While I keep tabs on the Overstock.com situation because I regularly read the offerings from journalist Gary Weiss, fraud buster and convicted felon Sam E Antar, and fraud buster Tracy Coenen, I don't devote a lot of space at Lee Distad's Professional Opinion to the antics of Overstock's Surrealist and Conspiracy Theorist CEO Patrick Byrne.
There's two reasons for this. One, as I've said before, I generally only cover real companies, ones that have customers, have something resembling a business plan, and either do something constructive, or create something other than antipathy. The other reason is that I think Dr. Byrne is of the "bad press is better than no press" school of thought, and I refuse to give him the attention that he apparently seeks so desperately.
However, not everybody feels this way. Garry Weiss, author of Wall Street verus America just can't stop himself from kicking the same anthill over, again and again.
gary-weiss.com: Stop Presses! Overstock CEO Patrick Byrne Tells the Truth
the Today we have a real "man bites dog" story: Overstock CEO Patrick Byrne, whose wack-a-doo public statements rarely have any relationship to reality, has finally spoken the truth. Not the whole truth, by any means, but a reasonably close approximation.In a posting on his personal message board today, devoted mainly to a knucklehead rant on the market, Byrne acknowledged that he is the target of an SEC investigation -- not a good citizen giving information to the agency on "miscreants," as he has said in the past. He also said that the probe concerns his (cough cough) "irregular" actions.
I enjoy Gary Weiss' work, but he really needs to talk to somebody, or take up yoga or Tai Chi or something, because he's gonna give himself an ulcer from being that furious, and being angry at Byrne and Overstock seems so futile, given what a sad and tawdry spectacle they present.
Most recently, Dr. Byrne has attracted attention by having hishenchman PR Flack conduct a hamfisted character assassination of a 19 year-old satirical blogger. On the bright side, the minor foofrah has brought the talents of young Zac Bissonnette, at Hedge Funnies.com to my attention. The kid is a genius, and I've added him to my list of regular stops in the blogosphere.
Of course, having written this, I'm probably now on The List . I will likely be dismissed as another one of the evil, ominous sockpuppets doing the bidding of the "Sith Lord"responsible for OSTK's dwindling share price (as opposed to OSTK making no money in, well, ever).
There's two reasons for this. One, as I've said before, I generally only cover real companies, ones that have customers, have something resembling a business plan, and either do something constructive, or create something other than antipathy. The other reason is that I think Dr. Byrne is of the "bad press is better than no press" school of thought, and I refuse to give him the attention that he apparently seeks so desperately.
However, not everybody feels this way. Garry Weiss, author of Wall Street verus America just can't stop himself from kicking the same anthill over, again and again.
gary-weiss.com: Stop Presses! Overstock CEO Patrick Byrne Tells the Truth
the Today we have a real "man bites dog" story: Overstock CEO Patrick Byrne, whose wack-a-doo public statements rarely have any relationship to reality, has finally spoken the truth. Not the whole truth, by any means, but a reasonably close approximation.In a posting on his personal message board today, devoted mainly to a knucklehead rant on the market, Byrne acknowledged that he is the target of an SEC investigation -- not a good citizen giving information to the agency on "miscreants," as he has said in the past. He also said that the probe concerns his (cough cough) "irregular" actions.
I enjoy Gary Weiss' work, but he really needs to talk to somebody, or take up yoga or Tai Chi or something, because he's gonna give himself an ulcer from being that furious, and being angry at Byrne and Overstock seems so futile, given what a sad and tawdry spectacle they present.
Most recently, Dr. Byrne has attracted attention by having his
Of course, having written this, I'm probably now on The List . I will likely be dismissed as another one of the evil, ominous sockpuppets doing the bidding of the "Sith Lord"responsible for OSTK's dwindling share price (as opposed to OSTK making no money in, well, ever).
Regarding sinister conspiracies, my good friend Charles Farley, who is a total mensch once said to me "No one ever invited me into some International Jewish Conspiracy. God knows they should, with all these donations I make to the Schul!"
Of course, if there is a sinister conspiracy to discredit and ruin Patrick Byrne, I expect them to pay up. The "'Sith Lord" should drop me a line, and we can discuss which Swiss Bank account he will wire the money to.
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