The central argument of Meg Whitman's candidacy is her success in thecorporate world; since she has no experience whatsoever in public policy or governance.But the record shows that - on the whole - Whitman's business record is one of mediocrity and misconduct.
MEG WHITMAN AT E-BAYWhen she resigned as President/ C.E.O. in 2008, Whitman left e-Bay with“Sliding Revenue and Profit”, and an “Identity Crisis,” after “Missteps,”and “Mixed Results.”
“Ms. Whitman said she ‘couldn’t be prouder’ of her track record…. But in the pasttwo years, eBay has been mired in a pronounced slowdown in growth and apainful transition. Buyers have fled the online marketplace, which many say iscompromised by forgeries, disreputable sellers and an unpredictable buyingexperience, and the company’s stock has lost two-thirds of its value.”
– BradStone,
New York Times
, February 22, 2009
“Analysts widely see eBay as a company in need of reinvention as revenue fromits core auction business drops and as shoppers choose fixed-price online retailsites dominated by Amazon and other competitors. A May 2009 Wall StreetJournal story about eBay's ‘identity crisis’ noted that the company ‘has hadsliding revenue and profit in the past two quarters, while Amazon has reportedrecord earnings.’”
– Jack Chang,
Sacramento Bee
, January 10, 2010
“The Republican candidate has taken flak for some of eBay's perceivedmissteps, including its purchase of online phone service Skype and the roughly50 percent drop in eBay's stock since 2004. Whitman left the company last year.” –
Sacramento Bee’s
Capitol Alert, November 30, 2009
“Until she stepped down as CEO in 2008, Whitman tried to keep that momentumgoing by expanding to foreign markets and tirelessly seeking acquisitions – withmixed results. For example, eBay purchased such lucrative companies as themoney-transfer firm PayPal but also paid what many considered an inflated pricefor the online telephone company Skype without acquiring its underlyingtechnology. ‘They clearly made some decisions that in hindsight don't look sohot,’ said industry analyst Peter Zollman.... Whitman… may have fallen short byZollman's measure. Nearly two years after her resignation as CEO, eBay's futureis uncertain, with its stock price about 40 percent of its peak November 2004value.”
– Jack Chang,
Sacramento Bee
, January 10, 2010
California Accountability Project Debate Watching Guide2 of 31
WHITMAN SAYS:I was a great success in the business world. I'll run California like a business.
Whitman Camp Suggests She Was A Superstar at e-Bay, But e-Bay FolksAren’t Talking
“Most of Whitman's colleagues at eBay, however, have stayed mum about her tenure, and the company declined to speak to The Bee. Whitman's campaignalso refused a request to interview her. To date, her campaign has tightlycontrolled media access to the candidate. Others who wouldn't comment include:co-founder Omidyar; former technology leader Mike Wilson; former Chief Financial Officer Gary Bengier; and Bob Kagle, a general partner at the venturecapital firm Benchmark Capital, which was an early investor in eBay.”
– JackChang,
Sacramento Bee
, January 10, 2010Whitman’s Description of Her Tenure at e-Bay Doesn’t Square with Reality
“Whitman often describes eBay's halcyon early days in her campaign stumpspeech, although parts of her account clash with other descriptions of that time.Whitman has dramatized the company's growth by describing how when shearrived, she had to replace lawn chairs still being used by employees with realoffice furniture. Cohen's book, however, tells how Omidyar and Skoll had alreadyreplaced the lawn furniture at the end of 1997, at least a month before Whitman'sarrival.”
– Jack Chang,
Sacramento Bee
, January 10, 2010Whitman Claims She Wants to Help California’s Small Businesses, But asHead of e-Bay, She Hiked their Costs Repeatedly To Turn a Profit
“‘For a long period of time, eBay generated revenue growth by raising fees onsellers,’ said Scot Wingo, the founder of Channel Advisor, which helps smallbusinesses sell on the Internet. ‘Now everyone is starting to realize that wasunsustainable.’”
– Brad Stone,
New York Times
, February 22, 2009
“Sellers also complain that, under pressure to meet Wall Street expectations,eBay under Whitman repeatedly jacked up fees, driving off many sellers andmaking the site far less profitable for others.”
- Ken McLaughlin/ Pete Carey,San Jose Mercury News/
Contra Costa Times
, October 4, 2009Whitman Erected Burdensome Regulations at e-Bay
“Whitman certainly has her detractors, including many sellers who, ironically,complain that eBay during her reign erected a thicket of rules that were every bitas burdensome as the government regulations she now assails.”
- KenMcLaughlin/ Pete Carey,
San Jose Mercury News
/
Contra Costa Times
,October 4, 2009
California Accountability Project Debate Watching Guide3 of 31
WHITMAN SAYS:I was a great success in the business world. I'll run California like a business.
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