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| '''Patrick M. Byrne''' is the ] and chairman of the board of Internet retailer ]. He has become well known for his allegation of a wide-ranging stock market conspiracy involving hedge funds, the media, and analysts, for which he has been widely criticized. <ref>"A Boxer and Drug Baron's Unlikely Alliance," The Globe and Mail, March 2, 2006 </ref> In May 2007, it was revealed that Byrne is the subject of a subpoena and investigation by the ].<ref>{{cite web|url=http://www.nypost.com/seven/05112007/business/company_byrne_d_on_probe_report_business_roddy_boyd.htm |title=Company Byrne-d on Probe Report |author=New York Post|date=May 11,2007}}</ref> | |||
| '''Patrick M. Byrne''' is the ] and chairman of the board of Internet retailer ]. After he blamed Overstock.com's stock price drop by December 2005 to ], he has become well known for his allegation of a wide-ranging stock market conspiracy involving this practice. | |||
| ==Background== | ==Background== | ||
| Patrick Byrne is the son of John J. Byrne, former chairman of ]'s GEICO insurance subsidiary and White Mountains Insurance Group. <ref>“Patrick Byrne: Off-Price Power,” Business Week, Oct. 1, 2002</ref> He has a Bachelor of Arts degree in Chinese studies from Dartmouth College, a Master's degree from Cambridge University as a Marshall Scholar, and a Ph.D. in philosophy from Stanford University. <ref></ref> He served as Chairman, President and CEO of Centricut, LLC, a manufacturer of industrial torches, then held the same three positions at Fechheimer Brothers, Inc., a ] company manufacturing police, firefighter, and military uniforms. <ref>Patrick Byrne biography |
Patrick Byrne is the son of John J. Byrne, former chairman of ]'s GEICO insurance subsidiary and White Mountains Insurance Group. <ref>“Patrick Byrne: Off-Price Power,” Business Week, Oct. 1, 2002</ref> He has a Bachelor of Arts degree in Chinese studies from Dartmouth College, a Master's degree from Cambridge University as a Marshall Scholar, and a Ph.D. in philosophy from Stanford University. <ref></ref> He served as Chairman, President and CEO of Centricut, LLC, a manufacturer of industrial torches, then held the same three positions at Fechheimer Brothers, Inc., a ] company manufacturing police, firefighter, and military uniforms. <ref>Patrick Byrne biography</ref> | ||
| == "Dutch Auction" IPO == | == "Dutch Auction" IPO == | ||
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| Four years after the OpenIPO, one official of Hambrecht, its now former co-CEO Clay Corbus was added to Overstock's board of directors. <ref></ref> . | Four years after the OpenIPO, one official of Hambrecht, its now former co-CEO Clay Corbus was added to Overstock's board of directors. <ref></ref> . | ||
| == |
=='Jihad' against naked shorting== | ||
| In 2005, Byrne contended that a market-wide conspiracy to commit ] was targeting Overstock.com, and announced that he had commenced what he described as a "jihad" against that conspiracy. ] is a way for an investor to bet that the share price of a company will decline by borrowing shares from someone else, selling them, buying them back at a future date, and returning the repurchased shares to the lender. If the stock price when the shares are repurchased is lower than the price at which the shares were sold, the investor makes a profit. In ], the shares are not borrowed prior to the sale, a practice which is illegal in most situations.<ref |
In 2005, Byrne contended that a market-wide conspiracy to commit ] was targeting Overstock.com, and announced that he had commenced what he described as a "jihad" against that conspiracy. ] is a way for an investor to bet that the share price of a company will decline by borrowing shares from someone else, selling them, buying them back at a future date, and returning the repurchased shares to the lender. If the stock price when the shares are repurchased is lower than the price at which the shares were sold, the investor makes a profit. In ], the shares are not borrowed prior to the sale, a practice which is illegal in most situations.<ref></ref> | ||
| Byrne claimed that the same people whom he has accused of perpetrating these crimes have now organized a massive disinformation campaign wherein the same elements are repeated over and over in an effort to confuse the public. For example, at the end of his webcast, Byrne mentioned that he thought there might be a figure coordinating these activities; he has referred to this person as the "]".<ref |
