do not go on rampages to fix things that are not broken as JD has been doing since assuming the role of CEO.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: My Own Website Not Quite Paying My Bills Yet

Thu Oct 21 18:30:59 2010


You need to give Amazon more time to catch up to Ebay's profit. Just by comparing numbers here's what it looks like from the 3rd quarter from just 2 years ago:  

EBAY:
2008
Revenue-$2.1b   Net Income GAAP-$492m    Net Income Non-GAAP-$592m
2010:
Revenue-$2.2b   Net Income GAAP-$432m    Net Income Non-GAAP-$530M  

AMAZON:
2008:
Revenue-$4.26b Operating Income-$154m   Net Income-$118m
2010:
Revenue-$7.56b Operating Income-$268m   Net Income-$231m

I think the trend is obvious.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: buck efay

Thu Oct 21 19:09:52 2010

Dear Ebay stooge Lux:

The only thing that matters to sellers is traffic. Ebay has none. The only thing these reports do is reinforce where I should be focusing. Either a site that has been DEAD all year with statistically insignificant growth, or a site with 39% growth over a year ago?

A higher profit margin at Ebay? Gee wonder Why. They OWN NOTHING, Produce NOTHING & do NOTHING about fraud. They do NOTHING to earn any of our money.And without good buyers & sellers Ebay is NOTHING. NOTHING but another Communist Chinese junk seller.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: buck efay

Thu Oct 21 19:13:23 2010

Ps just had an almost $100 SNAD claim as a seller, which they DENIED after seeing the fraud trail, including, ironically, his Ebay ID which also had 0 feedback. Would things have gone differently with poopoopal? Damn straight, I'd be out $100+ shipping fees & the crook would have my goods, like the 2 times I got shafted by Ebaypal.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: buck efay

Thu Oct 21 19:15:15 2010

Oops, I meant A-Z guarantee claim on Amazon. Too bad the guy tried to change his story to non receipt, despite having sent me many messages thru Amazon's system:)

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: Tired of it all...

Thu Oct 21 20:15:24 2010

WTG Amazon! The disgruntled mass of eBay sellers are cheering you on (and now selling and buying on your site thanks to you know why).  This will propel even more eBay sellers to start listing on Amazon.  An upfront what you see if what you get kind of company vs eBay which is like reading the Rosetta Stone in brail with no fingers! Ebay sellers are just tired; tired of being treated like chit, tired of the paypal games, tired of paying huge upfront fees with no visibility, tired of losing money, stock to thieves, tired on the condescending never ending double speak... need I say more?

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

This user has validated their user name. by: Stockmiser

Fri Oct 22 06:16:56 2010

AMZN is going to fall hard at open today for missing their numbers. As usual, they are willing to sacrifice profits for volume because market dominance, at any cost, is their goal.

I certainly do NOT rejoice over Amazon's retail success - and make no doubt - they make most of their money doing direct retail business. They are the small retailers main competitor right now. In the online world, they are Walmart and we are the downtown mom and pop shops.

They make their money on LESS than 4% profit margin. So all they care about is volume.

Can your little (or big) at-home business operate on 4% profit? If not, it's online sites like Amazon that will bury you in the end.

Ebay is dying because they can't sustain themselves by relying on smaller retailers. But in the end, they need us. Amazon not only doesn't need us - at all - but would like to completely take over massive chunks of the online retail market for themselves.

We are being squeezed out of existence. Ebay will wither because of it...and Amazon will become king.

Mark my post and read it again in 2 years and tell me I was wrong.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: Rich

Fri Oct 22 10:36:24 2010

Many sellers quit Ebay and join Amazon.   Very few sellers quit Amazon and join Ebay.  Amazon grows and gains the small and mid sized sellers who also buy a lot.  Ebay loses the small and mid size sellers, who then stop buying on Ebay.  That's a factor that Ebay management continues to not understand

