ebay--y being paypal or buying paypal or ebay?> obviously paypal, that is> something that could work. amazon has a payments business it has not had much traction. i think that plays the whole idea. marketplace is not as bright. we have spoken to the market president of ebay over the past year. theceo of the new ebay once spinoff happens, we do have a quote from him. a listen to what he had to say. >> for us, the priorities have been russia, matt and -- latin america. all of the emergent markets are growing rapidly. it continues to be. domestic china will certainly be in the focus over the next few years. oute ali baba does move from china around the world, we will hopefully move from around the united states into western china. it will be very interesting. ebay or paypal? a pretty challenging job. i suggest it be flat over acquisition. that might be easier than it might look. , an early member of the paypal mafia. we do not have david yet. inegust heard from devon when the future ceo of ebay. what should be the first thing on his

we were going to war with ebay. ♪ >> [chanting "ebay"] >> ebay is one of the most successful companiesring its lifetime, it has grown faster than any company ever. it now runs a global online marketplace with $40 billion worth of cars, clothing, computers and anything else you can think of. ebay conducts more transactions every day than the nasdaq. it has more regular users that american express has cardholders. perhaps no company has created more opportunity for its customers. one reason why their loyalty runs deep. >> ebay looked invincible. founded by pierre, the company had grown from a small website of collectibles to the world's most valuable internet company. meg whitman, a harvard mba, had served at ceo for five years and became a media darling. ebay's global dominance appeared unstoppable. and meg whitman's ambitions seemed limitless. >> today, ebay is truly a global marketplace. there are now 147 million users around the world in over 150 countries. based on population, ebay would rank seventh on a list of the world's nations. we have a presence in 33 markets around the world

this will be much higher than ebay. >> by the way, one third of what was the overall ebay business.lso an attempt to go head to head with alibaba's alipay? >> absolutely. it was a third of the overall business, it but i would bet -- and we will get more stats throughout the morning -- i bet it was more than halve or maybe two-thirds of the growth. this is a threat investors see as light. they like to be diversified with a number of assets. -- investors do not need ceo's to diversify for them. they can diverse a fight on their own. they need to be accountable for one business with one core mission and one quarter brand and let the best assets go out in the marketplace and could be shareholder return they deserve. who are the biggest winners here? carl icahn because he will do a victory lap and then those who work specifically on paypal who will now get options on paypal stock. >> what does this mean about using off forecast because that is a big issue for not just ebay but all of these companies you go finding out a way to use this cash that they have built up overseas. >> they shoul

ebay's marketplace president will become the new ceo of ebay. american express executive dan shulman is ceo designate of the new paypal company. is this a good idea? my partner, emily chang, has been posing that very question to the original founders of the paypal mafia. let's see what they had to say. >> no matter what happens, whether they spin it out or keep it in, there has to be a very firm agreement between ebay and paypal. that is true. could paypal grow faster if it were not within ebay? maybe, maybe not. would it be valued differently by the market? would it have a better multiple? all of that stuff? i don't really care. having said that, i think about were spun off, you could motivate the management team to do more direct. they would be compensated. the on paypal's performance. balance, i would say spinning it out is not a terrible idea. paypal be spun off from ebay? >> i think there are very large synergies. maybe it is something they should consider in the future. i think ebay was right to resist carl icahn. we do not want them to be

was john donohue pushed out of ebay? >> ebay has made a lot of managers look really good.ck star when she left ebay. we will see what john donohue his career looks like after this. ebay has been a tremendous company. the way i think about ebay, i think of amazon as walmart and ebay the world of small business. it has been an enabler for people to start large and small businesses and use that as a plot for him. it is the anti-walmart and anti-amazon. no manager has been able to screw that up. when they take away the paypal aspect, someone will look at ebay and say that this is a good business and dominant in its world. >> you want to comment? >> i agree. they have the right people heading each separate segment at this time. it requires a specific skill set . they have the appropriate people in place. if you look back in time, john donohue did a great job of rebuilding the business to what it is today. happens, thepinoff focus will return to ebay's core business. does the new ceo need to do to differentiate ebay and make it stand out in an increasingly competitive e-commerce

and they finally surpassed ebay.ith money in the bank and confidence in future, we planned one last attack on ebay which we hoped would provide a knockout blow. wall street watching, we announced we would make taube out free for an additional year and called on ebay to follow our move. >> i'm still working on the release of taobao. i think ebay's earnings will be after the close, make sure it is posted. >> ok. and,'s stock dropped 5% in a knee-jerk reaction, henry gomez issued a response, arguing that free is not a business model. we released it in the u.s. yesterday. at 3:00 in the morning today. you may already came back with a response saying free is not a business model. based are saying they are much stronger because they can charge. i think we're much stronger because he can stay free. >> we can afford to be free, that's true. that's good. >> ok. >> that's great. that is exactly what we want. we want them to do things like that. that's good. they will regret what they said today. you have to prove the model and

