Robert Peck Quotations

We believe that free shipping programs, including Amazon Prime, had a much greater negative impact to Amazon's gross margins than we'd originally anticipated.

We bring our students here each year to give them the chance to explore different careers to see all the things that are out there in engineering and science.

We think eBay may have revised its processes enough to minimize its liability. However, at minimum, eBay would be liable for the original $25 million.

I think the market's already corrected for the downplay in EPS,

We just decided that this was a more practical approach and that's what we did. Hopefully, Monmouth County will have success with their project in the long run.

XM introduced several new products that could help it enter the portable digital music player market. The wearable units have a significantly improved user interface, have smaller form factor, and could offer enhanced signal reception.

The real question is around who would make a good partner, ... The leading partners are Murdoch, Disney, GE, Viacom, even Microsoft. I think all would be very interested in gaining that access to the home.

To have these partners jump into the deal substantiates that there is a market opportunity for satellite operators, and I would look forward to more partnering with satellite firms,

We expect growth in the first quarter will likely continue to remain exceptionally strong as the Howard Stern fans switch to subscription radio.

This site is much more on a collision path with other online retailers. I would also say that the traditional site has been very focused on the sellers, but now eBay is saying that it has enough supply and it's going after the demand side of the equation.

The spending question was the question of the quarter across all the Internet names.

After returning from our trip to China, we think that eBay will need to continue to invest in 2006, potentially pushing off any rebound in near-term margins,

Any kind of service is available to them.

Auctionshark.com has recently begun a trial of meta-auctions, ... Should these types of services gain momentum, they could increase the competition to eBay (or at least potentially increase marketing costs.)

As long as eBay continues its current policy on non-disclosure of these metrics, we think investors will be very cautious as to their expectations of eBay's success in China, which would weigh on the stock,

As most commerce is local in nature, local online advertising could be a big opportunity.

In the past, many investors considered it inappropriate to include a then-highflying Internet stock into the index, which relative to the rest of the group was trading at a much higher trailing multiple, to such an extent that including it elevated the entire multiple of the S&P 500.

I am not changing my rating on the stock (

However, this is also a potential negative as well, as buyers and sellers communicating on 'the phone' makes it easier to take transactions off eBay,

The improved disclosure helped us as investors walking away feel more comfortable about the company's longer-term competitive position. For the first time, management stated that their long-term operational goals for the company will result in increasing shareholder value.

The changes spooked a lot of people on the call, when analysts were trying to figure out why the changes were made and the changes should have already been in our estimates. I am concerned that management had guided us previously so far away from where they guided us now.

The changes spooked a lot of people on the call,