In his quest to force eBay to spin off Paypal, activist investor Carl Icahn has nominated two of his own employees to the companys board. He wants them to replace current board members Marc Andreessen and John Cook, and in an open letter to shareholders, Icahn ripped into the duo, accusing them of putting their own interests ahead of eBay and manipulating the companys decisions for personal gain. We have recently accumulated a significant position in eBay’s common stock because we believe there is great long-term value in the business. We have found ourselves in many troubling situations over the years, but the complete disregard for accountability at eBay is the most blatant we have ever seen.
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