ebay announcing it will separate ebay and paypal the businesses. american express executive dan shulman will be the new ceo for paypal, postseparation. he joins the company effective immediately. bloomberg intelligence paul sweeney joins us now from princeton new jersey. also with me as skycard is, the founder and former ceo of about.com. web 1.0 as we talked about earlier. want to turn to you first. you were building about.com at the same time yuan must was building -- elon musk was building paypal. you guys were all first generation. >> this deal makes sense. jobs growingt paypal. but we are high -- we're going to have a massive disruption. -- little card is not as productive as my iphone 6. we use braintree, which is an ebay company. it gives me pause. ebay wants to use our data. we run a market place, we were -- ebay runs a marketplace. it doesn't mean they are not seeing her data. >> they are processing your payment. >> they process the front end. we do double payment. we pay with another series of financial instruments. the financialthat indu

ebay decides to spin off paypal.money manager has accused the firm of atf manipulation, and hong kong prepares for a fifth day of former pimco money manager has accused the firm of etf manipulation. hong kong prepares for a fifth way of protests. i want to take a quick look at the markets. stocks paring earlier gains. the biggest drag on the market today is energy. the sector is down more than 1% with oil taking a big hit, suffering its biggest drop in over a year. crude oil

ebay announced two new ceos. paypal will be headed by an executive brought in by american express, ebay will promote from within. what about ebay's current ceo? john donahoe said he'll lead ebay through the transition and step down and go to the board of directors. before 2002, you general lly wre a check for your purchases and this will allow paypal to get out to the every day shops. this is the big money. apple announced apple pay a short time ago, the ability to pay with your phone. the stores, that's where the growth is. let's turn to courtney reagan live at cnbc headquarters this morning. good morning. >> good morning. when carl icahn got involved with paypal, he always believed it will create more value for investors to focus on its core business. they said we listen to carl icahn but we came to the same conclusions that he did but on our own. we'll see exactly how investors react today when the opening bell sounds. right now futures in general are higher but i'm sure this is going to be one of the big, if

devon winnic who runs at ebay will be the new ceo of ebay. the ceo of a newly independent paypal when that takes effect. as for donahoe, he's likely to be on the board of both companies but it's unclear what his future holds. i did ask him why that change and what he's going to be doing in the future. >> my most important responsibility going forward is having made this decision to separate over the next year to ensure that we set each business up for success and that these operating agreements get done in the right way. in addition we've got two great leadership teams. devon winnic has been the president of ebay for the last three years doing a great job and the right leader for that business going forward. and as you know we're also announcing today that dan schulman will be joining paypal initially as the president and then the ceo there after. and dan brings wonderful qualifications. he has a technology background. he understands mobile and he knows the payments industry. so i feel thrilled about both leaders as the right leaders for thes

ebay is over on the nasdaq.better than 7%, trading around $ $ we'll continue our coverage, billions and billions at stake here. >> that's a lot of money. thank you, scott. still ahead, a person living in the u.s. now undergoing tests for the deadly ebola virus. why this case has health officials concerned. naek nks . >>> you're watching "today in the bay." >> welcome back. this morning a dallas patient is being evaluated for possible exposure to ebola. presbyterian hospital isolated that patient because of concerns about symptoms and travel history. the patient's identity has not been released. preliminary results from the cbc are expected to come back today. the virus has already killed more than 3,000 people across west africa and infected a handful of americans who have traveled to that region. >> 6:41. an unusual end to a late-night search on the peninsula. >> plus an overnight shooting just blocks from city hall sends one man to the hospital. >> and breaking business news. ebay and paypal splitting up. scot

but not at ebay apparently. the on-line ebay auction says it plans to spin up its lucrative pay pal division into a separately traded company sometime last year. the announcement is a drama immigraic reversal f ebay would benefit from a split. investors lining up to take part and shares up 8%, lining up for what it means to ebay investors. >> ebay's corey e commerce payments will stand on their own, a move the company believes will make sense, ebay only accounts for 15% of the business. >> as we continue, looking forward to 3.5 years, we think the competitive position and the competitive environment of commerce and payments are going through accelerating change that creates new sets of opportunities and challenges for both ebay and pay pal, and that operating independently and separate will give ebay and pay pal focus, strategic flexibility, and an ability to move quickly and decisively in this changing environment. >> investors reacted positively to the plan sending shares going way up today, none more pleased

