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Meg Whitman Cashes Out, Concedes Gubernatorial Race

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'Meg Whitman was outbid by rival Jerry Brown.' Or: 'Turns out the "Buy it Now" option doesn't work when you're bidding for Governor'. The eBay auction-themed digs are plentiful this morning when it comes to billionaire Republican Meg Whitman's loss in California's gubernatorial race.

Last night at her intended victory gathering at Universal City, Whitman ultimately conceded the race to rival Jerry Brown. After telling her crowd of supporters she'd made the call to Brown to congratulate him on his win, Whitman said: "It is time now for Californians to unite behind the common cause of turning around this state that we love," according to an AP report published by the Christian Science Monitor.

During the campaign, Whitman spent $140 million of her own money, but despite being affiliated with a brand that the public generally respects--eBay--she wound up losing in what one CNN columnist calls "a spectacular fashion," in an opinion piece. Why did Whitman lose?