Tag: Overstock

Posted on

Article: Anger at Goldman Still Simmers

Article - Media

Anger at Goldman Still Simmers

Gretchen Morgenson

New York Times cited by RGM Communications via Wayback, 26 March 2012

Just before the financial crisis began in September 2008, a prominent hedge fund appeared well positioned to take advantage of any turmoil in the markets. That fund, Copper River Partners, had made sizable bets months earlier against companies whose stocks it expected to suffer.

Within weeks, however, Copper River, once a successful $1.5 billion hedge fund, was out of business, having unexpectedly absorbed losses on the very bets it thought would be profitable.

Access archived page.

Posted on

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

Article - Media, Publications

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”

Posted on

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

Article - Media, Publications

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”

Posted on

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

Article - Media, Publications

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

MERCEDES CARDONA, 24 March 2011

Online retailer Overstock.com (OSTK) has been on a tear lately. Even after increasing its spending on marketing and technology, the company boosted its earnings 79% and its revenue 24% in fiscal 2010. It’s now gearing up for international expansion, recently introducing the domain name O.co as an overseas-friendly shortcut and signing a deal with DHL to reduce its international shipping costs. Continue reading “Article: CEO’s Corner: Overstock.com’s Patrick Byrne on Expansion, Sales Tax, More”

Posted on

Article: Innovation Mandate: Patrick Byrne Lays It On The Line

Article - Media, Publications

Innovation Mandate: Patrick Byrne Lays It On The Line

Doug Henschen, 10 December 2010

Online discount retailer Overstock.com is recognized as a world-class technology organization. Using advanced information management technology, for instance, it can roll up its profit-and-loss position in two hours, giving executives accurate, up-to-date insight for fast decision-making. Continue reading “Article: Innovation Mandate: Patrick Byrne Lays It On The Line”

Posted on

Article: Overstock’s Byrne claims $5m scalp over short selling

Article - Media, Publications

Overstock’s Byrne claims $5m scalp over short selling

Cade Metz, 09 December 2009

Overstock.com CEO Patrick Byrne has said that hedge fund Copper River Partners paid his company $5m this afternoon to settle claims it colluded to denigrate Overstock and then profit from short positions in the retailer’s shares.

Byrne – who has waged a very public battle over Wall Street short selling – tells The Reg that the $5m payment from Copper River (formerly Rocker Partners) arrived at about 2:30pm Pacific time on Tuesday. According to Byrne, it settles a 2005 lawsuit Overstock filed against the hedge fund. Continue reading “Article: Overstock’s Byrne claims $5m scalp over short selling”

Posted on

Web: Patrick Byrne, Facing Dilemma, Lashes Out at Penson Financial

Web

Patrick Byrne, Facing Dilemma, Lashes Out at Penson Financial

Gary Weiss

gary-weiss.com, 9 October 2009

Sam Antar today describes the serious dilemma facing Patrick Byrne, the wacky CEO of Overstock.com. Thanks to an SEC investigation instigated by Sam, who has posted frequently about how Overstock has systematically inflated its financial statements, Byrne is caught between the proverbial rock and a hard place.

He has to either restate Overstock’s recent earnings–including a much-ballyhooed “profit” in the fourth quarter that was actually a loss–or wait until the SEC forces him to do so.

Read full post.

Posted on

Web: Byrne: SEC Enforcement Division Takes Orders From Short-Sellers

Web

Byrne: SEC Enforcement Division Takes Orders From Short-Sellers

Gary Weiss

gary-weiss.com, 19 September 2009

Patrick Byrne has a new conspiracy theory to explain why his corporate crime petri dish Overstock.com is under investigation by the SEC. Seems that short sellers, in addition to having a fax machine at CNBC, also have a hotline to the SEC, in which they bark out orders to start investigations against innocent CEOs like Byrne.

Byrne made that comment on Fox Business News, where he is trotted out as an “internet retailing expert,” no doubt because of the skill at which he has eased Overstock into negative shareholder equity. He was brought out this time for a ritual denunciation of new bank compensation rules.

Read full post.

