Tag: Byrne

Overstock and Merrill Lynch settle for $20 million

Mark Dugdale

Securities Lending Times, 3 February 2016

Overstock.com has ended its long legal battle with a group of broker-dealers after securing a $20 million settlement from the remaining defendant.
Merrill Lynch Professional Clearing Corporation was the last defendant standing in the litigation over allegations of naked short selling, which were first brought in 2007. Merrill Lynch agreed to pay $20 million to Overstock and co-plaintiffs on 28 January to settle the claims, without admitting any liability.

12/23/201503/08/2021

Article: Patrick M. Byrne CEO of overstock.com

Patrick M. Byrne CEO of overstock.com

yosuccess, 25 December 2015

Born in 1962 – Patrick M. Byrne is the CEO of most trustworthy online venture – OverStock.com. He is the son of Jack Byrne, who had built the GEICO insurance empire, and a protégé of Warren Buffet. Under Patrick’s leadership, OverStock.com saw a rise from $1.8 million in 1999 to $760.2 million in 2007, and now $1.5 Billion (FY 2014) in overall revenues.

Since the time Patrick has taken over Overstock.com in 1999, he has been the centre of attraction amongst almost all the media outlets including the Wall Street Journal, ABC News, Fortune, CBS Marketwatch, BusinessWeek, etc…. Continue reading “Article: Patrick M. Byrne CEO of overstock.com”

12/21/201503/10/2021

Article: Patrick Byrne’s warning about R3’s blockchain consortium

Patrick Byrne’s warning about R3’s blockchain consortium

Michael del Castillo, 21 December 2015

The CEO of Overstock.com last week warned that a consortium of the world’s largest banks could be used to make sure the blockchain, a new way to track value exchanges, is controlled by the existing powers.

Speaking at the Blockchain Agenda San Diego, Patrick Byrne warned that New York City-based R3CEV, a consortium of 42 global banks, could stifle innovation, according to an InsideBitcoin’s report Friday. Continue reading “Article: Patrick Byrne’s warning about R3’s blockchain consortium”

07/23/201505/12/2020

Article: Goldman Sachs Internal Memo (Yesterday): “Easy to Borrow List to be Discontinued”

Goldman Sachs Internal Memo (Yesterday): “Easy to Borrow List to be Discontinued”

Patrick Byrne

DeepCapture, 23 July 2015

My battle with Wall Street started off as a fight regarding slop in the settlement system and how it could be used to rig the stock market (the battle later expanded into other areas, including organized crime, economic warfare, and what I felt was an insufficiently proactive regulatory environment, the latter of which, I am happy to say, is showing signs of real improvement). For a decade I have asserted that one of the sources of that slop has been the system that governs short selling. One of the sources of that slop has concerned how hedge funds locate stock to short sell. And one form of that slop originates in the “Easy to Borrow List” that prime brokerages put out each day.

Comment: Goldman stopped but everyone else still does it.

03/27/201403/09/2021

Article: OVERSTOCK CEO PATRICK BYRNE TO KEYNOTE BITCOIN 2014 CONFERENCE PRODUCED BY LOCAL PRODUCER

OVERSTOCK CEO PATRICK BYRNE TO KEYNOTE BITCOIN 2014 CONFERENCE PRODUCED BY LOCAL PRODUCER

LOCAL PRODUCER, 27 March 2014

Overstock.com CEO and bitcoin convert Patrick M Byrne will deliver the keynote speech at the Bitcoin 2014 conference on 15th-17th May at the Passenger Terminal Amsterdam.

He is expected to speak about his vision for the future of bitcoin; its potential for global financial inclusion; non-currency uses like proving ownership of stocks and bonds; and the network’s relation to society as a whole.

Jon Matonis, executive director of the Bitcoin Foundation, said:

“We are delighted to have one of bitcoin’s most prominent and prescient champions at our conference. Patrick’s decision to accept bitcoin has introduced it to mainstream society and increased understanding among consumers.”

He added: “It’s going to be a great event; this conference is where visionary technology and mainstream commerce intersects.” Continue reading “Article: OVERSTOCK CEO PATRICK BYRNE TO KEYNOTE BITCOIN 2014 CONFERENCE PRODUCED BY LOCAL PRODUCER”

07/28/201303/03/2021

Article: CEO Mocks Steve Cohen In Bizarre Full-Page Wall Street Journal Ad

CEO Mocks Steve Cohen In Bizarre Full-Page Wall Street Journal Ad

Quartz, 28 July 2013

The background is that Patrick Byrne, chief executive of Overstock.com, is among the most vocal critics of naked short selling, which some investors, including SAC Capital founder Steve Cohen, use to drive down the stock price of companies that they’ve bet against. Byrne once famously called Cohen a “Sith Lord,” referencing a Star Wars villain, for engaging in naked short sales of Overstock.com. Deep Capture, the website referenced in today’s ad, is funded by Byrne. Continue reading “Article: CEO Mocks Steve Cohen In Bizarre Full-Page Wall Street Journal Ad”

02/04/201305/22/2020

Web: The Lessons From Overstock.com CEO Patrick Byrne’s Gun Caper

Web

The Lessons From Overstock.com CEO Patrick Byrne’s Gun Caper

Gary Weiss

gary-weiss.com, 4 February 2013

I was appalled (but not surprised) to learn about Overstock.com CEO Patrick Byrne’s latest escapade: a couple of weeks ago, he was arrested at Salt Lake Airport trying to carry a loaded Glock handgun onto an airplane.

