Patrick Byrne, CEO of Overstock.com Is a Crook, According to Himself

Posted on May 30th, 2008

According to a transcript of an interview that Overstock.com (NASDAQ:OSTK) CEO Patrick Byrne did with CNBC in 2004, he is a crook. Here’s the relevant portion:

Interview: Patrick Byrne, chairman and CEO of Overstock.com, discusses the company’s revenues and earnings

23 April 2004
CNBC: Kudlow & Cramer

Mr. BYRNE: Well, first of all, I’m all about gap [sic]. I have been so critical of the companies that do–I don’t believe in one-time charges; I don’t believe in EBITDA. If somebody talks EBITDA, put your hand on your wallet; they’re a crook.

Well, Patrick has been doing an awful lot of talking about EBITDA. And not only is he talking about it, he’s presenting blatantly false and overstated numbers when talking about it.

I agree with Patrick: He is a crook.

Related posts:

  1. Overstock.com is doing better if EBITDA is worse than they reported?
  2. Patrick Byrne, child CEO of Overstock.com
  3. A little sleight of hand by Patrick Byrne, CEO of Overstock.com
  4. Sarbanes-Oxley and informants (and the Overstock.com and Patrick Byrne connection)
  5. If Patrick Byrne Leaves Overstock.com, What Excuse Will the Company Have?

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