Byrne claimed that the same people whom he has accused of perpetrating these crimes have now organized a massive disinformation campaign wherein the same elements are repeated over and over in an effort to confuse the public. For example, at the end of his webcast, Byrne mentioned that he thought there might be a figure coordinating these activities; he has referred to this person as the "]".<ref>"The Phantom Menace," Fortune</ref> | ||
| Byrne made the "Sith Lord" comments in an analyst conference call in August 2005, in which he said: | |||
| SEC Chairman ] called abusive naked short selling “a fraud that the commission is bound to prevent and to punish.” In an effort to curb whatever level of naked shorting may exist, the SEC has enacted Regulation SHO, which is intended to help control Failures to Deliver.<ref>{{cite web|url=http://www.nytimes.com/2007/06/14/business/14sec.html?ref=business |title=S.E.C. Ends Decades-Old Price Limits on Short Selling |author=Floyd Norris, The New York Times |date=June 14,2007}}</ref><ref></ref><ref> 3 December 2005</ref> | |||
| <blockquote>As this went on I started realizing that there was actually some more orchestration here being provided, by what I'm calling here is the Sith Lord or the mastermind. Now, can I tell you who that designated bottom feeder was who was supposed to end up with our company? Can I tell you? I can. But I'm not going to today. The Sith Lord is, can I tell you who that is? Well, I could tell you it's a name that everybody on the phone, every single person on the phone would recognize this person's name. He's one of the master criminals from the 1980s, and he's back in business. But I'm not going to. I'll just call him the master mind today. <ref> </ref></blockquote> | |||
| Byrne has never identified the "Sith Lord" and he was widely derided for the comment. He repeated the conspiracy allegations several times during 2006, contending the markets were "broken." He has likened the conspiracy to ], saying "There's no office, no headquarters; it's a splintered group that has learned to operate together."<ref>"The Phantom Menace" </ref> | |||
| Byrne's campaign against naked short selling has been widely criticized. Referring to the "Sith Lord" allegation, Bethany McLean of Fortune said, "Maybe the Sith Lord is actually Patrick Byrne himself--because he has become his own worst enemy."<ref>"The Phantom Menace"</ref> New York Times columnist Joseph Nocera said: "Except for a few fellow-traveling Web sites, where Mr. Byrne is viewed as a heroic figure, most people who understand the issue or have looked into it think it's pretty bogus." <ref></ref> SEC Chairman ] called abusive naked short selling “a fraud that the commission is bound to prevent and to punish.”<ref>{{cite web|url=http://www.nytimes.com/2007/06/14/business/14sec.html?ref=business |title=S.E.C. Ends Decades-Old Price Limits on Short Selling |author=Floyd Norris, The New York Times |date=June 14,2007}}</ref> In an effort to curb whatever level of naked shorting may exist, the SEC has enacted Regulation SHO, which is intended to help control Failures to Deliver. <ref></ref> | |||
| In March 2006, John Byrne, chairman of Overstock.com and father of Patrick Byrne, said that he was thinking of stepping down in disagreement over his son's "jihad" over naked short-selling. The elder Byrne said "I can't tell whether this jihad adds to the value of the stock or subtracts from it, but what it does is take from Patrick's time." He said his "headstrong" son has ignored his pleas to drop the fight. Byrne said, “I'd rather keep my relationship with my son than be the chairman of the board.” <ref></ref> | In March 2006, John Byrne, chairman of Overstock.com and father of Patrick Byrne, said that he was thinking of stepping down in disagreement over his son's "jihad" over naked short-selling. The elder Byrne said "I can't tell whether this jihad adds to the value of the stock or subtracts from it, but what it does is take from Patrick's time." He said his "headstrong" son has ignored his pleas to drop the fight. Byrne said, “I'd rather keep my relationship with my son than be the chairman of the board.” <ref></ref> | ||
