Valley Buzz: Good News for Google Employees, eBay and IBM Shareholders, and Apple Fans Who Are Looking for Something to Watch Tonight

Let’s call this issue of Valley Buzz the comparatively good news edition. First up, news for Google employees: As of this morning at 6 a.m. the offering period to exchange any options that were priced higher than $308.57, the stock’s closing price on Friday, expired. The re-pricing program started on February 3, and the company says it will help Google retain top employees. You know, those ones who haven’t already gone to Facebook or retired on an island. But not all investors are so happy about the move. Trip Chowdhry of Global Equities Research, published a note on Friday warning investors that Google was “manipulating” the stock price to give employees a better deal.

For more a more sanguine view on Google, check out chief executive Eric Schmidt on The Charlie Rose Show, which might as well relocate to Silicon Valley to better accommodate its recent stream of guests like Marc Andreessen, Marisa Mayer, Evan Williams of Twitter and other valley luminaries. On the show, Schmidt talked up the role of mobile in Google’s future. He might want to read last Friday’s Valley Buzz...

On Wednesday, eBay is holding its annual shareholder meeting and Peter Burrows of BusinessWeek says the company is planning to share more details about its business than it has in years. Burrows says eBay CEO John Donohoe will especially talk up big plans for PayPal, the online payments company eBay scooped up for a steal, but did little to develop in ensuing years. Donohoe has said before PayPal could be bigger than eBay one day.

But Eric Savitz of Barrons points out that investors will be a tough crowd. Right now, they value eBay at just seven times 2009’s expected results. He cites some analysts’ top priorities to boost the company's stock, and number one is boost the value of PayPal through a strategic partnership with Google. It seems Donohoe isn’t the only one who sees unrealized value in the property. Also, everyone will be on the listen for any hints about what eBay plans to do with Skype, another acquisition with huge potential, but one that's never quite fit with the company.

That brings us to IBM, a company that’s downright rosy today. The New York Times wrote about chief executive, Sam Palmisano’s annual report, which went to shareholders today and trumpeted that “We will simply not ride out the storm. Rather, we will take a long-term view, and go on offense.” Such offense includes being the vendor of choice as countries and large corporations make investments in things like infrastructure projects, electrical grids, telecommunications and health care information systems. Will shareholders be as convinced? Leave us your thoughts in the comments.

And last in our feel-good edition of Valley Buzz today, Apple co-founder Steve “Woz” Wozniak will make his debut on Dancing with the Stars tonight. He told Wired that he was physically shaking the day he met his dance partner and expects statistically popular support (read: Apple fan boys) will get him through the first round. Woz, like many tech geniuses, was quite the mischievous hacker in his youth. No doubt a young Woz is working on hacking his results as we speak and as Woz warms up.