Meg Whitman, president & CEO of eBay

This is a partial transcript from Your World with Neil Cavuto, September 27, 2001.

NEIL CAVUTO, HOST: For those of you who don't have a lot of those dollars right now but do want to help those hurt by the terrorist attacks, you don't need money. All you need is the time to dust off those old records and bikes, toy cars, you name it. You won't believe how much they could mean to the families whose lives have been ripped apart by this tragedy.

Joining us now with this novel solution is Meg Whitman. Meg, of course, the president and CEO of a little company called eBay.

Meg, good to see you.

MEG WHITMAN, PRESIDENT & CEO, EBAY: Thank you very much.

CAVUTO: How will this work?

WHITMAN: Well, Auction for America was lunched about 10 days ago, and what we hope every American will do, will list something on eBay for sale or buy an item. And when you list an item — that old tennis racket or gold clubs or a used pair of skis — when it sells 100 percent of the value of that item goes to the September 11th Fund, the Twin Towers Fund.

We've waived all of our fees. Visa, MasterCard and Discover have waived their fees. So 100 percent of the value of the item goes to the fund.

CAVUTO: Now, I've heard there's been enormous interest in this. Do you regret waiving these fees, because this is turning out to be an administrative nightmare, isn't it?

WHITMAN: No, I mean, the whole company is behind this. It really has been a rallying cry for the company and it's the right thing to do. So we're well on our way, and every purchase in Auction for America is done with a credit card. So actually, the back-end is less complicated than you might think.

CAVUTO: And the money raised is instant, in other words...

WHITMAN: Yes.

CAVUTO: ... because it's a credit-card transaction.

WHITMAN: Exactly.

CAVUTO: So it's not like a pledge deal...

WHITMAN: No.

CAVUTO: ... where some of these things are people pledge this Mickey Mouse and they never give the money.

Longer term, how do you keep this up? How long do you keep it up? What are we looking at as far as goals?

WHITMAN: Our goal is to raise $100 million in 100 days, and coincidentally 100 days ends on December 25th, Christmas Day this year.

CAVUTO: Oh, really, that's interesting.

WHITMAN: And we're, you know, on our way, and there's been tremendous interest.

CAVUTO: Are you surprised, just stepping back from this, I've noticed a lot of technology CEOs, CEOs in general, who have, you know, offered money out of their own pockets and their company, anything they can do to help, even though a lot of them are strapped themselves. I mean, in your case, eBay well off its highs in the stock market. But a lot of you guys don't seem to be caring about that, anything you can do.

WHITMAN: This was the right thing to do. I mean, everyone at eBay was touched by what happened on September 11th. And when we received the call from Governor Pataki's office to see if there was some way our virtual community of users could help, it was a natural thing for the company to jump in.

CAVUTO: Do any of your shareholders say, Meg, we appreciate your heart and passion, but not at our expense?

WHITMAN: No one has said that actually, because I think everyone understands that this is such an important thing, and it's been incredible to see the whole country pull together, just not eBay, but the whole country. So it's the right thing to do.

CAVUTO: What are some of the more unusual things that have been auctioned?

WHITMAN: Well, Governor Pataki and Mayor Giuliani kicked it off. Mayor Giuliani put his 1973 baseball, signed by Yogi Berra.

CAVUTO: Wow!

WHITMAN: Governor Pataki put a picture of him and Joe DiMaggio riding in a car through the "Canyon of Heroes" after the Yankees won the World Series.

Kay Granger, a congresswoman from Texas, has gotten every member of Congress to sign a United States flag that flew in the Capitol that will go up on the site.

Andre Agassi has signed a tennis racket. Jennifer Capriati has signed a tennis outfit.

So we've got musicians, singers, congressmen, politicians, and then every average American. A mom has started a virtual lemonade stand on Auction for America, auctioning off virtual cups of lemonade, and her daughters' artwork.

CAVUTO: That's cute.

What is the record amount of money so far, the record bid, if you want, on an item? What has it been?

WHITMAN: Right now, the highest item is Andre Agassi's tennis racket at...

CAVUTO: Really?

WHITMAN: ... at $3,200. But we're starting to see cars and boats and planes on the site. I think the flag will go for a tremendous amount of money. So I wouldn't be surprise to see items sell for as much 500,000 to a million dollars.

CAVUTO: All right. I'm going to see if we can get just some stuff from this show out, but I think we're talking pennies here.

WHITMAN: You know, we would love anything that you could find that was reminiscent of your show. We'd love that, and I think actually you'd be surprised for how much it would go for.

CAVUTO: Meg, this is a very nice idea. Meg Whitman, the head of eBay.

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