Red Ink.. an interesting read on the new PP 30% Holding rule.

[*Yibida*]

Sorry I cut yer lunch dude !...LOL

[*smee*]

HI Ginar ,

[tellomon]

Sorry I cut yer lunch dude !...LOL

Snooz-ya-looz.

[*Ubbie Max*]

G'day Ginar, welcome aboard. you will have lots of fun here. There are also a lot of very wise members here with great analytical minds who will give advise where necessary.
 

I'm an advocate for keelhauling if anyone plays up lol.
 

[**cupie**]

Hi Ginar.....'G' is well respected here and extremely knowledgeable on this type of thing.....This whole issue smacks of predatory business practices, and just like the Paypal only period, Ebay/Paypal are just marching ahead without consultation or consideration.  It simply has to breach TPA when it comes to businesses being dominated in such a fashion via a one sided 'ever changing' UA' otherwise known as a 'contract'?

We're not just talking about ebay anymore, we're talking about E-Commerce generally.  Ginar, have you made any enquiries with ACCC as a company? or RBA?  I only ask because when a corporate entity makes these enquiries, ACCC tend to be more attentive, than if a consumer does.  

It also must be in the jurisdiction of the Payment Systems Board & RBA, because it will effect the entire E-commerce marketplace and all of its consumers and businesses.  Paypal is everywhere these days, so this is going to be the biggest cash grab we've ever witnessed surely ??.  Then consider how safe your information or 'withheld finances' are  in light of their UA?

Simple Question...Why don't our major banks get together and give us an Aussie Equivalent to Poopal, linked automatically to our existing bank accounts?...too easy?

[shyer]

Hi Ginar.. Welcome..        I do not like P$P never have, in answer to your quire I can not see how it will affect your dealings with Chinese suppliers. This new P$P money grab is only at receiver of money account/s . P$P is still trying to get market share in china and it will be years if ever in my opinion they will try this money grab in china so the problem may never surface.

I have a suspicion this money grab is more than just intrest free money to make intrest on. I suspect this money will be displayed as profits and reserves in the total eBay balance sheet to prop up the share price while senior managent sells off its stock options, they know how quickly they are sinking. With creative accounting and international different laws, in one country somewhere. P$P will be braking no laws when the bubble finally bursts.

[Ginar]

Thank you all so much for the warm welcome.

Cupie - haven't done anything yet, I just feel it may be a bit pointless at this time and am thinking the time to act will be when it happens.  At least being a company it may give us a little more clout than a registered business or sole trader. 

Shyer - I read somewhere during the week that they are also applying this to accounts that have not been used to accept money, wish I had noted the link. 

I also read somewhere that PP can not hold you to their UA if they have changed it and not asked you to agree to it, this was on a USA site (making mental note here to bookmark these links).  And because of this there is a possible class action pending in the USA regarding this reserve.

I feel that if it does come to the crunch that we will have a strong case here to get it thrown out especially after we all stood up to them last time and WON!!  We have had a merchant card facility with 2 different banks and never once have we been asked to put money in a reserve.

The other thing that concerns me is that this is going to create MAJOR problems with our chinese suppliers if they are hit with this reserve, I don't think they will fully understand and try and put the onus back on the buyer to recoup what is in reserve and this will cause delays.  If this happens we will need to move to TT which is a pain in the proverbial, as it is slow and cumbersome having to fill out the paperwork and send someone to the bank.

[da_ewok]

Sorry to butt in - but not only bookmark the page - but copy and paste entire page and the link and also use the wayback machine to 'bookmark' the page for you (which sometimes works and sometimes doesn't) but it takes 6 months to show up.

The copying and screenprints can be a VERY VALUABLE tool that is often overlooked - if the uRL is changed/page removed - you have nothing - that is why it is essential to copy/paste/screen print EVERYTHING

Just thought I would add some confusion to the muddy waters

[shyer]

Well I think I know what eBay is doing with the cash grab. Read this. My personal experience is from 1999 till 2006 90% of items I listed sold mainly lowish start auctions. 2006 to 2008 half auction half bin and fell in period down to 30% paid sales. Now nearly all Bin with a few high auction start price 10% paid sales so far this july to september. Nearly all buyers do not understand or are even aware of best mismatch, and ebay is unwilling to even mention the change.

I started to leave ebay when the P$P only push started but I soon found all my compeditors had left my niche. This time I think I will be forced to leave, and that ebay niche will disappear.

NEW YORK (Reuters) - eBay Inc may cut 1,500 jobs, according to an article in Barron’s weekly, citing a report published last week by investment-research firm Wedge Partners.
The Wedge report, according to Barron’s, said eBay’s business was “deteriorating” and the company was readying layoffs that could affect 10 percent of its 15,000 employees.
How does this relate to eBay burning billions of dollars buying back it’s own shares?
In 2008 eBay profit is roughly 2B and they have already spent 1B or more on eBay stock buy back in 2008 and have a plan to spend another billion by end of 2008. This will effectively wipe out their net revenues for the year.
They sure are not in a cash crunch, they will be just left with little less cash than they had in 2007 (little under 4 billion dollars) and their share price in the toilet inspite of those hefty stock repurchases.

Layoffs plus continued buy back in 4th Q would be a typical eBay’s disregard for their own employees. eBay management will rather layoff thousands of workers, just like they abuse their sellers and buyers while investing obscene amounts of money into attempts to prop up their eBay shares.
If they do layoffs, it looks like a PR move aimed purely at Wall Street… Time will tell.

In USA it is legal for companies to buy their own share Soooo... where will eBay spend the 1 billion in cash it will be holding in P$P next year? Buying its own shares is my guess as they have spent 2 billion in the last two years trying to prop up the share price and senior staff stock options now worth money.

[*CountessA*]

Shyer, that's an interesting speculation. It should be researched; if there's a real connection, it is reprehensible behaviour to use money that does not belong to PayPal (but which it "temporarily" appropriates) in order for eBay/PayPal to buy its own (eBay's) stock.

[shyer]

Countess I do not know why USA allows companies to buy their own stock as it is undemocratic and very unfair. One of the the worst example's is shareholders who only own 20% or less of any companies shares ,can force their way on to most boards and can soon effectively control that board . By using company funds to buy the companies shares and the board then controls those shares .

And it is untraceable for eg. P$P "invests" all held monies in Luxembourg/Nauru/Monaco/Nigeria/Fiji etc. bank blue sky (owned by eBay but "private " information) . Blue sky bank through various nominees and trusts buys eBay shares ( again private )

[*barny*]

The "internal" ownership of shares in your own company as described by Shyer ^^^ up there, can and does happen by proxy in Australia...

Remember the spagetti style share ownership in Adsteam and all their subsidiaries ???