Monday, December 18, 2006

More eBay China Rumors!

Take it for what it is worth. The rumors have been out there for months that eBay was going to sell its Eachnet business to Tom.com of Hong Kong. Now a disgruntled Eachnet worker has come forward to tell what is going on behind the scenes.

There is no way to validate this "employees" charges but it is interesting reading none-the-less. It is clear that eBay is making changes in their China Business but as for now there isn't any clear evidence what the strategy is going to be. Here is the memo from the alleged Eachnet employee.

Below you will see the first part of two press releases Ebay China puts out this week. I am sending this to you since you write about China and since you know China and since you should know the truth firstly.

EBay now abandons China and us, the loyal workers.

I am one of the many disgruntled Eachnet employee. I have suffered through the incompetence of Ebay leaders for many years. I admit I am greedy. I stay for money. But Ebay has screwed up our Company and in China.

Now that they abandon the market through partnership with Tom Online to be announced this week. The final draft of the press release headlines are below.

Not only are they being fooled, they are basically paying bribes to get the deal done. It is comedy and a travesty and should go down as the worst deal ever in Chinese history.

They have given Tom everything, and get nothing in return. They even have to "donate" millions of USD to Tom to get them to take the deal!

Everyone knows that Tom is controlled by a dragon lady named Solina Chou. What not all know is that Solina Chou recently invested in UMPay.
In order to get the deal done Solina tricks Ebay into making a huge investment into her crony-laden business, UMPay.
So, as part of the deal, Ebay's Paypal Company will invest $105 million into Umpay. This money will be used to buy out Solina Chou and other cronies including Winston Wen, son of Wen Jia Bao! Is this business or a bribe?

Meanwhile we employees suffer. We have to live through leaders who have failed us.

Since our founder Shao Yi Bo was pushed out by Ebay top management, we have had german, American, Taiwan and Hong Kong leadership: no real Chinese. No wonder we are beaten at every turn by Jack Ma team.

Ebay failed in China because it relies on one leader who did not understand the market at all: Meg Whitman. Meg Whitman is Ebay Mao Zedong. No one dare tell her the truth. She exports her cultural revolution and it dont work in China. She is clearly a smart lady but is a no-nothing about China, taken advantage of at all turns.

This deal will just put her down in history as China's worst businesswoman ever.

But its not just all her fault. Huge fault also lies with the USA born Chinese, Harvard MBA that work in Silicon Valley for her. Also the deal makers around her. They tell her what she wants to hear. They think they are smart. But at every turn they are robbed.

They did the deal with Eachnet on bad terms they fired our real leader Shao Yi Bo on bad terms they hired new people on Bad Terms

The only one who will laugh all the way to the bank is the Tom Dragon Lady.

Please see announcements below and I thank you for your help in telling the world about how we have been wronged.

I know everything on this deal and am happy to send you more.