Power Sellers Unite

Daikon · Joined: 08 Aug 2006 Posts: 949

Former eBay Inc. chief executive Meg Whitman plans to run for governor of California, a person with knowledge of her political aspirations said Monday.

The 52-year-old Republican plans to run in 2010 for the seat Gov. Arnold Schwarzenegger is leaving but is not ready to make a formal announcement, said the person, who was not authorized to talk publicly and spoke Monday on condition of anonymity.

Whitman made the decision while spending time with family over the holidays and will make the announcement official in four to six weeks, he said.

Henry Gomez, a spokesman for Whitman, said she stepped down from the boards of eBay, Procter & Gamble Co. and DreamWorks Animation SKG last week due to "personal reasons and time commitments." He would not elaborate.

The person who said Whitman is planning a gubernatorial run said her resignations are "a strong indication" that she wants to get clear of any commitments that might interfere with a run for political office.

In a statement, John Donahoe, eBay's president and chief executive, praised Whitman's tenure at the head of the online auctioneer.

"Meg's vision and leadership and her passion for the eBay community have helped create economic opportunity for millions of people worldwide and enabled us to build a dynamic portfolio of leading online businesses," he said. "Her experience and insights will be missed, but Meg will always be a part of the eBay family, and we wish her the very best."

Whitman retired in March after 10 years at the helm. A billionaire, she retains a 2 percent ownership stake in eBay.

more.. link to news article

wphamilton · Joined: 01 May 2005 Posts: 1940 Location: Georgia

Daikon wrote (View Post): › docWrite("quote")
Whitman retired in March after 10 years at the helm. A billionaire, she retains a 2 percent ownership stake in eBay.

I know it's picky but I don't think Whitman is still a billionaire. Her stock ownership stake (24 million shares) comes to about 360 million, and I think that much of that is in options with higher strike prices (worthless at current stock prices).

The billionaire status comes from 2007 when the stock was in the mid 30's. Or maybe she has some cash squirreled away.

brawash · Joined: 09 Jul 2008 Posts: 54

Let her run - then the world will know what is REALLY happening with ebay - our voices will be heard even louder -

skydragon · Joined: 02 Feb 2008 Posts: 670

Wouldn't it be nice if we could we all move to California long enough to be considered a resident so we can vote against her?

lakerswiz · Joined: 16 Apr 2008 Posts: 318

I never realized how ugly she was until I google'd her just now.

Anyways, I don't think she has a shot in hell.

dlrane · Joined: 03 Jul 2008 Posts: 2406

wphamilton wrote (View Post): › docWrite("quote")Daikon wrote (View Post): › docWrite("quote")
Whitman retired in March after 10 years at the helm. A billionaire, she retains a 2 percent ownership stake in eBay.

I know it's picky but I don't think Whitman is still a billionaire. Her stock ownership stake (24 million shares) comes to about 360 million, and I think that much of that is in options with higher strike prices (worthless at current stock prices).

The billionaire status comes from 2007 when the stock was in the mid 30's. Or maybe she has some cash squirreled away.

I think your right WP, and she is fixing to be a little bit poorer after her Gubernatorial Race, or will we be paying for most of that as well? :wink:

EbayDeb · Joined: 14 Feb 2008 Posts: 19 Location: SoCal

Ebay has left a bad taste in my mouth ...so whenever I read about Meg it just reminds me of Evil Ebay. I live in California hmmm....

Come on Voters... LETS MAKE SOME NOISE!

cohibastore.com · Joined: 14 Sep 2006 Posts: 4764

I've been watching idiots all over the country elect idiots for years. If they elect her they deserve what they get.

Just keep her out of PA. We've got our own idiots, they're just less damaging.

CS

hblt46 · Joined: 27 Jul 2007 Posts: 293

skydragon wrote (View Post): › docWrite("quote")
Wouldn't it be nice if we could we all move to California long enough to be considered a resident so we can vote against her?

I'll let you use my address!

hotandvintage · Joined: 09 Feb 2008 Posts: 1705

What does a Governor actually do?

I assumed it was a bit like a UK councillor, who spend their day trying to keep the bin men happy.

cohibastore.com · Joined: 14 Sep 2006 Posts: 4764

hotandvintage wrote (View Post): › docWrite("quote")What does a Governor actually do?

I assumed it was a bit like a UK councillor, who spend their day trying to keep the bin men happy.

Not sure how much responsibility UK councillor has but in a state like California its a huge job. Huge amounts of money, people, taxes, contracts, face time, press time. Obviously they don't do it all but they do have a larger responsibility for driving the direction the state is going.

California's annual budget is well over 100 billion dollars.

CS

teddyesther · Joined: 21 Feb 2008 Posts: 100

brawash, any chance that logo could be just a tad larger?

Protomodels · Joined: 05 Jun 2008 Posts: 24 Location: Florida,USA

Californians...Run for your lives!!! If she wins, you'll have to have good feedback to live there.If you don't have a 4.1 or better on your five stars,you'll have to move! And your rates will increase!

norabrabham · Joined: 03 Feb 2008 Posts: 1026

Why Meg Whitman Would Lose If She Runs For Governor
Tiny Comb -- Hand Picked Tech News
http://tinycomb.com/2009/01/05/meg-whitman-would-lose-if-she-runs-for-governor/

* Former eBay executive, Meg Whitman, is planning to run for governor of California in 2010. Whitman would be taking on two other highly touted Republican front-runners, Insurance Commissioner Steve Poizner and former Rep. Tom Campbell.

* What do we know about Whitman? Aside from making over $1 billion on her 2% stake in eBay, she has not fared well in popularity and success in the political scene. She most recently served as a national co-chair of McCain’s failed presidential campaign and previously had supported former Massachusetts Gov. Mitt Romney, who lost to McCain in the GOP primary. Whitman was a supporter of the highly controversial Proposition 8, the gay marriage ban that passed in November going against many of her fellow tech executive comrades who were against stripping basic civil rights. Aside from politics, business hasn’t been a safe haven for Whitman either. Last January, she decided to step down from eBay after several years of poor decisions made for the auction giant. Many of the Ten Reasons Why we believe eBay to be dead have to do with decisions made by Whitman. It was a love/hate relationship with loyal eBay users and sellers throughout the several years that she was in charge. She left as the stock price was falling, and since she has left, the company has been doing even worse.

* Other factors not in Meg’s corner include: California has not fared well under Schwarzenegger and Barack Obama won the state in the Presidential election by a near record 24 percentage points. Californians are not likely to be looking for another Republican candidate to run the state. If an when she decides to run, she will join Democrat Al Checchi and Republican Bill Simon as wealthy business people who failed in their bids for California governor.

wphamilton · Joined: 01 May 2005 Posts: 1940 Location: Georgia

A more immediate problem: Both Romney and Whitman are scheduled to speak today at a hearing focusing on economic recovery solutions that's being held by House Republicans. http://politicalticker.blogs.cnn.com/2009/01/15/romney-whitman-on-the-hill/

Why anyone would want Whitman's advice on economic recovery is beyond me. On the flip side, the fact that her vast fortune (she's lost the value of most of it btw) is mainly tied up in the stock of one company would seriously taint her opinion even if it otherwise had value. In fact you have to question the integrity of even addressing a hearing under those circumstances.