i think there was a big belief what ebay can be now that ebay and paypal split.n, third point, we are learning about today, taking a significant position, i am told from my sources in ebay. a new development in this ongoing story we'll continue to cover throughout the rest of the day. >> another happy shareholder. shares are surging moves to the highs up almost 7.5%. big names in this stock. thank you very much, scott walker. >>> a busy day on capitol hill. the secret service director is testifying before the house oversight and government reform committee in recent lapses of the agent's handling of security. eamon javers is in washington, d.c. >> coming under withering criticism from democrats and republicans in the wake of the september 19th incident in which a fence jumper was able to get into the white house. "the washington post" reporting last night the first time he got much farther than previously reported, into the east room and tackled by a secret service officer near the green room. julia pearson making her first public comments on all this. take a lis

how does ebay compare?re the best place to sell your phone in terms of maximizing your dollar. we have a simple selling flow and customers coming to ebay selling direct on our marketplace can make $100 to $300 more than you will get at a carrier today. when you combine that with the guarantee of selling your phone and take the price guidance, you've got the best offer out there. >> you say if it doesn't sell, you will give people $100? >> we have just launched this. it's called ebay for the win. now through october 24, if you list your phone on ebay and for some reason it does not sell, we will give you $100 gift certificate on ebay. >> i was online looking at my options through verizon and apple and the leasing programs. i have an iphone five. what can i get for this on ebay? >> sounds like it might be time to trade up. >> it's definitely time to trade up. >> a 32 gig coming from a carrier like verizon, you're probably looking at anywhere from $250 to $400 depending on the condition of the phone. comparati

if paypal does the right things i think ultimately they have a brighter future than ebay and ebay could make move this is's attractive, as well. this is a better separate company than put together as one. >> to david, implying that there could be -- maybe i misread what you said but, you know, with alibaba coming online here, they have a huge war chest, could they go after paypal at some point? would you think that would make sense for jack ma to look at paypal at this point, ross? >> absolutely. depending on the structure of the ownership after the spinoff, if i'm alibaba, i would look at ebay or paypal and considering the success of ali-pay and how important to separate that from the alibaba shareholders, i would think it's smart for them to buy ebay. >> do you agree, david? which would you rather have? >> in terms of looking at the two, i'll take paypal. as well as also having alibaba coming in more on the e-commerce activities outside of china. you know, relative to the comment about ali-pay earlier, the reason it was spun off in china supposedly because of the government's concern

of people felt that ebay was holding paypal back. they were not able to do deals and merchants like walmart am cx because they were threatened by ebay as being a competitor to them. this will open the market for paypal and allow them to go into merchants and really become something that you can use when you check out in stores. i think it is good for paypal. >> what does this mean for competitors in the money transfer business and those companies like these the and mastercard as well as western union? >> i think it will be interesting to see how all of this plays out. an amexthe selection of executive who has experience at at&t to be the new ceo of paypal is a little perplexing to me. to make it as innovative as possible, so would you not look for someone in silicon valley to run it? >> was there no one to run at? why did they bring in him from amex? >> there are lots of good executives all over. hiring isphy of the not as important as the history and the knowledge. technology in mobile phones, and the potential for fraud are really

we believe it's more valuable as part of the ebay. ebay and paypal is best together. positioning to win in commerce and payments, ebay and paypal have huge opportunities ahead of them. what do you make of it. >> i think the t they made the right decision and i agree this is going unlock value and give both the companies a fighting chance to be really important on their own. the biggest issue scott to me is that first of all paypal has not been looked at as an innovator in recent years even though they invented this game. and if you want to attract top talent and management developers you have to give up off that veneer in the valley. having their own stock to dole out is going to adopt great talent. and the guy going to run the stand alone business is an ex american express veteran. that's really positive. the only thing that's an issue is what kind of deal are they going secure with ebay for the long term. they get about 30% from the ebay marketplace and 50% of the profit soft paypal could be very strong but they have to lock that down and get aggressive as apple pay

i think a more focused ebay and an independent ebay will enable ebay to take iths own cash flow and not have it redeployed into another business but rather to take its own cash flow and focus it on its own growth, on its own m&a if appropriate, or buying its own stock back. so i think this sets the ebay business up to succeed as well as setting the pay pal business up to succeed going forward. >> what new opportunities if any does this open up for ebay? >> well, perhaps one of the most important new opportunities it gives ebay is control over its own destiny. when you're inside a portfolio and you're the lower growth business and you have the kind of cash flows that ebay has, often those cash flows get redeployed to other businesses. this allows ebay to take its own strong cash flow, its own strong operating margin and reinvest back in their own growth. >> focus, focus, focus of course seemed to be the watch word for why the company is now pursuing this strategy. something that its board decided on a number of months ago and is now implemented. it was mr. donahoe who defended why the co