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: Buck Efay

Fri Oct 22 11:10:49 2010

Stockmiser, Ebay might need us, like a junkie needs crack. Too bad for them, all us Great ex powersellers are GONE FOREVER!
We don't need them anymore. See what Dummyho failed to understand, once you lose a customer, they rarely return. When a venue touts a carpppy seller with 500 negatives a month, and that seller predictably BURNS the buyer, the buyer DOES NOT RETURN & TELLS HIS FRIENDS EBAY SUCKS! That is why Ebay will NEVER EVER become a force in Ecommerce again. Do I wish things were different? Sure, but you can't turn back time. The fvenue is ruined & tainted. While selling at Amazon costs more & you compete with the venue, at least they have a HUGE amount of buying traffic, all qualified buyers with credit cards, not some unverified jackass with 15 0 feedback accounts & user info like "Bozo the Clown" "Terry Funk" and phone numbers even a child could program not to accept, like 1234567890. Why is it harder to register an account to comment on CNN then to create an account that can make legally binding bids on Ebay? Because Ebay profits GREATLY from Fraud.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: kw

Fri Oct 22 12:40:35 2010

Oh, puhleeze, no one NEEDS small sellers, and above all ebay.  Slice and dice the numbers however you like but Amazon is kicking ebay's butt.  I'm glad because ebay gets none of my dollars anymore and I love shopping on Amazon as well as dozens of other sites.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: Digby
Web Site

Fri Oct 22 13:14:49 2010

@Stockmiser
I agree with you.
I'm pleased to see Amazon show ebay how to do it, but Amazon are just as bad for small sellers.
This is what David Steiner said in a blog a while ago.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: StockmeiserItspostingtime

Fri Oct 22 14:59:14 2010

Stockmiser
Mark my post

Why Amazon Should Buy eBay
Tue Dec 18, 2007 9:30 am
Stockmiser
Nah...Amazon is the internet's best fixed price marketplace - which is where all the ecommerce growth will be over the next 5 years, while the online auction format will continue to proportionately diminish.

eBay Tops Cyber Monday, but Down from Last Year
Thu Dec 04, 2008 12:57 pm
Stockmiser
I think the really interesting part is how well the other retail sites are doing.

Ebay at about 10K
Amazon at about 9k

But...the 8 largest online stores had 22.6K combined. So more than twice as many visits than ebay or amazon - and almost 3K more than ebay and amazon combined.

A few years back I predicted that the #1 threat to ebay wasn't amazon - it was the walmarts of the world. Known brands that with minimal investment can almost instantly put their inventory online with a sophisticated webstore, and often backed by B&M for pickup and returns.

While online retail continues to expland, the auction model is quickly dying - regardless of what ebay does.

I believe that stat is that by 2010 online retail will account for 25% of all retail. By that point, ebay and amazon will be entirely irrelevant.

eBay hikes Fees!
Tue Jan 29, 2008 1:45 pm
Stockmiser
''Will buyers buy more because there's no more risk of retalitory FB? No way. Most casual buyers don't care about FB.''

''Will Buyer scammers and extortionists go wild now...yeah, I think they will.''

Ebay has just become a MUCH more dangerous venue for sellers.

''Agreed. This probably will be the final nail.''

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: BUCK EFAY!

Fri Oct 22 15:19:20 2010

Stockmiser just got told, LOL!!!!

For the record, I don't like either but will go where the sales are, and that SURE AIN'T ON EBAY!

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

by: ebay seller

Fri Oct 22 15:28:04 2010

Ebays turnaround plan is working flawlessly FOR AMAZON THAT IS !

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

This user has validated their user name. by: Philip Cohen
Web Site

Fri Oct 22 18:19:26 2010

The fact is if eBay did not have PayPal’s contribution to its revenue eBay would be in dire straits, notwithstanding that Donahoe has during his tenure reduced staff levels, exported jobs, and increased fees to the “lowest ever”! Indeed, the eBay Marketplaces are effectively going backwards relative to ecommerce in general and in particular its main competitor, “The River”, which flows on strongly, healthier than ever.

I understand that a commercial entity’s reason for being is to make a profit for its stockholders, and I wonder when eBay’s Board of Directors is going to share some of those profits with eBay’s stockholders seeing that eBay supposedly is making so much money but has as yet never paid its stockholders a dividend? The only people who seem to have taken a “dividend” out of eBay are its founders and its managing executives. Funny though, Donahoe is currently, every month, “dribble” selling his own stock holdings in the company: what message does that send to investors?