| In April 2006, John Byrne stepped down to become vice-chairman, and was replaced by Patrick Byrne. In July 2006, the elder Byrne resigned from Overstock's board of directors. | In April 2006, John Byrne stepped down to become vice-chairman, and was replaced by Patrick Byrne. In July 2006, the elder Byrne resigned from Overstock's board of directors. | ||
| Byrne was instrumental in Utah's passage of a law aimed at curbing naked short selling. The legislation was repealed in February 2007. In March 2007 Byrne had an angry confrontation with legislative leaders in his state. Nocera said "Though no one will say so publicly, the word is that Utah officials now feel they were snookered by the Overstock C.E.O. And that his behavior at that meeting further damaged his credibility. And that, even though he is one of the state’s largest political donors, he is going to have a hard time ever getting the Legislature to take him seriously again."<ref |
Byrne was instrumental in Utah's passage of a law aimed at curbing naked short selling. The legislation was repealed in February 2007. In March 2007, New York Times columnist ] reported that Byrne had an angry confrontation with legislative leaders in his state. Nocera said "Though no one will say so publicly, the word is that Utah officials now feel they were snookered by the Overstock C.E.O. And that his behavior at that meeting further damaged his credibility. And that, even though he is one of the state’s largest political donors, he is going to have a hard time ever getting the Legislature to take him seriously again."<ref></ref> | ||
| In February 2007, Overstock.com launched a $3.5 billion lawsuit against Morgan Stanley, Goldman Sachs Group Inc. and other large Wall Street firms, saying the firms "have and continue to participate in a massive illegal stock market manipulation scheme" involving naked short selling. Nocera described the lawsuit as "ridiculous." John Coffee, director of the Center on Corporate Governance at Columbia University Law School, described it as "an extremely unpromising litigation," and said that Overstock "may quickly find out they bit off more than they can chew." | |||
| Byrne has stated that his main objection is the accumulation of unsettled trades in the marketplace, which he feels is the source of stock price manipulation.(see Bloomberg video). | |||
| Kerry Fields, associate professor of law and business ethics at the University of Southern California, said "Byrne may be able to help set new law if he handles this right." However, Fields said, Byrne's "best approach now is probably to persuade the SEC, which continues to wander around the issue, or the government to serve subpoenas and let them decide whether or not his company was wronged." | |||
| Two members of the Overstock.com board of directors, John Fisher and Ray Groves, resigned in protest against the lawsuit. <ref> </ref> <ref> </ref> | |||
| == Media attention== | == Media attention== | ||
| Line 30: | Line 39: | ||
| Since Byrne launched Overstock.com in 1999, he and his company have garnered attention from numerous national media outlets. Among them are the ], ] with ], ], ] Marketwatch, and ], among others. He has also appeared on ], ], and ] shows such as ]. In 2002, Byrne was named to Business Week’s list of the 25 most influential people in e-Business: the magazine cited survival strength and vision as qualities that qualified Byrne for the list. | Since Byrne launched Overstock.com in 1999, he and his company have garnered attention from numerous national media outlets. Among them are the ], ] with ], ], ] Marketwatch, and ], among others. He has also appeared on ], ], and ] shows such as ]. In 2002, Byrne was named to Business Week’s list of the 25 most influential people in e-Business: the magazine cited survival strength and vision as qualities that qualified Byrne for the list. | ||
| Much of the media attention has been negative. In a column in the New York Times in February 2006, journalist |
Much of the media attention has been negative. In a column in the New York Times in February 2006, journalist Joseph Nocera condemned Byrne's attacks on analysts and the press as a "campaign of menace."<ref></ref> | ||
| CBS MarketWatch's |
CBS MarketWatch's Herb Greenberg has named Byrne the runner-up for Worst CEO of the Year two years running. | ||