it could be a multinotch downgrade for ebay. we're also watching s&p they placed an a credit rating on ebay and they said there could be negative implications there. very interesting on both sides. i have a feeling this is just the beginning. >> liz: it's interesting that carol still has the hot hand. if you follow what he does, you very often make money. we at the closing bell. live picture right now. swelling in size and scope as normally busy streets and roads are turned into a sea of umbrellas hence the name umbrella revolution, but this demonstration not like anything we've seen in the us nibbling new york city and wait until you hear why. adopt watch your favorite nfl team even if the game is sold out? no problem. regulator step in and end a 40 year old policy that many are saying was obsolete and unfair. we'll tell you what happens and what it could mean for the nfl and the broadcasters. maybe they should be using umbrellas. >> liz: hong kong's umbrella revolution gaining momentum. day two. earning that moniker from this.

first ebay announcing it will sell off paypal as its own company. we speak exclusively about the future of both companies and mobile payments, listen. >> paypal has the ability to provide a payments platform that can be used on the we said with merchants all over the world and on mobile devices. and those worlds have been relatively separate and distinct. with the way technology is evolving with the tokenization coming in and the mobile operators like apple coming in many technology ecosystems want to enable payments but don't necessarily want to get into the payments business themselves. and the unique opportunity we see for paypal is to power torques enab, to enable payments on many systems. >> a couple of the systems you mentioned like apple and visa. these happened recently. the board seemingly made up its mind about this split prior to that, did it not. >> sure. but they are just the early indicators of the kinds of changes we think will be happening over the next three to five years. the way mobile technology is evolving we think you will cont

of ebay deal. we'll tell you who the other suitors could be. plus -- ♪ >> despite it's break down this week, we'll tell you why some smart traders are betting big on a bullion bounce. >> and it's the hardest stock in the dow to short. >> takes a special kind of man to volunteer for a suicide mission. >> but two traders are up for the task and we'll tell you why. the action starts right now. >> time for the nasdaq market site. these are the traders here in times square and we're going to start with troubling news from the options pitts where there were huge bets on more market turbulence. one trader betting millions of dollars that they'll double by october. how concerned should you be about your money? let's get in and find out. and mike we've seen a creep higher in the bond market and we have a fed meeting. maybe this is not a surprise. >> credit spreads probably widened by about 30 basis points in under a week and a half. so that indicating some risk. let's think about what these actually mean. w

let's discuss the play on ebay. how do you people watching the show now make money on this if they want to make money on it. >> the key is to wait or you can just buy ebay right now. i love this proposal because ebay the marketplace is still profitable last quarter grew 12 percent. so the auction site is not dying. what i love though -- >> charles: would you own ebay once paypal was spun out of it. >> if i had to choose, i would go to paypal which had 39 percent increase in revenue growth and has the opportunity to move stronger. >> charles: if i was the manager of ebay i would have sold payp paypal. >> i mean, we're talking about this yesterday, but i think that would be a real -- that's a real targetphoria hoo. also for paypal. i met with some of the executives. i actually talked about someone although paypal they're trying to take market share from iwallet and google. they're trying to increase their numbers. they're making 1 billion dollars' worth of transactions. i think that's what they're trying to do. if i w

. >> ebay shoots down rumors it's in talks, fwoolg. but traders are betting on an e bay deal. who the other suitors could be. plus -- >> ♪ disco this is how we go baby ♪ >> despite the breakdown this week, why some smart traders are betting big on a bullion bounce. >>> and the hardest stock to short. >> takes a special kind of man to volunteer for a suicide mission. >> two of our traders are up for the task and well, teal you why. the action starts now. i'm maine lis so lee. these are the traders, and troubling news from the options picks, huge bets on market turbulence. one betting millions that the vick will double by october. lets get into the money right now and find out. and, mike, we have seen the market, and we have the fed meeting, maybe this is not a surprise. >> credit spreads have widened by 30 basis points in just under a week and a half. that obviously shows risk. let's look at the bets in the vix. the buyers of the october 22 calls. that is about, you know, 10 point increase from where the vix was today, maybe nine points. here's one way to think about that, one

this is ebay over the last year versus the nasdaq.en a massive underperformer, this is a company that is growing at double digits, they have double digit sales growth, it's a cheap stock and very well run company here. and obviously they have shareholders that want to see them unlock shareholder value. i bought the stock today to be honest. didn't do anything in the options market. why did i? what am i looking at here? >> google, these guys were rumored. if google is interested, microsoft has to be interested because they think about it. we're talking about what apple is doing, the big announcement with apple pay, they are going to be -- apple pay buttons in app and throughout the mobile web ultimately and these guys have to be a big player in the mobile web and what about facebook? this would could take a hard look at the pay pal asset. to me the story is not dead because of the one headline. i think it will have room to run. i like the underperformance given the back drop of the news. >> this is one of few stocks trading at the reas

