Tuesday, November 18, 2008

More on the Overstock.com Spam Campaign

The Overstock.com p.r. genius is producing more dividends for this slimy company. The website Microcap Speculator, also a target of the spam campaign I noted a few days ago, reacted in an annoyed post today.

Two questions:

1. Does anyone really believe that Patrick Byrne “learned at the knee of Warren Buffet”?

2. Why has Overstock.com hired a “”consultant” to promote Patrick Byrne personally as a market guru? Look at the chart below…hasn’t the Wrath of Byrne already hurt shareholders enough? Seriously, OSTK would shoot up 15-25% if Byrne resigned.

Microcap Speculator noted that the "consultant" hired to promote this spam, Chris Jones, has a Linked In page. I had withheld Jones's name in the belief that he was an out-of-work journalist hard up for any kind of work (and I do mean any kind), but according to the link he is also currently employed as a "general assignment reporter at 2News."

In addition to working as a reporter, Jones also lists on his resume: "Advise and consult Chairman and CEO of Overstock.com, Dr. Patrick Byrne, regarding media, public relations and marketing initiative."

Assuming that is up to date, his working simultaneously as a journalist for a bona fide news organization definitely puts him in a conflict of interest situation, and a creepy one at that, given Byrne's propensity for smearing the press.

© 2008 Gary Weiss. All rights reserved.

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