29 Jul

Patrick Byrne, child CEO of Overstock.com

At least Patrick Byrne, nutty and incompetent CEO of Overstock.com (NASDAQ:OSTK) can admit that he’s nothing more than a child who is playing grown-up with the shareholders’ money. From today’s press release:

“Jonathan has developed into a tremendous asset for our team,” said Patrick Byrne, chairman and CEO of Overstock.com. “He has gone from simply providing adult supervision for me, to being a fine, aggressive contributor across many facets of our firm’s operations. He has grown from being the lawyer working in business to a businessman who happens to be trained in the law.”

Who says something like that in a press release about an executive promotion? Apparently Patrick Byrne does, since he appears to have absolutely no professional judgment.

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