| Nocera renewed his criticism of Byrne in his March 2007 column, referring to him as "dangerous" and saying, "It has always seemed to me that Mr. Byrne's primary mission had less to do with the supposed evils of naked short sellers, and more to do with making life miserable for anyone who dared to criticize his company."<ref>Nocera, “Revisiting Overstock.com and Utah.”</ref> | |||
| Byrne was prominently featured in a ] show on ], "Phantom Shares",<ref>{{cite web|url=http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vIrfhgQPAJ1s.asf |title=Phantom Shares |author=Bloomberg Television |date=March 12,2007}}</ref> in March 2007. | Byrne was prominently featured in a ] show on ], "Phantom Shares",<ref>{{cite web|url=http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vIrfhgQPAJ1s.asf |title=Phantom Shares |author=Bloomberg Television |date=March 12,2007}}</ref> in March 2007. | ||
| An AMEX investigation disciplinary action cited two brokers with violations of REG SHO by manipulating unnamed stocks with "fails" to deliver". | |||
| == SEC investigation == | == SEC investigation == | ||
| In May 2007, it was revealed that Byrne is the subject of a |
In May 2007, it was revealed that Byrne is the subject of a Securities and Exchange Commission investigation, and that he had waited a year before disclosing that he was served with an SEC subpoena in May 2006, stemming from the probe. The investigation related to his company, Overstock.com, which disclosed in May 2006 that it was the subject of an SEC investigation. | ||
| The SEC's subpoenas of Overstock.com and Byrne sought, among other things, "documents relating to the company's accounting policies, the company's targets, projections or estimates related to financial performance, the company's recent restatement of its financial statements." The New York Post reported that the delayed disclosure was "eye-opening in that most companies tend to promptly disclose material information such as when a chief executive is the subject of an informal investigation."<ref>{{cite web|url=http://www.nypost.com/seven/05112007/business/company_byrne_d_on_probe_report_business_roddy_boyd.htm |title=Company Byrne-d on Probe Report |author=New York Post|date=May 11,2007}}</ref> | |||
| Overstock.com said in an SEC filing that Byrne and the company "have responded to these subpoenas and each continues to cooperate with the Securities and Exchange Commission on this matter."<ref> </ref> | |||
| ==Education lobbying== | ==Education lobbying== | ||
| Byrne is head of |
Byrne is head of First Class Education, an education lobbying organization. The organization's primary goal is known as "65 cent solution", which would require 65% of all education spending to be spent on "in the classroom education". There is controversy regarding how this category is defined, such as the inclusion of athletics programs and exclusion of libraries and librarians. The plan has been criticized by the ] and other groups. <ref> </ref>The NEA cites a study by ], which indicated "no significant positive correlation between the percentage of funds that districts spend on instruction and the percentage of students who score proficient or higher on state reading and math tests." <ref></ref> According to First Class Education, as of July 2006, 2 states had implemented the 65% plan, ] and ], while ] rejected 2006 ballot issues 39 and J, both implementations of the 65 cent solution. <ref></ref> | ||
| Byrne also serves on the board of directors of the ] and Rose Friedman Foundation |
Byrne also serves on the board of directors of the ] and Rose Friedman Foundation . | ||
| ==References== | ==References== | ||
| <references/> | |||
| {{reflist|2}} | |||
| ==External links and articles== | |||
| * | |||
| * ] | |||
| * | |||
| * | |||
| * "Overstock's Campaign of Menace," by Joe Nocera, The New York Times, Feb. 25, 2006 | |||
| * | |||
| * | |||
| * | |||
| * | |||
| ] | ] | ||
Revision as of 02:51, 19 September 2007
Patrick M. Byrne is the CEO and chairman of the board of Internet retailer Overstock.com. He has become well known for his allegation of a wide-ranging stock market conspiracy involving hedge funds, the media, and analysts, for which he has been widely criticized. In May 2007, it was revealed that Byrne is the subject of a subpoena and investigation by the Securities and Exchange Commission.
