Economy Blog

I was right. The issue in the Ebay vs Craiglist list — essentially Ebay suing itself — was a poison pill (among other things) instituted in clandestine fashion by the kids at Craiglist to protect themselves, as they saw it, from big, bad Ebay. See the details from the WSJ tonight: For instance, as an "inducement" to convince eBay to enter into a new "right of first refusal" agreement, Messrs. Newmark and Buckmaster authorized the issuance of one "reorganization share" in Craigslist for every five shares owned by a shareholder who agrees to the "right of first refusal" agreement, according to the complaint. …
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