elgato
Joined: 24 Feb 2005
Posts: 17240
Location: Texas
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| Posted: Tue Aug 24, 2010 7:24 pm Post subject: Overstock.com’s CEO Refutes Insider Trading Claims |
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Patrick Byrne stopped by the Forbes San Francisco Office today on his way to the 2010 innovation summit hosted by crowdsourcing software firm, Spigit, in Half Moon Bay.
Of course I asked him about his second quarter loss, and investors’ concerns about insider trading.
The latest charge was sparked by High Plains Investments, which is 100% owned by him, dumping 140,000 shares just nine days after the quarter ended, and prior to the earnings announcement.
Byrne believes Overstock.com is meeting what it’s set out to accomplish this year.
He said during today’s interview, “I said we’d break even in the first 9 months and would come out ahead full-year. I don’t worry about each quarter and worry about what Wall Street’s estimates are. I believe we’re right on track.”
Meantime, I offered my intern, Nicole Engelhardt, a recent Arizona State graduate, the opportunity to also ask him a few questions for her blog.
She asked him his advice for young entrepreneurs and the greatest lesson he learned in his career. It was fascinating.
more.. link to news article |
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