Background
Patrick Byrne is the son of John J. Byrne, former chairman of Berkshire Hathaway's GEICO insurance subsidiary and White Mountains Insurance Group. He has a Bachelor of Arts degree in Chinese studies from Dartmouth College, a Master's degree from Cambridge University as a Marshall Scholar, and a Ph.D. in philosophy from Stanford University. He served as Chairman, President and CEO of Centricut, LLC, a manufacturer of industrial torches, then held the same three positions at Fechheimer Brothers, Inc., a Berkshire Hathaway company manufacturing police, firefighter, and military uniforms.
"Dutch Auction" IPO
Byrne initiated a dutch auction IPO of Overstock.com in 2002. It was one of the first companies to go public under a system advanced by W.R. Hambrecht + Co. Byrne said he believes that competing banks shorted his company's stock prior to a July 2002 Wall Street Journal article in order to sully the auction's effect. When Google also later went public via a Dutch Auction IPO, Byrne commented that Wall Street firms "had to be dragged into" participating in the Google stock offering. He contended that "from day one, I think they set out to sabotage it." Four years after the OpenIPO, one official of Hambrecht, its now former co-CEO Clay Corbus was added to Overstock's board of directors. .
'Jihad' against naked shorting
In 2005, Byrne contended that a market-wide conspiracy to commit naked short selling was targeting Overstock.com, and announced that he had commenced what he described as a "jihad" against that conspiracy. Short selling is a way for an investor to bet that the share price of a company will decline by borrowing shares from someone else, selling them, buying them back at a future date, and returning the repurchased shares to the lender. If the stock price when the shares are repurchased is lower than the price at which the shares were sold, the investor makes a profit. In naked short selling, the shares are not borrowed prior to the sale, a practice which is illegal in most situations.
Byrne claimed that the same people whom he has accused of perpetrating these crimes have now organized a massive disinformation campaign wherein the same elements are repeated over and over in an effort to confuse the public. For example, at the end of his webcast, Byrne mentioned that he thought there might be a figure coordinating these activities; he has referred to this person as the "Sith Lord".
Byrne made the "Sith Lord" comments in an analyst conference call in August 2005, in which he said:
As this went on I started realizing that there was actually some more orchestration here being provided, by what I'm calling here is the Sith Lord or the mastermind. Now, can I tell you who that designated bottom feeder was who was supposed to end up with our company? Can I tell you? I can. But I'm not going to today. The Sith Lord is, can I tell you who that is? Well, I could tell you it's a name that everybody on the phone, every single person on the phone would recognize this person's name. He's one of the master criminals from the 1980s, and he's back in business. But I'm not going to. I'll just call him the master mind today.
Byrne has never identified the "Sith Lord" and he was widely derided for the comment. He repeated the conspiracy allegations several times during 2006, contending the markets were "broken." He has likened the conspiracy to Al-Qaeda, saying "There's no office, no headquarters; it's a splintered group that has learned to operate together."
Byrne's campaign against naked short selling has been widely criticized. Referring to the "Sith Lord" allegation, Bethany McLean of Fortune said, "Maybe the Sith Lord is actually Patrick Byrne himself--because he has become his own worst enemy." New York Times columnist Joseph Nocera said: "Except for a few fellow-traveling Web sites, where Mr. Byrne is viewed as a heroic figure, most people who understand the issue or have looked into it think it's pretty bogus." SEC Chairman Christopher Cox called abusive naked short selling “a fraud that the commission is bound to prevent and to punish.” In an effort to curb whatever level of naked shorting may exist, the SEC has enacted Regulation SHO, which is intended to help control Failures to Deliver.
