Re: In 90 contiguous words of Gary I find 1000-fold error, a mischaracterization, a fabrication, and two bald lies
Wow, Hannibal, another fantastic message for the Faithful!
It's interesting that you mention the 8th grade, as you seem to have descended from an 11th-grade level of logic and debate to something much more appropriate to the middle school level.
So, running your company into the ground is a "mischaracterization"? How so? I don't want to mischaracterize anything, so let's reiterate those working capital levels: end of 2004 - $
267,640; 2005 - $79,561; 2006 - $59,475; 2007 - $62,621; 2008 - $39,679. (It's getting a little thin, isn't it? "Holding some pretty good cash flows for the last couple years" seems an odd characterization of those numbers, but I express no definite opinion.) Then there are those stockholder equity numbers:
2004 - $169,504; 2005 - $89,148; 2006 - $56,367; 2007 - $18,212; 2008 - ($2,985). All in thousands, of course, and ending with those embarrassing parentheses. It appears that Overstock has disposed of about $172.5 million in capital just in the last few years. I certainly hope that doesn't mischaracterize anything, since there's not much opinion involved in stating those numbers. (How are you getting along with Wells Fargo these days?)
It does seem to me that you'll have to stay satisfied with impressing high school students, and mostly those below that level, if that last message is the best you can do--but you know your audience.
Have a nice quarter and then check back with us, you hear?