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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (2217)	3/12/1999 11:19:00 PM
From: J. C. Dithers	Read Replies (1) \| Respond to of 7772

Tom, I do not believe that eBay is being investigated. I do believe that illegal transactions on eBay are being investigated. I'm sure that journalists have used the first wording, but do I need to say anything about their reliability? We had a case here the other day where an Oldsmobile dealer was found to have purchased (at auction!) a stolen vehicle with altered numbers and forged papers, and then to have resold it to a customer. Probably happens a lot, but no one is going to shut down this dealership or the industry. The standard in all these matters is one of "reasonable care" to prevent fraud and illegality. I'm sure this dealership will tighten its verifications, but crooks are smart and it will probably happen again. I don't disagree that eBay will also be motivated to think of new ways to tighten their controls and screening, and certainly there is room for improvement for them, as with any other business. I just don't think this is a big deal. Indeed, as I have said here before, having illegal transactions take place on eBay with a complete electronic paper trail of who's involved in them is a law enforcement dream come true ... the perfect sting operation. Signing off -- have a good evening.