In March 2006, John Byrne, chairman of Overstock.com and father of Patrick Byrne, said that he was thinking of stepping down in disagreement over his son's "jihad" over naked short-selling. The elder Byrne said "I can't tell whether this jihad adds to the value of the stock or subtracts from it, but what it does is take from Patrick's time." He said his "headstrong" son has ignored his pleas to drop the fight. Byrne said, “I'd rather keep my relationship with my son than be the chairman of the board.” In April 2006, John Byrne stepped down to become vice-chairman, and was replaced by Patrick Byrne. In July 2006, the elder Byrne resigned from Overstock's board of directors.
Byrne was instrumental in Utah's passage of a law aimed at curbing naked short selling. The legislation was repealed in February 2007. In March 2007, New York Times columnist Joseph Nocera reported that Byrne had an angry confrontation with legislative leaders in his state. Nocera said "Though no one will say so publicly, the word is that Utah officials now feel they were snookered by the Overstock C.E.O. And that his behavior at that meeting further damaged his credibility. And that, even though he is one of the state’s largest political donors, he is going to have a hard time ever getting the Legislature to take him seriously again."
In February 2007, Overstock.com launched a $3.5 billion lawsuit against Morgan Stanley, Goldman Sachs Group Inc. and other large Wall Street firms, saying the firms "have and continue to participate in a massive illegal stock market manipulation scheme" involving naked short selling. Nocera described the lawsuit as "ridiculous." John Coffee, director of the Center on Corporate Governance at Columbia University Law School, described it as "an extremely unpromising litigation," and said that Overstock "may quickly find out they bit off more than they can chew." Kerry Fields, associate professor of law and business ethics at the University of Southern California, said "Byrne may be able to help set new law if he handles this right." However, Fields said, Byrne's "best approach now is probably to persuade the SEC, which continues to wander around the issue, or the government to serve subpoenas and let them decide whether or not his company was wronged."
Two members of the Overstock.com board of directors, John Fisher and Ray Groves, resigned in protest against the lawsuit.
Media attention
Since Byrne launched Overstock.com in 1999, he and his company have garnered attention from numerous national media outlets. Among them are the Wall Street Journal, ABC News with Peter Jennings, Fortune, CBS Marketwatch, and Business Week, among others. He has also appeared on Bloomberg TV, CNBC, and Fox News shows such as Your World with Neil Cavuto. In 2002, Byrne was named to Business Week’s list of the 25 most influential people in e-Business: the magazine cited survival strength and vision as qualities that qualified Byrne for the list.
Much of the media attention has been negative. In a column in the New York Times in February 2006, journalist Joseph Nocera condemned Byrne's attacks on analysts and the press as a "campaign of menace." CBS MarketWatch's Herb Greenberg has named Byrne the runner-up for Worst CEO of the Year two years running. Nocera renewed his criticism of Byrne in his March 2007 column, referring to him as "dangerous" and saying, "It has always seemed to me that Mr. Byrne's primary mission had less to do with the supposed evils of naked short sellers, and more to do with making life miserable for anyone who dared to criticize his company."
Byrne was prominently featured in a Bloomberg Television show on Naked Short Selling, "Phantom Shares", in March 2007.
An AMEX investigation disciplinary action cited two brokers with violations of REG SHO by manipulating unnamed stocks with "fails" to deliver".
SEC investigation
In May 2007, it was revealed that Byrne is the subject of a Securities and Exchange Commission investigation, and that he had waited a year before disclosing that he was served with an SEC subpoena in May 2006, stemming from the probe. The investigation related to his company, Overstock.com, which disclosed in May 2006 that it was the subject of an SEC investigation.
The SEC's subpoenas of Overstock.com and Byrne sought, among other things, "documents relating to the company's accounting policies, the company's targets, projections or estimates related to financial performance, the company's recent restatement of its financial statements." The New York Post reported that the delayed disclosure was "eye-opening in that most companies tend to promptly disclose material information such as when a chief executive is the subject of an informal investigation."