let's get back to the ebay story. how big a threat is this to ebay in this paypal business to be perhaps taken over by apple. >> that is battleground, all of them trying to get a piece of the pie here. kayla is reporting right now at the barclays financial conference, there were comments about the idea of payment systems and saying they're excited about apple pay and opportunities for chase, also that apple pay on e-commerce and that the bank itself chase developing its own e-wallet in several months and just an idea everybody wants a piece of this. the idea that apple is partnering with certain payment to make it available and compatible with certain apps, certain vendors like a target. they highlighted that in the presentation. that's a big deal and remember it's all because this new payment security feature at the forefront for people shopping with these types of payment systems and not just traditional credit cards anymore but that extra layer, that fingerprint or the voice or the something that's going to make it

how similar to was this to amazon or ebay? are based on individual customers dealing with retailers. i am dealing with another business who is coming back to me with specifications and timing and schedules. in the same way you would do with someone if you were buying auto parts or computer motherboards. there is much more back and forth. you have to know what you're looking for is opposed to rising through a catalog and eating out something you like. >> does alibaba have something similar to amazon prime? >> the shipping costs almost as much as the pants themselves. it was $2000. $500 less than the cost of making the pants. >> can major businesses make up the albaba group, how would you describe the group? >> they took some of the best ideas of internet commerce whether it was payment ideas and put them all together into this chinese company. it has lots of pieces of all of those things. let's not forget the massive shipping component. they are similar to amazon, even ebay has their own. it fulfills the needs that are more --

even ebay has their own businesses and fulfillment businesses.fulfills a lot of the needs that are -- that a more robust post office may do. >> roughly 80% comes from the chinese consumer sites. how are they similar and different? it is similar where businesses and brands sell products to consumers. it is where individuals and small businesses sell their products to consumers. admiring your outfit. are those yellow pants from the website? >> they are not. they totally could be. him let me say that i think that for nine dollars a pair the gentleman that marks apparel at a very nice job. him i am a little fancier. >> the big question remains whether alibaba can be a global phenomenon. can alibaba complete -- alibaba compete with the likes of amazon >> so far their strategy has been to invest in the u.s.. they have been investing in businesses in silicon valley. they have open up a shop in san francisco to do those investments. him they haven't started moving into the u.s., trying to take over amazon. been their strategy and there is no indication t

i think this also might force ebay to spin it off faster. as much as piper said hey this is going to put pressure on them, i agree, i think it's going to put pressure on the board to perhaps agree with carl icon and spin it off, and that's the other one. carl icon is your canary in the coal mine, if he's getting out, you need to get out. the stock takes a 4 hit over a two day period. >> john, i think you're right, eventually they will spin or sell paypal. unfortunately they're going to have to go more pain before pushed to do that. i think if this was an icon six biggest position, it would already have a three or four handle. company's been able to grow the top line by 15%, and yet its been trapped in this 7 point range going back to the november of 2012. almost two years, 50 to 5 # $1 -- 50 to $51 is sport. it's laying down like a dead dog. >> 52 while we're talking. >> i think it's going to break below the support level. >> do people use their iphones with a paypal app to swipe it at -- >> i wasn't aware of that in my half of the debate wa

trying to take over amazon or take over ebay. that has not been their strategy and there is no indication that it will be. they are capitalizing on the different products in the u.s. to build their global brand. all right. thank you all. coming up, from english teacher to china's richest and]]] -- richest man, we have the story of charlie ma. >> welcome back to this special edition of bloomberg west. when it comes to ali baba or mothers one man synonymous with the company. just like steve jobs was to apple. , the founderack ma and chairman of ali baba group and now china's richest man. it is not quite a wreck to riches story but it's pretty close. his first job paid and $12 a month. now his net worth is to do $2 billion. so who exactly is jack ma? >> singing on a stage before thousands of employees, jack ma is not your average corporate chairman. he flunked his college entrance exam twice. he learned english, became an english teacher, and then left the classroom to ride the internet wave as china's economy opened in the 1990's.

