Unusual sale items at eBay

eBay Inc. is an American Internet company that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide. A majority of the sales take place through a set-time auction format, but subsequent methods include a substantial segment of listings in the "Buy It Now" category. In addition to its original U.S. website, eBay has established localized websites in thirty other countries. eBay Inc. also owns PayPal, Skype, StubHub, Kijiji, and other businesses.

Unusual sale items at eBay :

• In May 2006, the remains of U.S. Fort Montgomery, a stone fortification in upstate New York built in 1844, were put up for auction on eBay. The first auction ended on June 5, 2006, with a winning bid of $5,000,310. However, the sale was not completed, and the fort and lands surrounding it remain for sale and have been relisted on the site several times since.
• In February 2004, a scrapped F/A-18 Hornet fighter jet was listed on eBay by Mike Landa, of Landa and Associates, with a starting bid of $1,000,000. He was the legal owner of the plane after purchasing it from a scrap yard and also offered to have the plane restored for flying condition for a Buy It Now price of $9,000,000. Landa also told potential buyers that maintenance of the plane would cost roughly $40,000 a month for just 2 to 3 hours of flying time. The FBI told Landa that he could only sell the plane to an American citizen residing in the United States, and that the plane must not leave US airspace. The auction ended without a sale.
• In December 2005, a brussels sprout cooked on Christmas Day was listed by "crazypavingpreacher" (Andrew Henderson of Darlington, England). It sold for £99.50 on 4 January 2006. The sprout had been frozen and was sent by first class post in insulated packaging to the buyer, "5077phil". The listing was reported in the Daily Star, making the front page (and was followed by a series of "copycat" listings of various vegetables). The proceeds of the sale were donated to Tearfund, a major Christian relief and development agency working in the third world. This sprout was the first cooked brussels sprout to be sold on ebay.
• In January 2006, a British man named Leigh Knight sold an unwanted brussels sprout left over from his Christmas dinner for £1550 in aid of cancer research.
• In May 2006, a Chinese businessman named Zhang Cheng bought a former Czech Air Force MIG-21 fighter jet from a seller in the United States for $24,730. The seller, "inkgirle", refused to ship it. It is not known whether he was refunded.
• In June 2005, the wife of Tim Shaw, a British radio DJ on Kerrang! 105.2, sold Tim's Lotus Esprit sports car with a Buy It Now price of 50 pence after she heard him flirting with model Jodie Marsh on air. The car was sold within 5 minutes, and it was requested that the buyer pick it up the same day.
• In May 2005, a Volkswagen Golf that had previously been registered to Joseph Ratzinger (then a cardinal, who had since been elected pope and chose the regnal name Benedict XVI on April 19, 2005) was sold on eBay's German site for €188,938.88 ($277,171.12 USD). The winning bid was made by the GoldenPalace.com online casino, known for their outrageous eBay purchases.
• A seaworthy 16,000-ton aircraft carrier, formerly the British HMS Vengeance, was listed early in 2004. The auction was removed when eBay determined that the vessel qualified as ordnance, even though all weapons systems had been removed.
• Water that was said to have been left in a cup Elvis Presley once drank from was sold for $455. The few tablespoons came from a plastic cup Presley sipped at a concert in North Carolina in 1977.
• A Coventry University student got £1.20 for a single cornflake.
• A man from Brisbane, Australia, attempted to sell New Zealand at a starting price of $0.01AUD. The price had risen to $3,000 before eBay closed the auction.
• An Australian newspaper reported in December 2004 that a single piece of the Kellogg's breakfast cereal Nutri-Grain sold on eBay for AUD$1,035 because it happened to bear a slight resemblance to the character E.T. from the Steven Spielberg movie. Apparently the seller went on to make even more money in relation to the sale for his appearance on a nationally televised current affairs program.
• One of the tunnel boring machines involved in the construction of the Channel Tunnel was auctioned on eBay in 2004.
• A group of four men from Australia auctioned themselves to spend the weekend with the promise of "beers, snacks, good conversation and a hell of a lot of laughs" for AU$1,300
• Disney sold a retired Monorail Red (Mark IV Monorail) for $20,000
• The German Language Association sold the German language to call attention to the growing influence of Pidgin English in modern German.
• In late November 2005, the original Hollywood Sign was sold on eBay for $450,400.
• In February 2007, after Britney Spears shaved all of her hair off in a Los Angeles salon, it was listed on eBay for $1million USD before it was taken down.
• In September 2004, the Indiana Firebirds arena football team was auctioned off, first in a regular auction that failed to reach the reserve price, and again as a "Buy it Now" item for $3.9 million.
• Bridgeville, California (pop. 25) was the first town to be sold on eBay in 2002, and has been up for sale 3 times since.
• In April 2005, American entrepreneur Matt Rouse sold the right to choose a new middle name for him. After receiving an $8,000 "Buy It Now" bid, the Utah courts refused to allow the name change. He currently still has his original middle name "Jean".
• In 2004, a partially eaten, 10-year-old grilled cheese sandwich said to bear the image of the Virgin Mary sold on eBay for $28,000.
• In January 2008, four golf balls were auctioned on eBay after being surgically removed from the carpet python which had inadvertently swallowed them whilst raiding eggs in a chicken enclosure. The story attracted considerable international attention and the balls eventually sold for more AUD$1,400. The python recovered and was released.
• In May 2008, Paul Osborn of the UK listed his wife Sharon for sale on eBay, alleging that she had an affair with a coworker.
• In June 2008, Ian Usher put up his "entire life" on auction. The auction included his house in Perth, belongings, introduction to his friends, and a trial at his job.^[105] When bidding closed, his "life" sold for $384,000.
• In August 2008, Dr Richard Harrington, Vice President of the UK Royal Entomological Society, announced that a fossilized aphid he bought for £20 from a seller in Lithuania, was a previously unknown species. It has been named Mindarus harringtoni after Dr Harrington. He had wanted to name it Mindarus ebayi, but this name was disallowed as being too flippant. The 45-million-year-old aphid, preserved in a piece of Baltic amber, is now housed in the Natural History Museum in London.
• In October 2008, amidst the 2008–2009 Icelandic financial crisis one seller had put up Iceland for sale. Auction started with 99 pence but had reached 10 million pounds (US $17.28 million). However, singer Björk was "not included" in the sale. The notice read Located in the mid-Atlantic ridge in the North Atlantic Ocean, Iceland will provide the winning bidder with — a habitable environment, Icelandic Horses and admittedly a somewhat sketchy financial situation. Bidders' questions included: "Do you offer volcano/earthquake insurance?"
• In November 2008, a Swedish man put a digitally hand-drawn picture of a 7-legged spider onto eBay. The picture stemmed from the email of an Adelaide man, David Thorne, who owed a utility company $233.95. Instead of paying the money back, he drew them a picture of a 7-legged spider, which he valued at $233.95. On eBay, the bidding price started at $233.95, and it was finally sold at US$10,000. Both the e-mail exchange and the picture have become internet hits.