Overstock.com said in an SEC filing that Byrne and the company "have responded to these subpoenas and each continues to cooperate with the Securities and Exchange Commission on this matter."
Education lobbying
Byrne is head of First Class Education, an education lobbying organization. The organization's primary goal is known as "65 cent solution", which would require 65% of all education spending to be spent on "in the classroom education". There is controversy regarding how this category is defined, such as the inclusion of athletics programs and exclusion of libraries and librarians. The plan has been criticized by the National Education Association and other groups. The NEA cites a study by Standard and Poor's, which indicated "no significant positive correlation between the percentage of funds that districts spend on instruction and the percentage of students who score proficient or higher on state reading and math tests." According to First Class Education, as of July 2006, 2 states had implemented the 65% plan, Missouri and Oklahoma, while Colorado rejected 2006 ballot issues 39 and J, both implementations of the 65 cent solution.
Byrne also serves on the board of directors of the Milton and Rose Friedman Foundation .
References
- "A Boxer and Drug Baron's Unlikely Alliance," The Globe and Mail, March 2, 2006
- New York Post (May 11,2007). "Company Byrne-d on Probe Report".
{{cite web}}: Check date values in:|date=(help) - “Patrick Byrne: Off-Price Power,” Business Week, Oct. 1, 2002
- Patrick Byrne biography, Forbes.com
- Patrick Byrne biography
- “IPO Dutch Auctions Vs. Traditional Allocation,” Forbes, May 10, 2004
- Google Not the First to Go Dutch,” by Jerry Knight, The Washington Post, Aug. 23, 2004
- “Overstock.com elects Clay Corbus, Hambrecht`s co-CEO, to its board,” Internet Retailer, March 12, 2007
- "The Phantom Menace," by Bethany McLean, Fortune Magazine, Nov. 15, 2005
- "The Phantom Menace," Fortune
- “The Five Dumbest Things on Wall Street This Week,” by Colin Barr, TheStreet.com, Aug. 19, 2005
- "The Phantom Menace"
- "The Phantom Menace"
- New Crusade For Master of Overstock,” by Joe Nocera, The New York Times, June 10, 2006
- Floyd Norris, The New York Times (June 14,2007). "S.E.C. Ends Decades-Old Price Limits on Short Selling".
{{cite web}}: Check date values in:|date=(help) - “Key Points About Regulation SHO,” Securities and Exchange Commission, April 11, 2005
- “Overstock.com chairman mulls stepping down,” the Associated Press, March 3, 2006
- “Revisiting Overstock.com and Utah,” by Joe Nocera, the New York Times, March 10, 2007
- ”Overstock’s Suit Spurs Board Exit,” Bloomberg News Service, Feb. 24, 2007
- “Overstock Director Groves Resigns Because of Broker Lawsuit,” Bloomberg News Service, Bloomberg News Service, May 25, 2007
- “Overstock's Campaign Of Menace” by Joe Nocera, The New York Times, Feb. 25, 2006
- Nocera, “Revisiting Overstock.com and Utah.”
- Bloomberg Television (March 12,2007). "Phantom Shares".
{{cite web}}: Check date values in:|date=(help) - New York Post (May 11,2007). "Company Byrne-d on Probe Report".
{{cite web}}: Check date values in:|date=(help) - SEC Form 10Q filed by Overstock.com, dated May 9, 2007
External links and articles
- Overstock.com website
- Overstock.com
- “Overstock's phantom menace,” by Bethany McLean, Fortune magazine, Nov. 1, 2005
- CNET interview with Byrne
- "Overstock's Campaign of Menace," by Joe Nocera, The New York Times, Feb. 25, 2006
- First Class Education website
- "The bizarre world of Patrick Byrne's Overstock" - The Register
- Interview with Byrne on NPR
- "CEO with a Cause" interview on NBC Universal's Ivillage.com