Skip to main content

Posts

Showing posts from January, 2013

Overstock.com CEO Patrick Byrne Sleeps With a Gun

In numerous blog posts in the past, and in widespread media coverage, evidence has accumulated for years that Overstock.com CEO (NASDAQ: OSTK) Patrick Byrne has shown signs of being mentally unbalanced and paranoid.

Byrne has blamed his company's financial woes on an unnamed "Sith Lord." He hired paid goons to stalk his real and imagined adversaries and to write lengthy conspiracy theories on the Internet. Byrne has close ties with Bo Gritz. The Anti-Defamation League lists Bo Gritz as a far-right extremist with “extensive connections to both white supremacists and anti-government groups and leaders.”

Patrick Byrne's infamous temper tantrums when he doesn’t get want he wants are well documented too. He made obscene and misogynistic comments to a female reporter. He suggested that she gave “blowjobs” to Goldman Sachs traders. He suggested that a male reporter “Sucks It Likes He’s Paying the Rent.” An independent research analyst was told that “You deserve to be whippe…

Patrick Byrne: Armed, Dangerous, and Delusional

Update article: Overstock.com Hatchet Man Judd Bagley's Downward Spiral: Junkie, Confessed Criminal, Admitted Adulterer

Last Wednesday, Overstock.com (NASDAQ: OSTK) CEO Patrick Byrne was arrested after Transportation Security Administration (TSA) officers found a loaded pistol concealed in his carry-on bag at an airport security checkpoint. He spent several hours in Salt Lake County jail before being released on bail. The company made no disclosure to investors, and news of Byrne's arrest was only disclosed on Friday in a TSA announcement.

This was only the most recent of a series of bizarre incidents involving Patrick Byrne dating back to 2004, when Byrne blamed an unnamed "Sith Lord" for his company's problems, and when he made obscene and misogynistic comments to a female reporter. Rather than dismissing this as just another instance of Byrne behaving irresponsibly, the press, securities analysts, investors and other interested observers of the company should …