how was the Google Chrome logo built ??

Courtesy: http://ow.ly/gtqg

at FmyLife.com, in a few sentences, users can tell everyone the shitty moment which ruined their day

French website VieDeMerde.fr (which translates as bad life), where the people are encouraged to wallow in self-pity, has become one of the top ten most visited sites in France since its launch in January 2008 by two young French entrepreneurs. A host of similar sites for losers are doing a roaring trade, including RaterSaVie.com (FailYourLife), which has become a hot topic in France ever since Jacques Séguéla, an advertising guru and close friend of President Nicolas Sarkozy, claimed last month that those who did not have a Rolex watch by the age of 50 had "failed" their life. Other spin-offs include Jaipasdechance.com (I've no luck) and jobdemerde.com (sh*tty job). In January the creators exported the concept to the US with a version called FmyLife.com (F*ck My Life) with incredible results.

"F*ck My Life" logo

Apparently going against the grain of the famous American "can do" optimism, a million people visit the US site every day to read about other people's hard-luck stories or recount their own, with the highest hits in New York and Los Angeles. In what has been dubbed "Twitter for losers", both VDM and FML, the American version, invite users to vent their misfortunes in a few words, the bleaker the better.

FMyLife serves as "a recollection of everyday anecdotes likely to happen to anyone." Posts on the site are short, user-submitted stories of unfortunate happenings that begin with "Today" and end with "FML," an acronym short for "F*ck my life."

an example of the post:

Today, I received my passport in the mail. They got my birthdate wrong. Then I picked up my birth certificate that I had sent in with the application. Turns out my parents have been celebrating my birthday on the wrong day for 16 years. FML

another example of the post:

Today, I had sex with this guy who I like very much. As he went to leave I decided to give him one last thrill. So I reached down his pants and started to rub and stroke him. He abruptly pulled my hand out, when I asked why, he points behind me, my mom watched the whole thing. FML

The slogan of the site is: "My life sucks but I don't give a f*ck".

