Friday, June 09, 2006

Fighting mad CEO

Patrick Byrne, CEO of Overstock.com and a former boxer-in-training who holds a black belt in karate, is fighting mad at unnamed "Sith lords'' he says are out to ruin America's small companies.

Not only is he suing, he enlisted Utah's governor and legislators to crack down on short selling, and federal regulators are investigating his complaints.

Hedge-fund managers and other institutions defend short selling as legitimate way to trade on a company's perceived shortcomings and say Overstock.com became a target only because of its poor performance.

Source

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