Is Overstock.com overstocking?
Not everyone is lamenting the economic collapse. Patrick Byrne, CEO at Utah-based Overstock.com is on a buying spree following the free fall in consumer spending. Byrne says he is buying up piles of stock left when panicked stores canceled their holiday orders. He is also taking advantage of some recent store liquidations.The Associated Press reports that Byrne grabbed 26,000 comforters from 20 Chinese manufacturers that had already stitched the quilts but had not shipped them before Linens 'n Things liquidated.
"We are getting a ton of apparel, handbags, shoes," Byrne says, and even big-ticket items, such as flat-screen TVs.
Of course, the risk remains that even Overstock.com's deep discounts will fail to open the wallets of anxious consumers.
5 Comments:
Patrick Byrne is a dork.
Ill never buy anything from a Pro Voucher Doosh like Patrick Byrne.
We should celebrate the capitalists who also generously give back to their communities. They employ our children, help fund our schools, make for a more charitable society, and make us rethink the world around us. I may not always agree with Mr Byrne, but I am grateful we have people like him in our community.
I agree with anon #1 and frenette: after Byrne's little WATB tirade about how all Utah voters are teh stupid after we didn't like his pet voucher scheme, I wouldn't buy anything from his outfit if it was the last place on earth. He can go out of business and live in the gutter for all I care.
He was, as you are, stupid for hating on people who have a different view on political topic that you wish to pursue.
Overstock employs people, people with families, etc., to wish for their demise is pathetic. Disagreeing with someone is fine, that is what should be done... everyone thinking the same would be boring.
I don't hope his business goes under because of the people he employs, just as if I don't agree with you wish your employer would go out of business.
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