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Overstock's Mouthpiece at Forbes

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March 01, 2007 – Comments (2)

Big surprise.

http://www.f...28naked.html

Liz Moyer, of Forbes, puts out another piece defending poor old Overstock, a victim, she believes, of naked shorting.

Moyer is, of course, the same journalist who pumped Pegasus Wireless and bought its "naked short" story hook, line, and sinker, as well as the whopper about the ground-breaking video-networking device that's neither groundbreaking nor, as far as anyone can tell just now, much of a device. Since that stock rose on a wave of undeserved attention and some much-hyped acquitions a year or so ago, it's cratered, and CEO Jay Knabb has decided to turn his back on those same Asian manufacturing facilities and move the whole shebang to Grand Bahama, the economic sense of which has never been, to my knowledge, fully explained.

But I digress, this Moyer piece is much more even-handed than some of her past tripe, but it still features the tearful "I was betrayed!"-type quotation from Byrne. It does not feature the offer for a fistfight that Byrne, according to the Salt Lake newspaper, appears to have extended during the tense meetings this week.

But then, that doesn't surprise me. Moyer's angle all along has been to portray Byrne as a victim. In reality, he's a victim of his own hubris and ineptitude, and nothing more. Moyer, Byrne, and a few dozen very vocal naked short loons are pretty much the only people left who can't see that.

2 Comments – Post Your Own

#1) On March 01, 2007 at 2:51 PM, Partner24 (< 20) wrote:

This is the kind of work that TheStreet.com readers seem to prefer. They're pretty used with your kind of commentaries. Why not faxing them your résumé?

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#2) On March 01, 2007 at 3:07 PM, TMFBent (99.82) wrote:

:)

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