Thursday, December 11, 2008

Where Are the Condolences for Shareholders?

Overstock shares since filing of the junk lawsuit

The clown prince of Corporate America,'s wack-a-doo CEO Patrick Byrne, issued a gloating press release today on the liquidation of Copper River, a hedge fund (formerly known as Rocker Partners) against which he has filed a junk lawsuit.

That's to be expected from this odious and small man, known mainly for his inept management of a company that is a mockery of corporate governance. His antics are so nutty that the company was forced to disclose in an SEC filing that he is destroying the company's already-slim reputation with his paranoid ravings.

You have to wonder who will offer condolences for Overstock shareholders. When he filed his junk lawsuit against Rocker, the company's shares were trading in the forties. They have never returned to those levels, and now they are struggling to stay in the double digits.

© 2008 Gary Weiss. All rights reserved.

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