Margaret (Meg) Whitman
“The Six Million Dollar Man” was so last century—the one to watch now is the $6 billion woman, Meg Whitman, 51, who turned a small Internet venture into a virtual juggernaut. When Whitman joined eBay in 1998, its revenues were about $4 million. She successfully parlayed her experience in consumer brands (where, among other things, she managed Mr. Potato Head for Hasbro) into the world’s largest e-commerce auction, one that provides a living for hundreds of thousands of people. She hasn’t done badly for the company either. eBay’s sales topped $6 billion in 2006, and 2007 figures are poised to better that.
Whitman’s legacy across the retail industry extends far beyond bidding-and-selling online. It includes the development of additional businesses under the eBay umbrella, including the retail portal shopping.com as well as PayPal, the pervasive alternative payments company that provides faster, more secure e-commerce transactions. Additionally, retailers of all stripes and sizes now leverage eBay’s success to dispose of excess inventories, and bricks-and-mortar service centers, such as Ship On Site, have emerged to cater to eBay participants.
Borders to offer free resolution workshops
ANN ARBOR, Mich. Borders said Thursday that it is offering customers free in store events throughout the month of January to help them kick start their new year’s resolutions and learn how to keep them through the year. Programs include wellness fairs, yoga classes and diet seminars.
Borders reported that local organizations and community groups will be featured in activities and events at its stores across the country ranging from fitness centers and hospitals to singles groups and retirement centers.
Schulze sells 440K shares of company stock
MINNEAPOLIS Best Buy chairman and founder Richard Schulze sold 440,000 shares of Best Buy stock last week valued at $22.4 million. Schulze sold the stock at prices ranging from $50.71 to $51.18 per share. Earlier this month, Schulze sold 2.35 million shares valued at more than $120 million.
While Schulze’s stock sales are considerable, they represent just a fraction of his holdings at Best Buy. He’s estimated to still hold more than 68 million shares of stock amassed during 41 years with the company.