As per Alexa the web rank of FML is 1024 in web traffic statistics.

The posts in FML are rated and there is a hall of Fame of all time F*cked up stories. Click here to read them.

FML founders have also published a book having a collection of all this.

Categories in the FML (click on any of these to visit subsequent FML posts):

• Love

• Money

• Kids

• Work

• Health

• Sex

• Miscellaneous

2007 – 2009 Financial Crisis' list of Companies Bailouts and Failures

2007–2009 Financial crisis

Company bailouts

• AIG (150B USD)
• Citigroup
• Bank of America
• GM
• Chrysler (4B)
• Bailout

Company failures

• New Century Financial Corporation
• American Freedom Mortgage
• American Home Mortgage
• Bernard L. Madoff Investment Securities LLC
• Charter Communications
• Lehman Brothers
• Linens 'n Things
• Mervyns
• NetBank
• Terra Securities
• Sentinel Management Group
• Washington Mutual
• Icesave
• Kaupthing Singer & Friedlander
• Yamato Life
• Circuit City
• Allco Finance Group
• Waterford Wedgwood
• Saab Automobile
• BearingPoint
• Tweeter

The financial crisis of 2007–2009 began in July 2007 when a loss of confidence by investors in the value of securitized mortgages in the United States resulted in a liquidity crisis that prompted a substantial injection of capital into financial markets by the United States Federal Reserve, Bank of England and the European Central Bank. The TED spread, an indicator of perceived credit risk in the general economy, spiked up in July 2007, remained volatile for a year, then spiked even higher in September 2008, reaching a record 4.65% on October 10, 2008. In September 2008, the crisis deepened, as stock markets worldwide crashed and entered a period of high volatility, and a considerable number of banks, mortgage lenders and insurance companies failed in the following weeks. Although America's housing collapse is often cited as having caused the crisis, the financial system was vulnerable because of intricate and highly-leveraged financial contracts and operations, a U.S. monetary policy making the cost of credit negligible therefore encouraging such high levels of leverage, and generally a "hypertrophy of the financial sector" (financialization).

Satyam Scandal - event line summary

The Satyam Computer Services scandal was publicly announced on 7 January 2009, when Chairman Ramalinga Raju confessed that Satyam's accounts had been falsified notifying board members and the Securities and Exchange Board of India (SEBI) & resigned from his seat.

Download here the statement of
Satyam Computer Services's Chairman Ramalinga Raju
** courtsey: The Hindu

Raju confessed that Satyam's balance sheet of 30 September 2008 contained:

* inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books).
* an accrued interest of INR 376 crore which was non-existent.
* an understated liability of INR 1,230 crore on account of funds was arranged by himself.
* an overstated debtors' position of INR 490 crore (as against INR 2,651 crore in the books).

Raju claimed in the same letter that neither he nor the managing director had benefited financially from the inflated revenues. He claimed that none of the board members had any knowledge of the situation in which the company was placed.

He stated that

"What started as a marginal gap between actual operating profit and the one reflected in the books of accounts continued to grow over the years. It has attained unmanageable proportions as the size of company operations grew significantly (annualised revenue run rate of Rs 11,276 crore in the September quarter of 2008 and official reserves of Rs 8,392 crore). As the promoters held a small percentage of equity, the concern was that poor performance would result in a takeover, thereby exposing the gap. The aborted Maytas acquisition deal was the last attempt to fill the fictitious assets with real ones. It was like riding a tiger, not knowing how to get off without being eaten.”

Satyam logo

Aftermath:

Raju had appointed a task force to address the Maytas situation in the last few days before revealing the news of the accounting fraud. After the scandal broke, the then-board members elected Ram Mynampati to be Satyam's interim CEO. Mynampati's statement on Satyam's website said:

"We are obviously shocked by the contents of the letter. The senior leaders of Satyam stand united in their commitment to customers, associates, suppliers and all shareholders. We have gathered together at Hyderabad to strategize the way forward in light of this startling revelation."