he argued that it was a stronger subsidiary, and ebay bought it in 2002 and today ebay said that it would be advantageous to stay together for the companies. carl praised the move. and now he wants paypal to do a move or acquire other companies as the payment industry scol dates. ebay, by the way, they closed the day 8% higher. >>> coming up next, there are just over [ audio difficulties ] to it sometime soon. and though the unemployment rate has fallen sharply in the president's tenure, his rating is below -- which may be a boost for republicans. mike vick air a. it has been eight years, and people say it's going to be jobs, that's what it's all about. and i'm happy to hear that somebody is taking these elections seriously. >> what does that tell you, ali? it means that sometimes policymakers in washington, particularly on the political and fiscal side don't necessarily have the last word on how the economy goes. how many times in the last six years in the obama administration have we heard phrases like green shoots to the economy, that was years ago, and now the economy is doing demonst

can that core is downgrading ebay from a hold to a hold from a buy.e the operating environment for ebay remains challenging. we see limited stock upside in the near term. flip over to rbc. they are loving the split and the spin off unlocks value. we agree with the share price reaction and would expect further appreciation. other ratings agencies weighed in. moody's put ebay on the move for multinotch downgrade. it will be a smaller company next year. they're concerned about a weaker credit profile. s&p placed a a corporate credit rating on ebay with potential negative implications. so investors they loved it. it was crystal clear for them. the stock was up 7 1/2% today. liz? liz: good stuff. thank you, jo. david: thank you, jo. liz: country superstar garth brooks taking aim at apple, launching his own music service, ghost tunes. can you believe it? names like iggy, coldplay, shakira, already on board. in fact jumping on board. we've got the ceo joining us exclusively on taking on apple. david: meanwhile the war on coal has never been hotter but midter

check ebay, a different story.bay and its paypal unit splitting, two separate public companies next year. ebay upon that news. this is what carl icahn wanted from ebay. look at the share price from apple, china says it is after apple addresses security concerns. netflix will premiere a major motion picture. that would be a sequel to the crouching tiger hidden dragon hat. it will preserve the -- sat on netflix at the same time it appears on theaters, august of 2015. getting on netflix the same time you get in the theater. move. that is a real-estate web site. is a winner. why? nicole: you are seeing that soaring to multi-year highs, levels we have not seen since 2007. is up 37%. that is because rupert murdoch is moving forward to buy it at a 37% premium. this is roughly $950 million, an all cash deal. why would they do this? they have a lot of current offerings but this gives them access to digital media and digital offerings and analysts love it. they have several including move.com, realtor.com, moving the stock t

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. >>> a surprise announcement today from ebay. ebay and paypal are splitting up. after spending much of this year explaining why the two companies should stay together, ebay's board and ceo did an about-face today. ebay plans to spinoff its payment service into a publicly traded company next year. ebay says today the move is the best path for the company's growth. investors applauded the news, sending ebay shares up 8%. >>> you're going to get a look at the much-anticipated all-new f-150 pickup. ford is taking a huge gamble with this 2015 model. the body is made primarily of aluminum instead of steel. that makes the truck 700 pounds lighter and lighter means it's more fuel efficient. however, some skeptics wonder if aluminum will be strong enough to hold up to the it typical daily grind drivers put it through. ford insists this new model is up to the task. it arrives at the dealerships later this year. the f-150 is america's top-selling vehicle. >>> all right. slide over slurpee. 7-eleven is now offering up some healthier options. the convenience store chain is no

>> and who does that on ebay anyway? >> who, what? >> $100,000!> all right, bill, so, when you're not on ebay bidding for that receipt, what's going on in the weather world? or being flipped off -- you were telling us in the break -- >> the worst driver. >> someone in a hot convertible was mad at you. >> i got the bird yesterday. that guy was not happy with me. >> what did you do to deserve it? >> maybe an indicator didn't get used, maybe it did. i don't remember. >> you didn't use your arm signals? >> yeah, exactly. the cabo san lucas stuff, pretty bad down there. it didn't devastate the area. you'll be able to as a tourist go back in the coming months, but it's going to take a while to clean up. and we've still got a lot of american tourists trapped down there. they don't have any way out because the airport is still closed and you can't drive out because the roads to the north are still closed, too. so, the military's trying to clear things out and a lot of people have to just stay put until about thursday. they're hoping to get the airport ope

the ceo of the new ebay, they are going to promote to have a new ceo. the current ceo stepping down, moving on to the board of directors. >>> wall street loved the idea of a new paypal. investors are eager to get their hands on shares of that new independent paypal and they do that by buying ebay shares. trivia for you, paypal has traded on the stock market before for a short time in 2002, then was bought by ebay a few months later. that ipo and the purchase, made billionaires all over the valley. >>> microsoft planned an announcement in san francisco today to show off the successor of windows 8. well, very few people are talking about. not with the paypal announcement. i don't want this announcement to get lost, we understand they have contributed an enormous amount of money to help the immigrant children in southern california and texas. he, of course, one of the most generous men in california. he's donated $100 million in ucf children's hospital twice. the second time they named the hospital after him. >> i think the third time they make him an hono

