A "Victory" for Overstock.com
Overstock.com avoided having its lawsuit dismissed this week. Contrary to what Overstock's attorney says, though, this can hardly be considered much of a victory. It means Overstock's people get to keep pursuing this lawsuit instead of pursuing business. Even if Overstock manages to prove that Gradient Analytics and Rocker Partners did something wrong, it doesn't change the fact that Overstock's business model and fundamentals are questionable at best (which also makes one wonder what kind of damages Overstock will be able to prove against Gradient and Rocker since there is a whole barrel of reasons Overstock's stock price has dropped like a shot quail). CEO Patrick Byrne and his minions should be focusing on business problems, but he would rather spend his time tilting at this windmill. We already have a local example of what happens when management would rather focus on lawsuits than business: SCO lives in bankruptcy court.