dagblog - Comments for "Rush Limbaugh & Overstock.com’s Patrick Byrne: Misogynists getting their due"

Oh yes, paying $7 million to

PeraclesPlease — Wed, 07 Mar 2012 07:19:14 +0000

In reply to O.co was an obvious bad move

Oh yes, paying $7 million to call Oakland Coliseum "o.co-liseum" or whatever, has obvious repercussions on the bottom line where the loss is only $13 mill of $1 billion in revenues.

So, I repeat - the o.co fiasco kept Overstock from posting it's 3rd straight year of profit, all the kibbutzing aside. However, replacing Byrne and focusing on customer satisfaction would probably be a good strategy, simply because it makes an easier comeback story to sell than watching Byrne mach IV. It's obvious no one cares about illegal naked short selling, just as they don't care about indefinite detentions in Gitmo and Bagram. It's so 5 minutes ago.

O.co was an obvious bad move

PeraclesPlease — Wed, 07 Mar 2012 07:08:46 +0000

In reply to >" ... If they hadn't done

O.co was an obvious bad move that had to be reversed - it was well documented that customers couldn't find the new site as they typed "o.com". The rest is bitter speculation.

The stock was about 6 in Apr 2009 and back up to 23 as of May 2011. So much for your predictions. Some day I will die. Tomorrow? Or 40 years? Doesn't matter, I'll be right when I do.

Also, stock price is not always a level indicator - Gary Weiss continues to hammer Overstock from SeekingAlpha because of their grudge match, not because of actual conditions. (He goes on at great length about the libel suit in Canada - which is only about place of venue, not about merits of the case - and the guy filing a false claim with the court to take down DeepCapture. Weiss is simply into schadenfreude with Overstock)

Nonetheless, customer satisfaction with Overstock is very low for on-line retailers, much more important than what Byrne gave to Swift Boats, did with Google, filed against Goldman Sachs.

(And Weiss had great joy in the California suit being dismissed, but the reason was that the violating short selling behavior was carried out primarily in NJ & NY, even though it was California's Bank of America trading on the Pacific Stock Exchange that they were pointing at. This suit is not over, nor is it a bad one, though at the end of the day it'll just be a small writeoff for Goldman Sachs underneath a ton of profit)

>" ... If they hadn't done

Anonymous — Tue, 06 Mar 2012 23:45:47 +0000

In reply to Longish comment eaten by

>" ... If they hadn't done "O.co", they would have likely met a 3rd year profit. ... "<

Perhaps. Or perhaps if they hadn't gamed Google and lost. Or perhaps if they hadn't spent quite so much money being quite so litigious. Or hadn't offended the schoolteachers. Or been so identified with the extreme right wing.

And you are right, people have been predicting OSTK would go down for years and years -- when it was at $45, at $35, at $20, at $15, $10, $8 and now $5.

Yes you have hit the nail on the head. If only they had made fewer bad decisions and more good ones. It could be all they need to exit of the death spiral is better judgment. Firing themselves and hiring better might prove the point.

Longish comment eaten by

PeraclesPlease — Tue, 06 Mar 2012 17:17:13 +0000

In reply to Rush Limbaugh & Overstock.com’s Patrick Byrne: Misogynists getting their due

Longish comment eaten by crappy Flash plugin.

Short version - comments to McLean were uncalled for in any case, but especially not with a fairly obvious column about an undeserved self-comparison between Overstock & Amazon.

However, Sam Antor's association with Barry Minkow, a guy who did trash a company behind the scenes for fun and profit and went to jail for it?

http://features.blogs.fortune.cnn.com/2012/01/05/barry-minkow-con-man/

This is the insider trading racket that all these people says doesn't exist. Bethany can be excused in 2005 for denying. Denying in 2012 is willful fantasy. "Libel & slander" against the pseudo-journalists like Gary Weiss that abet this crime?

As for Overstock, a 1.3% loss on $1 billion in sales is not a catastrophe - they've survived for 8 years with people predicting collapse any day. If they hadn't done "O.co", they would have likely met a 3rd year profit. Skinny, but still black.

Gary Weiss is a hack. Is that hard to tell? Read more than 1 of his columns. You miss the point of sock puppetry in your 2009 article - writing as "IPFrehley" doesn't make you a sock puppet, as you obviously are joking. Writing as PeteThurgow or Karen Unger (real sounding names???) saying PeraclesPlease is a great writer is being a sock puppet.

As for the libel suit in Canada, the plaintiff shut down Overstreet.com illegally byfalse claims to GoDaddy. While DeepCapture certainly put out some hard stuff on the one guy, they seem to have quite a bit to back it up. What's behind this bit on Nazereli:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65886927