Frankly, I find even these reported relatively poor eBay Marketplace figures hard to believe; from what I see and hear, the eBay Marketplace is as “dead as the dodo” for both sellers and buyers. From where they are getting their reported revenue I cannot image and, of course, they don’t supply a lot of detail in this regard.

I have watched eBay very carefully over the past three years. In my humble opinion eBay is demonstrably the most devious, disingenuous, unscrupulous—indeed, again in my humble opinion, criminal—commercial entity on the planet. Their demonstrable effective facilitating of the rampant auction shill bidding wire fraud by unscrupulous sellers on unsuspecting buyers is an outrage. Conversely their latest effective facilitating of fraud by unscrupulous buyers on sellers is also an outrage: the eBay Dept of Spin calls it “eBay Buyer Protection”.

eBay and PayPal surely have become the two most despised commercial entities on the planet, even more so than “the banks”—and that has taken some doing.

John Donahoe is an fool who has never understood what eBay is/was and apparently still does not understand what its strengths are. Clearly, under Donahoe, the eBay Marketplace is going to continue its journey down the toilet. And just as clearly, without PayPal, eBay would now be submarine.

Then there is PayPal. What can be said about PayPal? From the merchants’ point of view, it is demonstrably the most unprofessional, clunky, payments processor on the planet. While the PayPal system is a great idea in theory, in practice it is fatally flawed by not having the direct underlying risk-managing and effective transactions-mediation support of the financial institutions that are ultimately involved in any transaction (as does Visa/Mastercard). Not having that support means that PayPal’s risk management is primitive in the extreme, and their transaction mediation is simply non existent which results in a hard-wired bias towards the buyer so that, like eBay now, they effectively facilitate wire fraud by unscrupulous buyers on sellers.

Any non-eBay merchant thinking of offering PayPal would be wise to first peruse the very many PayPal horror stories that abound on the internet …

Much of PayPal’s success can be attributed to its mandated use on eBay; as eBay atrophies, so, ultimately, will PayPal. Anyone that thinks that the clunky, unprofessional PayPal can survive in the long term on its own is, I believe, simply delusional; sooner or later, the likes of the bank-supported Visa/Mastercard operations will get their acts together and their professionalism will then very quickly torpedo PayPal.

I can no longer bother closely examining the competing revenue numbers from eBay and Amazon, it’s simply too embarrassing; suffice to say I notice that, again, the eBay Marketplace is reporting a dismal 1% increase while Amazon is up 39%! There should be some red faces at eBay, but apparently not; the Donahoe (already three year) “turnaround” is still proceeding apace—on down the toilet.

eBay/PayPal/Donahoe: Dead Men Walking.

Amazon.com Third-Quarter Sales Up 39 Percent   Amazon.com Third-Quarter Sales Up 39 Percent

This user has validated their user name. by: Ming the Merciless

Fri Oct 22 20:25:05 2010

Of the laundry list of strategic mistakes Meg Whitman made, the two that signaled the beginning of the end of ebay.com were continual, unjustified fee increases and the First Coming of stores in core.

The Ho is repeating history. He's already made ebay sellers non competitive with Amazon sellers with ebay's highest fees ever.

Instead of spending some that that offshore 5B and developing a powerful, long term marketing plan to attract new buyers or get the old ones back, The Ho's idea of growth is to further debilitate ebay sellers with still more fees for less visibility, less customer service, more selling expenses, more liability, and more criminal buyers.

The Ho has learned nothing from history.

As I and others have observed here in the past, inexperienced, vindictive little fascists run ebay.

There is no cohesive plan for anything. It's simply a bunch of 20 and 30 something self annointed little pigs frentically implementing something new every other day with no coordination, no communication, and certainly no consideration of consequences both intended and unintended.

This is a chaotic, undisciplined corporation, and their hat rabbits are about used up.

There is no logical reason why their stock should be above 20 at most.

I believe that there is insider trading going on, that ebay is engaging in questionable accounting and reporting practices, and that the corporation as a whole enforces many illegal and clearly criminal policies for the purpose of further enriching itself.

DEATH to ebay corp. in 2010.

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