the strategic focus and flexibility for ebay. the fcc is putting an end to blackouts, the policy of blocking out sporting events is outdated and unnecessary. and it's adopted to boost ticket sales in the 1970s. the local tv stations cannot air it. last year two games were blacked out. eagles by the way have not out. eagles by the way have not blacked out a game s a woman who loves to share her passions. grandma! mary has atrial fibrillation, an irregular heartbeat not caused by a heart valve problem. that puts her at a greater risk of stroke. rome? sure! before xarelto®, mary took warfarin, which required monthly trips to get her blood tested. but that's history. back to the museum? not this time! now that her doctor switched her to once-a-day xarelto®, mary can leave those monthly trips behind. domestic flight? not today! like warfarin, xarelto® is proven effective to reduce afib-related stroke risk. but xarelto® is the first and only once-a-day prescription blood thinner for patients with afib not caused by a heart valve proble

we'll get rid of ebay. facebook -- no, i can't make exceptions. said kinder morgan for salesforce, mark, i've got to do these kinds of things, and royal dutch for facebook. by the way, facebook very big position in my charitable trust, but diversification is key, and i need to drill it home, even if it means trimming back fogs that i like. that's just what's done. it's called discipline. "mad money" is after the break. [ bell rings ] hi michael! looking good! trying to keep up with you! i told my producer karen that i take metamucil because it helps me feel fuller between meals. it's just one small change that can help lead to good things. now she's breaking up with the vending machine. nope. i call that the meta effect. [ female announcer ] 4-in-1 multi-health metamucil now clinically proven to help you feel less hungry between meals. and promotes heart health. experience the meta effect with our new multi-health wellness line and see how one small change can lead to good things. >>> it's time for the lightning round. and then when the round is o

they are well-educated young tech savvy germans. 15 years ago, they did a take on ebay forcing ebay touy them out. then they did other startups imitating u.s. websites. sometimes they've been successful in getting them to buy their knockoffs and sometimes they built the business on their own kind of like what they did with the knockoff of zappos and became a stand-alone business. >> i first became aware of them in the groupon offering when they were shareholders and were responsible for a lot of groupon's growth. i wonder what you make of these guys. >> mostly despair. [laughter] i don't have a lot of patience for these geographic arms strategies predicated on fast knockoffs in new geographies. it is a pox on both businesses. it shows you how low the barrier to entry is but it also says there is an opportunity to knock it off quickly. you cannot continue to play that for long. developed markets become developed really quickly and the whole business of bringing in new geographies does not last very long. it's a phenomenon that has a very natural course that will run quite quickly and it

. >>> ebay announces plan to spin off pay pal. we'll tell you why and a major grocery store changes announces another data breach. >>> stock market is slipping between slight gains and losses. trading hals turned choppy part of the reason is lingering concerns. corporate profits and the global economy. the dow is down a fraction. nasdaq is down 3. s&p is down 2. >>> san jose-based ebay is parting ways with its pay pal division. the announcement was made early in morning. pay pal will become a publicly traded company sometime next year. he says the strategic review showed keeping pay pal as part of ebay beyond next year would not be as much of a business advantage as it has been in the past. there's been pressure to make pay pal a stand alone company. >>> there's another data breach. the company that owns albertson and supervalue stores said the problems started in august. that's when malicious software was installed on computers. the breach could affect shoppers in california and 20 other states. hackers may have taken cardholder

is not going to >> ebay is spinning off pay pal into an independent company. pay pal allows people to pay online with apple rolling out their own options and ebay says this is best for growth and shareholders. the deal will be finished middle of next year. >>> leyla gulen is doing everything this week. >>> it is all good. >> speaking of growing, the mercury is rising. it will be a scorcher by friday. let's talk weather. from san jose bureau camera, it is hazy. the sun is definitely out further to the north and that is where we are seeing the cloud cover and a look at live doppler hd where the clouds are continuing to push their way east and to the south but mostly it is starting to clear out. with we still have flight arrival delays at sfo at 45 minutes so that is less than what it was. current temperatures in san francisco are 81 and oak is 63 and 64 in san jose and half moon bay is 61. a look toward san francisco we have the marine layer that will burn off by midday and santa rosa is 52. petaluma is 66, and 66 currently in livermore and concord because of th

