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Pointing to it, Agent Woolley said: "The novelty of this is that it's an operational business.
The idea is to transfer all a firm's operational business to the web, from human resources to sales and distribution.
"I don't think it's justified if you look at our operational business," said Ron Sommer, Deutsche Telekom's chief executive.
Sharp, who graduated from St John's College, Oxford, in 1983, with a first-class honours degree in engineering, economics and management, retired from Trafigura's operational business in 2007.
Politicians and companies have claimed that many of the offshore firms are established in these jurisdictions for operational business functions or administrative reasons rather than to secure a lower tax liability.
"The division of duties will focus Alex's attention on managing the operational business whilst allowing me to concentrate on identifying future strategic opportunities and remaining the custodian of Shine's unique culture of creative excellence," added Murdoch.
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"While I would hesitate to be critical of the 'wham-bam four months you've got a business' approach, I think the vast majority of ventures take more than that amount of time to become operational businesses people can be proud of," said Len A. Schlesinger, president of Babson College in Wellesley, Mass.
Those involved in structuring banks do think of themselves in the terms of operational businesses with products of varying quality on offer in a quasi-marketplace of sorts.
ePregnancy.com and other eToys assets were bought for $2.15 million (they were actual operational businesses, not just domain names), while Birthdays.com, Pinata.com, eParties.com were acquired for $200,000 by Done Ventures and Domain Equity picked up Hobbies.com and iToys.com for $102,000.
"Our growth comes from bringing transformational new technologies to solve the problems of operational businesses, a massive segment of the economy that has long been underserved by the technology industry," wrote Kiren Sekar, Samsara's vice president of marketing and products, in the funding announcement.
Mr. Icahn often invests in biotechnology or in companies with long track records that have had operational or business problems.
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