I’ve been closely following the antics of Patrick Byrne, CEO of a Utah-based internet retailer called Overstock.com. Overstock is mainly known for bad service, junky products and restocking charges if you try to send back their crud. To the media it is known for two things: accounting fraud and a company-financed smear campaign.
Today the always entertaining Utah Republican financier Patrick Byrne–who, amazingly, runs a public company–answers the musical question, “How many really crazy things you can do before your shareholders ride you out of town on a rail?”
Whatever you might think of the Daily Kos, one thing you have to admit is that its bloggers don’t pull any punches. One just gave a one-two punch to the famously unethical Patrick Byrne, CEO of Overstock.com.
The new chairperson of the Securities and Exchange Commission, Mary Schapiro, can take swift action to prove that she is not a tool of Wall Street and the corporate establishment (as many, myself included, tend to believe).
Barack Obama calls his transition website change.gov, and his campaign slogal used “change” about a million times, so I am utterly flummoxed — and disgusted — by his selection of Mary Schapiro as SEC chairman, to replace the horrendous Chris Cox.
Whether you are for Barack Obama or John McCain, anybody who cares about corporate crime has cause to rejoice come January 20. On that day, the worst SEC in recent history begins to be phased out, with the new commander in chief naming a new SEC chairman to replace the wretched Christopher Cox.
One of the problems that confront CEOs, politicians and other people in public life, now that we are in the Internet era, is that it is hard to lie about what one has said. But my favorite CEO, the ever-entertaining Patrick Byrne of Overstock.com, has found a way of overcoming that obstacle.
As I’ve written a number of times on this site and in my blog, stock market conspiracy theorists have scandalously monopolized the attention of market regulators — diverting them from real issues, such as stock fraud and corporate wrongdoing.
I hate to be a stick in the mud about this, but something has been sticking in my craw about the talk of Hillary Clinton possibly becoming (if she joins the Obama ticket and if they win) vice-president of the United States. It has to do with cattle.
In previous posts I’ve described how the U.S. Chamber of Commerce, the premiere lobbyist for the interests of Corporate America and against the public, has embraced the cause of money-losing CEOs blaming their misfortunes on “naked short selling.”
Overstock.com CEO Patrick Byrne, the right-wing zealot and anti-education activist, has gained attention in the past for neat stuff like suggesting that uneducated people are so useless they should be burned. Well, Byrne has a new gambit at present, and it’s slimier than ever.
The so-lurid-it’s-almost-funny saga of Overstock.com, and its unhinged CEO Patrick Byrne, took another twist over the weekend. Seems that Byrne sent out a spam email to customers claiming that Wikipedia was a vehicle for “mass mind control.”
I’m fascinated by Overstock.com CEO Patrick Byrne, whose in-your-face deceptions and misconduct are a constant challenge to securities regulators. Rarely in one location can one find so many issues, ranging from shady accounting to ethical and corporate governance lapses.
It’s easy: just claim that your company is the target of a conspiracy by nefarious market forces. The technique is used by penny stock companies and by some even larger outfits — in particular, a money-loising Internet retailer called Overstock.com.