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2/4/2006

Naked Short-Sellers Target Overstock

02/4/2006 | Filed under: Latest eBusiness News, Updated eBiz News, Breaking News — site admin @ 9:51 pm

Overstock.com Inc. has problems, and its CEO wants you to believe they are your problems, too.

Patrick Byrne, the Internet retailers chief executive officer, has called short selling of his companys shares - essentially a bet their price will fall - a conspiracy orchestrated by a Sith Lord He later likened the conspiracy to an organization structured like al-Qaida and said his stock has been targeted by naked short-sellers a practice he said has ties to Italian, Russian and Israeli mafia. Its a practice, he maintains, that should worry other corporations and their shareholders.

This has attracted a great deal of attention, much of it incredulous.

Overstock has more easily proven problems, clearly visible in its financial reports.

This is an extremely interesting article, continue reading courtesy of ap.org