eBay Inc. ( EBAY ) April 26, 2012 11:00 am ET Executives Edward W. Barnholt - Lead Independent Director and Chairman of Compensation Committee Michael R. Jacobson - Senior Vice President of Legal Affairs, Secretary and General Counsel John J. Donahoe - Chief Executive Officer, President, Director and Interim President of Paypal Devin N. Wenig - President of Global Ebay Marketplaces Business Unit David Marcus - President Edward W. Barnholt Good morning. I'm Ned Barnholt. I'm one of the members of the Board of Directors of eBay Inc. and eBay's Lead Independent Director. Pierre Omidyar, eBay's Founder and Chairman, regrets he cannot be here in person today's meeting, but he'll be joining us via Skype. I think he should be right there. Hi, Pierre. I'll be acting as Chairman of this meeting.