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: The FRAUDfiles Blog

Overstock.com finds one more way to sell less

By Tracy Coenen

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Overstock.com (NASDAQ:OSTK), the perpetual money-loser run by trust fund baby Patrick Byrne (who doesn’t really have to care if the company’s investors lose all their money), has found another way to sell less. The latest big announcement is that they’ll stop selling anything with fur:

However, Overstock.com’s decision comes during an upswing in demand for fur. Halting its retail sales will be costly. According to Byrne, Overstock.com estimates it will lose up to $5 million in pelt revenues.

What’s another $5 million for a company that’s been bleeding red ink since it went public? Patrick Byrne, thanks for providing non-stop entertainment.

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Full post as published by The FRAUDfiles Blog on July 11, 2008 (boomark / email).

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