Comments on: Overstock.com and its phony earnings figures

By: Tracy

Tracy — Mon, 03 Sep 2007 18:07:25 +0000

You didn’t send me an email, you made a public comment on a public blog.

The words “something he called” should not have been in the sentence. I have made that correction.

I’m not sure what your question is about GAAP. This post is about the non-GAAP measures that Overstock used.

By: Robin D'angelo

Robin D'angelo — Sun, 02 Sep 2007 20:34:23 +0000

Yikes! I didn’t realize everyone would be able to see my email to you. But it’s ok I guess.

Now that I know that, let me ask another question…
your article says:
“he used something he called “adjusted EBITDA,” which is another term for “I’m making up a number that makes us look good.”

I just re-read the call and nobody ever said that. You should make a correction. gaap but that’s not true either. It was all in there. In fact gaap reporting came first. Did you read the transcript? By what you’ve written it doesn’t seem like it. Sorry if I sound rude. Maybe you should have a link so peopke can read it for themselves.

By: Tracy

Tracy — Sat, 01 Sep 2007 23:50:07 +0000

Patrick says “EBITDA less restructuring costs.”

By: Robin D'angelo

Robin D'angelo — Sat, 01 Sep 2007 23:39:53 +0000

I’m trying to find where Patrick Byrne said “adjusted ebitda” but can’t find it. Where did you find it?

By: Jim Smith

Jim Smith — Mon, 20 Aug 2007 20:03:07 +0000

Well done Tracy. The only question in my mind is where is the SEC? Byrne’s numbers game has been going on for several years now, yet nothing has been done to date.