Just catching up after a long time away. Three items:
1) Myself, I have no reason not to believe Selene. Nothing in her story sounds implausible. We have thought about creating some kind of 4 hour order-trap between when orders come in and when they get sent to the warehouse, so we could cancel orders if we want. However, that means that we can cancel the 1 in 10,000 orders that folks want to cancel (if that), but cause the other 9,999 to be delayed four working hours (which means about half of those customers will get their item a day later than they otherwise would). Should we put in place a system to accomodate that 1 in 10,000, but that will cause 5,000 people to wait an extra day? Probably not. Maybe we can only have that order-trap run at night and on weekends..... Anyway, if Selene is in fact a basher, but one who is trying a new approach of sounding reasonable, then I say it is a nice change, and we should not bang on her/him. (Until she starts jabbering nonsense, as she has on the Bunny's board.) http://en.wikipedia.org/wiki/Chewbacca_defense
2) Any reaction to the Floyd Norris piece? Many people wrote that they liked it. I did not, because he once again framed everything as being about a battle with short-sellers (not about stock counterfeiting, naked short selling, undelivered trades, etc.). But, I am interested in the opinion of others.
3) Floyd told me that he had received a FOIA response regarding FTD's in Overstock. We had already seen the response that Dave Patch got that showed OSTK FTD's ended q4 2005 at 2 million, and had peaked at 2.3 million last Q4. Floyd told me that his FOIA response went through June of 2006, and showed them peaking at 3.8 million shares (and ending somewhere in the 2.X million, I believe he said). I present this here in the interests of sharing. I figure I am not violating Reg FD's prohibition against selective release of material information, both because I don't know if it's "information" (I did not see the FOIA response and only have Floyd's word on it), and it would be hard for the SEC to argue that it is "material" (after fighting for so long against releasing such information: what, are they refusing to release to the public information that they simultaneously argue is material?)
Interested to hear all thoughts.
And let us play nice with Selene. If she is well intentioned or not, at least she is civil, and the miscreants can do us no harm as long as they do not reduce this board to a Yahoo! equivalent.