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: The FRAUDfiles Blog

Patrick Byrne, CEO of Overstock.com is a crook, according to himself

By Tracy Coenen

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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. 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.

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Full post as published by The FRAUDfiles Blog on May 30, 2008 (boomark / email).

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