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This morning, a certain sub-sector of the financial blogosphere is abuzz over the press release that Overstock.com (OSTK) put out late yesterday announcing that they had fired its outside auditor, who had just been hired earlier this year, and were filing an “unreviewed” 10-Q. Here’s a snip, which starts with a quote from Friedrich Nietzsche: [...]
After the public learned that the Obama girls wore J. Crew-designed coats for their father’s inauguration, the company enjoyed what became known as “the Obama bump.” Sales soared – especially after the company crowed about its connection to the First Family – and online traffic spiked so high that the company’s web site crashed. The [...]
With the news yesterday that some form of the public option for healthcare appears to be moving forward, we can probably expect more companies to start including warnings like Walgreen (WAG) did in the 10-K it filed yesterday: The Federal government has been considering proposals to reform the U.S. health care system. These proposals may [...]
Yesterday, Pacific Sunwear (PSUN) announced that it had hired Gary Schoenfeld, the CEO of Vans Inc. and that Sally Frame Kasaks would be stepping down at the end of the month. But the outgoing CEO will continue to collect her regular pay check from PacSun through Jan. 31, 2010 according to the agreement attached to [...]
Along with the daffodils and the start of baseball (and one of these days, warmer weather) comes another rite of spring: the Chairman’s letter. While Warren Buffett’s annual letter is always held up as an example, most of them — as we footnoted last week — are either full of happy-talk or a long boring [...]
