I have been a long time ebay buyer, not a seller. Long term this company has a future-IF...they can solve these ridiculous and totally avoidable problems. The ebay community is the largest asset they have, and as some have discovered, they are fiercely loyal.
But...slowdowns and downtimes are not new, it's been going on since the beginning, but now they are high profile and will get zapped for it. For you non-technos out there...all businesses of any size use computers, and if this happened at those companies, even though their customers might never know about it, it's likely that heads would roll with a recurrent problem.
Meg appears to be a nice enough person, but she's never run a company of this size and her inexperience is showing, and costing the company. She honestly appears to be clueless and confused in here interviews, not a good sign.
During euphoric times like this market was for the past 2 years, anyone will buy anything at any price. But there will be selective bloodletting now, because everything always repeat, ALWAYS, gets back to making a real profit from an ongoing business. During bear markets, even great companies with heavy profits take severe tumbles.
Bottom line here is 2 weeks ago for the first and only time in my life, I shorted a stock, ebay. I'm not proud of it, but it's not hard to figure out. The market excess here is obvious.
Meg should lose her job, money should be massively spent on a complete system overhaul, the ebay faithful will stay or come back, and this will be a wonderful little niche company, but it won't be at anything close to a 10 billion dollar market cap. For you longs who saw a 200 price not so long ago, sit down and do profit projections on a per share basis, then tell me you're getting this company at a discount. At 50 cents a share (which is a long way off, especially in the short run) this company is worth $20 to $30 a share, and that's assuming a bunch of right things happen for them. Take profits, protect against losses. Do what ya gotta do, but avoid a nondiversified doendraft like eBay.