Via Going Concern: Helpful Suggestions for Overstock.com CEO Patrick Byrne's Apology to Sam Antar
JDA is a helpful young lady (potty mouth aside) and so is the rest of the Going Concern team, which is why we offered some helpful suggestions to Overstock.com CEO Patrick Byrne in response to this recent request from our friend Sam Antar:
From: Sam E. Antar
Sent: Monday, March 08, 2010 11:02 PM
To: Patrick M. Byrne
Subject: Overstock.com Restatement
Will you finally admit that I was correct when I reported in my blog that Overstock.com violated GAAP by using a phony gain contingency in light of the company’s recently announced restatement?
You owe me a public apology.
Check out the rest on Going Concern if you're interested in my suggestions. I'm partial to cupcakes myself but that's just me. Note it if you're in the habit of pissing me off *coughI'mstaringdirectlyatyouBenBernankecough*
Gary Weiss also picked up the post (for which we are grateful), thanks Gary!
Update: Seriously, how did I miss this from Sam's blog? "Analyzing Overstock.com's financial reporting is a forensic accountant's wet dream and Patrick Byrne is about to become the SEC's new orgasm." Fuck the SEC, I think JDA just had one...