Posted on

Article: How Dendreon Is Proving Short Sellers Wrong

Article - Media

How Dendreon Is Proving Short Sellers Wrong

Gary Weiss

Seeking Alpha, 18 August 2009

In other words, Dendreon is not like the third-rate Internet retailer Overstock.com (NASDAQ:OSTK), whose wack-a-doo CEO Patrick Byrne has been weaving wild conspiracy theories over naked short selling for years, ever since it dawned on him that he simply does not know how to run a company. His talents, to the extent he has any, lie elsewhere (standup comedy?), but he has never eked out a profit for his company. His recent announcement of tiny fourth quarter profits was achieved by accounting gimmickry.

Read full article.

Posted on

Article: Goodbye to Naked Shorting

Article - Media

Goodbye to Naked Shorting

Floyd Norris

The New York Times, 30 April 2009

Naked short-selling.

In some circles, those are fighting words. There are companies that blame all their problems on that kind of trading, which is illegal if it is intended to manipulate the market. There are claims that it has destroyed thousands of public companies, although those making the claims have trouble naming any such companies.

Read full article.

Posted on

Article: In Pursuit of the Naked Short by Alexis Stokes

Article - Academic

In Pursuit of the Naked Short

Alexis Stokes, Texas State University

Journal of Law and Business 5/1 (Spring 2009)

This article explores the origins of naked short-selling litigation; considers
the failures of significant naked short-selling lawsuits in federal court;
surveys the obstacles erected collectively by constitutional standing requirements, the Federal Rules of Civil Procedure, the Private Securities Litigation Reform Act, brokerage firms, death spiral financiers, and the Depository Trust and Clearing Corporation; examines the efficacy of Regulation SHO, SEC rule 10b-21, and new FINRA rules; discusses recent state legislation and state court litigation; and identifies non-litigation options to curb naked short-selling. Ultimately, this article seeks to answer the question: If manipulative naked short-selling is more than a mythological scapegoat for
small cap failure, what remedies are, or should be, available?

PDF (62 Pages): Article In Pursuit of the Naked Short

Posted on

Article: Gary Weiss, Psychopath & Scaramouch

Article - Academic

Gary Weiss, Psychopath & Scaramouch

Patrick Byrne

Portfolio Magazine cited by DeepCapture, 31 December 2008

For over 10 years Gary Weiss (once a reporter with BusinessWeek, and recently, a columnist with Forbes) has been posting under fake names to confuse, distort, and hijack Usenet groups, stock message boards, and Wikipedia, using social media to prevent the public from understanding criminal activity.

I now turn to Gary Weiss. Last year one of the most prominent journalists on Wall Street warned me, “I’ve known Weiss for years. Be careful. He’s a psychopath.” As you will see, he was neither joking nor exaggerating. I think, however, that Gary is better described as a “Scaramouch.”

Read full article.

Posted on

Article: Overstock and Patrick Byrne Continue Naked Short Selling Jihad

Article - Media, Publications

Overstock and Patrick Byrne Continue Naked Short Selling Jihad

Thomas J. Catino, 08 November 2008

Overstock.com (Nasdaq: OSTK) President, Dr. Patrick Byrne, has continued to up the ante in his vocal public battle against a coordinated campaign of short sellers who have allegedly targeted his company’s shares. After appearing over the summer on a CNBC Street Signs segment with anchor Ron Insana, Byrne continued to emphasize that “what’s at stake here is innovation and entrepreneurship in America.” With strong words, Byrne said that his “company has been attacked and I’m not going to take this lying down.” Continue reading “Article: Overstock and Patrick Byrne Continue Naked Short Selling Jihad”

Posted on

Article: Emails show journalist rigged Wikipedia’s naked shorts

Article - Media

Emails show journalist rigged Wikipedia’s naked shorts

Cade Metz

The Register, 1 October 2008

Two and a half years ago, Overstock.com CEO Patrick Byrne penned an editorial for The Wall Street Journal, warning that widespread stock manipulation schemes – including abusive naked short selling – were threatening the health of America’s financial markets. But it wasn’t published.

“An editor at The Journal asked me to write it, and I told him he wouldn’t be allowed to publish it,” Byrne says. “He insisted that only he controlled what was printed on the editorial page, so I wrote it. Then, after a few days, he got back to me and said ‘It appears I can’t run this or anything else you write.'”

Read full article.

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?