winners, ebay, cintas. >> the s&p is not down all that much.our heat map of the s&p the number of red stocks is way, way greater than the number of greens. so the volume is on the down side. that will do it for this edition of "power lunch." >> "street signs" after the break. from around the world come to cleveland clinic for care each year. and we're ready for you with a second opinion or a same-day appointment today today today and everyday. call today, for an appointment today. whoyour boss?rk for? yourself? your parents? your family? at baird, what matters most to you... matters most to us. as an employee owned firm, our financial advisors have the freedom and resources to realize a plan to fit your family's unique needs. we'll listen. we'll talk. we'll plan. baird. ♪ want to change the world? create things that help people. design safer cars. faster computers. smarter grids and smarter phones. think up new ways to produce energy. ♪ be an engineer. solve problems the world needs solved. what are you waiting for? changing the world is part o

that's according to aaa. >>> ebay now cutting ties with online payment service, papal. the online auction giant says creating a separate company makes financial sense. the move does not come as a huge surprise. wall street analysts have been urging ebay to make that move for some time and the company expects the change to be done by late 2015. >>> coming up on wusa9 news at 7:00, your only local news at 7:00, there's a confirmed case of ebola here in the u.s., but b could the hard hitting ebola outbreak be over in west africa? health officials suggest two countries are finally seeing pn >>> just getting home, here are some of the top stories of the day. two school shootings. one in kentucky, the other in north carolina. have parents on edge tonight. the shots were fired tuesday morning injuring one student at a louisville high school. the gunman in that incident is still out there somewhere. in north carolina, a student is recovering after being shot in the leg. their condition is unknown. another student was taken into custody immediately after that shooting. >>> some

maybe it is something ebay should incinerate some weight, but i think ebay was right to resist carl icahn do not want him to be did dating the way that should be done. but if it is spun off, who should be ceo? what is critical to operated not just as another business. >> someone from the paypal mafia? >> i don't want to name names, but there are people from there that could be good. >> there will be a full 30 minute interview with peter thiel coming up in october. it is an exciting time at apple, from the new iphone to apple watch, tim cook gave us some insight into apple's future next. ♪ >> you are watching "bloomberg west." i'm emily chang. pre-orders for the new iphone have grown, and records with apple receiving more than 4 million orders on the first day. apple ceo tim cook was on charlie rose to speak about the new product being unveiled. >> these are the best iphones we have ever done. i think you will agree, -- >> this is my iphone. look at the size of them. this is the iphone 6. >> is the best phone we've ever done. it is the thinnest we have ever done. the screen is just to die

tabao with marketplace similar to ebay. on t-mall, consumers buy directly from major international brands like versace and disney. its pay plan operates similar to paypal. they use more than three times the entire population of germany and founder jack ma has plans for expansion in the u.s. and europe but there are risk factors. alibaba is a chinese company registered in the cayman islands so it plays by different rules and its future is contingent on the chinese government allowing it to operate. the internet is highly regulated in china and some analysts believe alibaba's ownership structure does not adequately protect public investors. gerri, we have breaking news as we were telling you about alibaba we have a price. the shares are priced at $68 a share. that is the stop of the rancoredding to dow jones and it will open on the new york stock exchange under the symbol baba. they have raised $21.8 billion. the company is now valued at $168 billion. an astounding amount, gerri. gerri: jo ling, it is interesting. it is astou

a german startup has been cloning american companies like ebay and groupon. you can watch a streaming on your tablet, phone, bloomberg.com, apple tv, and it was on fire tv. ♪ i'm emily chang. this is "bloomberg west." john chen says blackberry is already planning a second generation of the passport smartphone after reception was better than he expected. the phone sold out, selling to a new thousand units in the first day of sales. revenue fell 42% in the second quarter. the loss narrowed to two and at $7 million. -- $207 million. i asked when they would become profitable. >> we would be profitable in fiscal year and 16. i'm still standing by that. depending on the receptivity of all these phones, and the classic coming out in about two months, our software releases in the next six months, i'm expected to see growth next year. with that, if i could get growth in the top line, i will be able to make it profitable sooner. likeen also said he would blackberry to return to the consumer market, but it is too soon to do so. is now doubling the target size of its ini

traded company expecting to complete the deal cutting ebay if half by middle of the next year. it generates half of the company's revenue. >>> apple is responding to charges that the tax agreement with ireland is illegal. the european commission disagrees believing that apple has avoided paying billions in corporate taxes because of the agreement and apple said they received no selective treatment and is subject to the same tax laws as other companies that do business in ireland. >>> if you look for a job for holidays head to the livermore premium outlets with 60 brand film stores taking part in a job fair filling more than 400 positions including store managers and assistant managers and associates and stockroom and custodian staff hiring full time and part time workers taking place at the livermore premium outlet from 10:00 a.m. to 3:00 p.m. bring your resume. be ready to interview on-the-spot. >>> the future of san francisco's famous flower mart could be the hands in voters. half the complex is slated to be sold and converted to technical office development but players for t