Chief Financial Officer Patrick Pichette on Thursday downplayed the competitive threat from social-networking giant Facebook Inc., arguing that the digital economy will create a “ton of winners.” “Everybody will benefit if the Web is more social,” he said. “It’s not a zero sum game.” [Dow Jones]
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But Do They Become Good Accountants?
- Caleb Newquist
- June 11, 2010
“When the going gets tough, the tough take accounting.”
~ New York Times columnist David Brooks, who says that the weak economy leads many wannabe humanity majors into the arms of the double-entry system.
Enron Whistleblower: WikiLeaks > SEC
- Caleb Newquist
- January 29, 2011
“I don’t think the SEC’s culture is one that will make this effective one iota,” said Sherron Watkins, a one-time vice president at Enron, referring to expanded protections for whistleblowers included in the Dodd-Frank financial reform law. If she was in the same situation today as 10 years ago, when Watkins approached government authorities about accounting fraud at Enron, she would probably instead take her information to an organization like WikiLeaks, Watkins said. [Paper Trail]
Does Father Know Best About Restatements?
- Caleb Newquist
- May 14, 2010
“My father brings tremendous wisdom and experience, which will help Overstock continue to grow and mature as a company. I am pleased that the Board of Directors nominated him, grateful that he was elected by the stockholders, and look forward to working with him again.”
~ Patrick Byrne, on his Dad, Jack Byrne, rejoining the OSTK board of directors.