Five things for PR pros to know Tuesday morning, 9.30.2014

eBay to spin off PayPal; Secret Service faces scrutiny; Netflix to release first original movie

eBay will spin off PayPal into a separate publicly traded company. PayPal, which accounts for almost half of eBay's revenue, was the focus of a battle between eBay and activist investor Carl Icahn earlier this year.  Icahn had demanded a spinoff and the creation of a separate board for PayPal. The spinoff is expected to be completed during the second half of 2015.

Secret Service director Julia Pierson will face questions today during a House committee hearing about the agency's security lapses. The Secret Service has come under increased scrutiny after a report revealed that the man who jumped the White House fence earlier this month ran further into the building than previously known. On September 19, the intruder got past an alarm box that had been muted and into the East Room of the White House, according to The Washington Post. Secret Service officials previously said they had stopped him at the main entry. Over the weekend, the Post also published a report claiming the agency stumbled in its response to a 2011 shooting at the White House.

Ford cut its full-year profit outlook by about $1.5 billion. The automaker's troubles stem from losses in emerging markets such as Russia and South America, as well as recall costs. Ford has recalled 3.9 million US vehicles so far this year. However, the company said it expects double-digit growth for its Lincoln luxury brand. In July, Mark Fields replaced Alan Mulally as Ford CEO.

Netflix will release its first original movie. The streaming service has partnered with the Weinstein Company on a sequel to Crouching Tiger, Hidden Dragon. The film will premiere in 2015 on Netflix and in some IMAX theaters, but not in mainstream cinemas.

Advertising Week continues in New York today with events featuring Ethan Hawke, Mashable founder Pete Cashmore, and executives from Google, Nielsen, L'Oreal, and Dunkin Brands, among others. The conference runs through Thursday.

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