OSTK ceo

Quote from Babak:

Gotta read this:

http://jeffmatthewsisnotmakingthisup.blogspot.com/2007/05/pilgrimage-part-vi-most-versatile.html

The Sage of Omaha and his right hand man Charlie Munger weigh in on this topic.

'nuff said.
More...

“If anybody wants to naked short Berkshire-Hathaway, we’ll welcome them.”

Classic.

I have stated a few times in the course of this thread that if a quality name is shorted with impunity the value created would have mkt participants flocking to said name. Making it rise back to or above FV and making for a great trade. But the that point of view doesn't interest the conspiracy crowd.

Oh well...naked short away boys and i`ll be there to gobble up the deep value if appropriate.

thanks for the link Babak.
 
Quote from Babak:

Gotta read this:

http://jeffmatthewsisnotmakingthisup.blogspot.com/2007/05/pilgrimage-part-vi-most-versatile.html

The Sage of Omaha and his right hand man Charlie Munger weigh in on this topic.

'nuff said.
More...

sage boy is a known globalist.... here he is with a nazi and a rothschild. how cozy. LOL



annu_arnierothschild.gif
 
My gawd. Do you people really believe there is someone who really wrote that letter that is a college student? What a setup. Weiss, Antar, Boyd, come on. You know they're against a wall.

This is just modis operandi. I 've seen it in too many stocks. And so have you. Matthews is a joke. Discovery, boys. It's the Water to the Wicked Witch of the East. And it's a comin'. Then, the money will talk, and the bullshit will walk.

Buffett is friends w/Byrne, and will not come out on the issue. He did say his friends company is legit. Matthews doesnt mention that, does he? Two, three mones ago, NS didn't exist. Now, it's a problem. Third, let's just settle the trades as the law says, or is the prospect of a four hundred dollar share price unpalatable to the Prime Brokers, much less the Black Guard?

Oh, four hundred? Patrick has been told 30mm naked, but he's heard 60. Figure it out on an across the board call in. That's why it drags on.
 
Quote from flytiger:



Buffett is friends w/Byrne, and will not come out on the issue. He did say his friends company is legit. Matthews doesnt mention that, does he? Two, three mones ago, NS didn't exist. Now, it's a problem. Third, let's just settle the trades as the law says, or is the prospect of a four hundred dollar share price unpalatable to the Prime Brokers, much less the Black Guard?
More...

so why would Buffet cower about this issue? cause thats what he is being.. a coward.
 
Quote from ratboy88:

so why would Buffet cower about this issue? cause thats what he is being.. a coward.
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I asked directly if Buffett would join us, and Patirck said no. It is not my place to ask why. Not that anyone gives a shit, but I have no respect for him. So he's got billions, know OSTK is being screwed,a dn he won't step up. Here Byrne steps us for everybody, and he's villified.

Daddy always said life ain't fair.
 
The end of this debacle is here. I'd show you a triple but it's a PINK and I don't want to put it here, specially since I own it. But they are taking their lumps all over the place.

You'll notice everytime something happens to Patrick, Weiss, Greenberg, Jayson, Antar and Matthews come out in unison with such vitriole. And they don't own it!!! What's the deal? The deal is, this isn't about OSTK, it's about the paper, and the Black Guard demand tribute. OSTK has lost two directors who say up front it's about the Prime Broker suit. It appears OSTK has cause, according to the Judge, and they should expect discovery. With nothing in the stock, discovery is huge. Whenever someone gets discovery, there usually is a quick settlement; don't expect Byrne to take a settlement. Now, what's the bottom line with all these attacks???

"......the stock is up sixteen percent this year." What's that tell you? And what type of CEO wouldn't stand up for his company and sue the parties he feels damages his company? This is getting interesting. Oh yeah, go here: http://www.antisocialmedia.net

http://www.bloomberg.com:80/apps/news?pid=20601087&sid=act.r0Ed5Gmw&refer=home
Overstock Director Groves Resigns Because of Broker Lawsuit

By Danny King

May 25 (Bloomberg) -- Overstock.com Inc., an online seller of excess inventory, said Ray Groves resigned due to the company's $3.48 billion lawsuit against brokerage firms, becoming the second director in three months to do so.

Groves, the former chairman and chief executive officer of accounting firm Ernst & Young, resigned yesterday in a letter to Chief Executive Officer Patrick Byrne, citing ``the company's prime broker suit,'' Salt Lake City-based Overstock said in a regulatory filing today.

Groves left the company almost four months after Overstock sued Morgan Stanley, Goldman Sachs Group Inc. and other brokerages for allegedly causing the company's shares to fall almost 75 percent since the end of 2004 by manipulating the stock market. Groves, who ran Ernst & Young from 1977 to 1994, had been a director since 2005.

John Fisher, a former executive with Crocker Bank, since acquired by Wells Fargo & Co., stepped down in February because he opposed the lawsuit.

With Groves' and Fisher's resignations, a majority of Overstock's directors aren't independent, the company said in the filing.

Overstock spokesman Judd Bagley declined to comment further.

Shares of Overstock fell 6 cents to $18.40 at 4:01 p.m. in Nasdaq Stock Market composite trading today. The stock has advanced 16 percent this year.

To contact the reporter on this story: Danny King in Los Angeles at dking19@bloomberg.net

Last Updated: May 25, 2007 16:45 EDT
 
"Groves, the former chairman and chief executive officer of accounting firm Ernst & Young, resigned yesterday in a letter to Chief Executive Officer Patrick Byrne, citing ``the company's prime broker suit,'' Salt Lake City-based Overstock said in a regulatory filing today."



Actually I think the REAL reason Groves resigned is because Pat reniged on the "free shipping for life" clause in his contract. Or maybe it was the time Groves ordered the self help book from OSTK and noticed chapter 13 was missing. Bummer.

No seriously, I pretty sure there was a conflict because the word on the street, Groves , at one time, prepared taxes for Sith Lord.

A guy like Groves probably just wanted to spend more time on Soduko, that shit will set you free.


We know there are known knowns: there are things we know we know. We also know there are known unknowns: that is to say we know there are things we know we don't know. But there are also unknown unknowns - the ones we don't know we don't know." –Sith Lord
 
Whooppsseeee. Wrong thread, point me to the just kidding thread before all hell breaks loosey goosey. Geesus H crisco monte carlos veins are a poppin in my forehead. Gees I wish I had a cause.:D
 
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