I was even less surprised by the revelation, buried in a police report, that he sleeps with the gun every night, ready to drill any intruding “miscreants” with .40-caliber, bone-shattering hollow-point bullets.

Read full post.

01/10/201303/05/2021

Article: Overstock CEO Patrick Byrne Names Steve Cohen And Mike Milken As “Sith Lords”

Overstock CEO Patrick Byrne Names Steve Cohen And Mike Milken As “Sith Lords”

Until now, Overstock CEO Patrick Byrne had only alluded to the “Sith Lords” he claims are at the center of the web of hedge fund and financial journalists that are destroying companies through rumor mongering and naked short selling.

Now he’s willing to name names.

Read Full Article

08/07/201205/22/2020

Article: Barron’s Gary Weiss Caught Plagiarizing Matt Taibbi, Find-Replaces Style With Spin

Barron’s Gary Weiss Caught Plagiarizing Matt Taibbi, Find-Replaces Style With Spin

Patrick Byrne

DeepCapture, 7 August 2012

Two months ago a schlubby-but-savage Goldman lawyer named Joseph E. Floren made a mistake that caused some previously redacted information about Goldman Sachs to slip into the public’s hands. The event was ably covered by such globally-respected publications as Bloomberg, the Economist, and Rolling Stone.

Since May I have wondered, With the truth emerge at last in publications such as Economist, Bloomberg, and Rolling Stone, surely the Bad Guys must understand they have lost control of the narrative. Surely, I thought, they are working out some new damage control strategy to deflect or usurp the truth as it comes out.

And as always, Gary Weiss doesn’t let us down.

06/27/201205/16/2020

Article: Naked Short Selling is Real – And It’s Fucking Up Our Economy

Naked Short Selling is Real – And It’s Fucking Up Our Economy

Ben Makuch

Vice, 27 June 2012

Unfortunately, like many people out there, I don’t know my ass from my elbow when it comes to the economy. Sure I know a few terms like “recession” and “stock,” but ask me to explain stuff like the “Eurozone crisis” and I’ll get as far as “Apocalyptic omen.” That’s probably why businessmen can get away with pretty much anything; half of their concepts are so convoluted you need to have at least gave a shit about high school calculus to understand them, which most of us didn’t.

02/11/201203/31/2021

Video: The Wall Street Conspiracy

Video

Offered by Amazon Prime: The Wall Street Conspiracy

11/16/201103/09/2021

Article: Overstock.com CEO Dr. Patrick M. Byrne Named Ernst & Young National Entrepreneur of the Year® 2011 Retail and Consumer Products Award Winner

Overstock.com CEO Dr. Patrick M. Byrne Named Ernst & Young National Entrepreneur of the Year® 2011 Retail and Consumer Products Award Winner

PRNewswire, 16 November 2011

Overstock.com, Inc. (NASDAQ: OSTK), today announced that its CEO and Chairman Dr. Patrick M. Byrne, was named the Ernst & Young National Entrepreneur Of The Year® 2011 Retail and Consumer Products Award winner. He was honored at the Entrepreneur of the Year Awards gala, the culminating event of the Ernst & Young Strategic Growth Forum® held in Palm Springs, California on November 12, 2011. Continue reading “Article: Overstock.com CEO Dr. Patrick M. Byrne Named Ernst & Young National Entrepreneur of the Year® 2011 Retail and Consumer Products Award Winner”

05/18/201103/10/2021

Article: Overstock.com Donating All Profits from “Worldstock” to Charity

Overstock.com Donating All Profits from “Worldstock” to Charity

Ocean Media, 18 May 2011

Hot on the heels of Ocean Media Client Overstock.com announcing they’re beginning Carbon-Neutral Shipping, they will now begin donating 100% of all profits from their “Worldstock Fair Trade” store to charity.

The Worldstock Fair Trade Department of Overstock.com was founded in 2001, with the goal of returning 60-70% of product sale prices back to artisans from around the world who made them. As of the end of April, over $67 million have been returned. These funds have gone towards building schools as well as water towers and water harvesting tanks. Continue reading “Article: Overstock.com Donating All Profits from “Worldstock” to Charity”

03/24/201103/10/2021

Article: CEO’s Corner: Overstock.com’s Patrick Byrne on Expansion, Sales Tax, More