Call it what you will, but I call it the ‘Obama Effect.’
During his SOTU address President Obama publicly recognized eBay, as he highlighted the strength of the U.S. economy. Unfortunately, less than 24 hours later the company announced it will be cutting 2,400 jobs.
Ouch! I really feel bad for those people.
John Donahoe, eBay’s president and CEO gave thousands to Obama’s 2012 campaign. He’s also donated more than $90,000 to other Democrats since 2006.
But all is okay — the company’s stock jumped more than four-percent after the announcement — so now he can give even more to the Democratic Party.