– AAA+++, Great Ebay Synergies, Tremendous PayPal Shareholder Value; Over Three Thousand Layoffs (ZeroHedge, Dec 10, 2014):
Throughout the summer, one of the biggest activist stories, therefore one naturally involving Carl Ichan, was whether eBay would spin off PayPal. And sure enough, following months of promises and vows by John Donohoe that the company would never split, on September 30, around the time the market started hitting one record high after another, the company announced it would do precisely the opposite and all those activist demands would be fulfilled (and that John Donohoe would be handsomely compensated for his lies, especially since he would have no role in the resulting company).
So when the press release hit, some were wondering just what do the following buzzwords mean:
- Maximizes strategic focus and flexibility for eBay and PayPal to capitalize on respective growth opportunities in highly competitive, rapidly changing global commerce and payments markets
- Preserves eBay and PayPal relationships through arm’s length operating agreements
- Provides shareholders with more targeted investment opportunities; best path to sustainable shareholder value
Followed by even more confusing corporate buzz speak: Continue reading »