With regards to your statement about Hewlett-Packard and a board member leaving; the reason for groves leaving was disclosed in the 8-k, therefore I doubt they have to disclose it in a PR.
I have my doubts about that. The press release was distributed by the media and makes no mention of a fairly significant fact. It does include a statement from Byrne indicating that everything was hunky dory between them. I find that misleading.
Overstock may want to consider publishing BOD turns along side Inventory turns as a key business metric.
Of course, because there is already a foul stench wafting out of Utah (and has been for some time), it is impossible to take the resignation of Grove at face value. And it is also impossible to interpret in a positive way the dumping of shares by the remaining Audit committee member, especially if the web posts are true that the sale was for nearly all her stake. The proximity of the stock sale to her Audit colleague’s resignation is quite intriguing. What did she know, and when did she know it? Curious timing don’t you think?
Mr Brynes seeming mentor-like close pal left rather abruptly, along with a terse farewell rather than the flowery accolades one would expect of a pal (unless I missed something).
Here's to wishing flies on walls could talk, because the likelihood that there is a whole lot more to this tale is high.
Happy Memorial Day
Overstock.com, Vonage, and "Conversion Solutions Holdings Devices" will always hold a special place in my heart as living examples of what to avoid in a stock. But all for different reasons.
This comparison is not fair to Vonage, which is simply a money-losing failed idea.
Overstock.com -- what can I say that some fearless and excellent financial journalists have already said.
Conversion Solutions though is Exhibit A of why Penny Stock share purchases should be restricted to qualified investors. This would eliminate spam, fraud, and god knows what else.
CSHD is the most insane penny stock soap opera on the internet. Email me for links
Gary:
About your blog post title:
"Will the Last Overstock.com Director Please Turn Out the Lights?"
You are assuming that there will be enough money left over at Overstock.com to pay the electric bill.
Respectfully,
Sam E. Antar (former Crazy Eddie CFO & convicted felon)
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