On 10 January 2009, the Company Law Board decided to bar the current board of Satyam from functioning and appoint 10 nominal directors. "The current board has failed to do what they are supposed to do. The credibility of the IT industry should not be allowed to suffer." said Corporate Affairs Minister Prem Chand Gupta. Chartered accountants regulator ICAI issued show-cause notice to Satyam's auditor PricewaterhouseCoopers (PwC) on the accounts fudging. "We have asked PwC to reply within 21 days," ICAI President Ved Jain said.

On the same day, the Crime Investigation Department (CID) team picked up Vadlamani Srinivas, Satyam's then-CFO, for questioning. He was arrested later and kept in judicial custody.

On 11 January 2009, the government nominated noted banker Deepak Parekh, former NASSCOM chief Kiran Karnik and former SEBI member C Achuthan to Satyam's board.

Immediately following the news, Merrill Lynch (Now with Bank of America) terminated its engagement with the company.

Also, Credit Suisse suspended its coverage of Satyam.[citation needed]. It was also reported that Satyam's auditing firm PricewaterhouseCoopers will be scrutinized for complicity in this scandal.

SEBI, the stock market regulator, also said that, if found guilty, its license to work in India may be revoked.

Satyam was the 2008 winner of the coveted Golden Peacock Award for Corporate Governance under Risk Management and Compliance Issues, which was stripped from them in the aftermath of the scandal.

The New York Stock Exchange has halted trading in Satyam stock as of 7 January 2009.

India's National Stock Exchange has announced that it will remove Satyam from its S&P CNX Nifty 50-share index on January 12.

The founder of Satyam Ramalinga Raju was arrested two days after he admitted to falsifying the firm's accounts. Ramalinga Raju is charged with several offences, including criminal conspiracy, breach of trust, and forgery.

Ramalinga Raju

Satyam's shares fell to 11.50 rupees on 10 January 2009, their lowest level since March 1998, compared to a high of 544 rupees in 2008. In New York Stock Exchange Satyam shares peaked in 2008 at US$ 29.10; by March 2009 they were trading around US $1.80.

The Indian Government has stated that it may provide temporary direct or indirect liquidity support to the company. However, whether employment will continue at pre-crisis levels, particularly for new recruits, is questionable.

On 14 January 2009, Price Waterhouse, the Indian division of PricewaterhouseCoopers, announced that its reliance on potentially false information provided by the management of Satyam may have rendered its audit reports "inaccurate and unreliable".

On 22 January 2009, CID told in court that the actual number of employees is only 40,000 and not 53,000 as reported earlier and that Mr. Raju had been allegedly withdrawing INR 20 crore rupees every month for paying these 13,000 non-existent employees.

On 5th February 2009, the six-member board appointed by the Government of India named A. S. Murthy as the new CEO of the firm with immediate effect. Murthy, an electrical engineer, has been with Satyam since January 1994 and was heading the Global Delivery Section before being appointed as CEO of the company. The two-day-long board meeting also appointed Homi Khusrokhan (formerly with Tata Chemicals) and Partho Datta, a Chartered Accountant as special advisors.

In March 2009 the company announced it would begin soliciting bids from potential buyers.

On April 13, 2009, Kiran Karnik, the MD at Satyam announced that IT services provider Tech Mahindra had offered the highest bid at Rs 58 per share.

Tech Mahindra logo

Tech Mahindra will have to pay a total of Rs 2890 crore for 51% stake in Satyam. and the IT company will have a market cap of Rs 5,666 crore on expanded equity. A US-based investment firm owned by billionaire Wilbur Ross and an Indian construction and IT services firm, Larsen and Toubro were the other bidders. Cognizant Technology Solutions had expressed its interest in a joint bid with Wilbur Ross but backed out at the end.

Anand Mahindra, Chairperson Mahindra group

WHAT was SATYAM ??

Satyam Computer Services Ltd was founded in 1987 by B.Ramalinga Raju. Satyam's network covers 67 countries across six continents. The company employs IT professionals across development centers in India, the United States, the United Kingdom, the United Arab Emirates, Canada, Hungary, Singapore, Malaysia, China, Japan, Egypt and Australia. It serves over 654 global companies, 185 of which are Fortune 500 corporations. Satyam has strategic technology and marketing alliances with over 50 companies. Apart from Hyderabad, it has development centers in India at Bangalore, Chennai, Pune, Mumbai, Nagpur, Delhi, Kolkata, Bhubaneswar, and Visakhapatnam.