Since he’s such a passionate guy, Glenn Beck will not hesitate to call someone out if he feels that they are cheating the American people. He’s a crusader for justice, after all.
For example, Tim Geithner, Health and Human Services Secretary Kathleen Sebelius, Tom Daschle, Labor Secretary Hilda Solis and others were all called “tax cheats” by GB early last year and he also mentioned that he wouldn’t entrust his children to them (nice touch).
So it’s more than a little awkward for Becks when Politico reports that Mercury Radio Arts, his production company, has had some of its own tax troubles:
Mercury, a private corporation that lists Beck as chief executive officer and his wife, Tania Beck, alternately as vice president or secretary, since 2007 has fallen behind on its New York City business income taxes and has been cited for filing errors related to its obligations under Texas franchise tax and New York state workers’ compensation insurance rules.
Politico reports that the company owed just over $25k in back taxes and penalties but since everything has been cleared up it’s NBD. However, we do seem to have a little bit of a pot and kettle situation. What’s even more stupid is that everyone is all bent out of shape over these people screwing up their taxes even though no one was willfully trying to dodge the tax law:
Dean Zerbe, national managing director for a company called alliantgroup that provides specialty tax services to accounting firms, said Beck’s situation “has the look and feel of somebody who is confronting an extraordinarily complicated tax situation — or at least the people he’s hired to do these things are — and is trying to comply but isn’t doing everything perfectly.”
The same, however, could be said of most of the Obama nominees Beck has blasted for tax problems, said Zerbe, who called them “people who were trying to comply with the spirit and the intent of the law.”
As it has been mentioned, our tax system is complicated and that’s putting it lightly. The fact that all these people made mistakes doesn’t go so much to anything about them as Americans as it does the tax system being a giant shitshow. So if that is indeed the case, does this mean that all this name calling and finger pointing is politically motivated? GET THE HELL OUT OF HERE.
What if it’s Beck with a tax ‘accident’? [Politico]
We haven’t really touched on the Patrick Byrne’s ill-fated attempt to stalk his critics (and all their friends, acquaintances, and complete strangers) mostly because we weren’t on the list and those that were (including Gary Weiss, Sam Antar, Joe Wiesenthal, and Barry Ritholtz) are doing a fine job of pointing out how desperate, shady, and just plain fucking bad this makes Patsy, his head minion at DeepCapture Judd Bagley, and Overstock look.
We only bring it up now because we’d like to point out that it’s worth speculating on the other side of this story. Our contention is that P. Byrne, being of questionable mind and maturity, is OBSESSED with Farmville and it is his personal mission to destroy the Farmvilles of his critics and their FB friends (now who’s movin’ up in Farmville, bitches?).
This agonizing torture method will eventually wear down the haters to the point to where no one will be able to take the man, his doomed-to-fail quest to locate an auditor, and his company seriously and will thus give up their quest of destroying him.
The only other thing we can come up with is that he has an intense hatred of trite status updates and was going to expose everyone for their lack of substantive commentary but we find all his critics to be interesting bloggers, so we tossed that theory.
Grant Thornton and PwC have got to feel pret-tay good about how this all turned out. If you’ve got you own theories or thoughts on this situation, feel free to discuss them here.
The Patrick Byrne Express (via Segway, natch) pulled over from its nationwide auditor search to pen the latest triumph in his quest to refute every Overstock/Patrick Byrne hater on the planet.
Patsy’s latest letter informs us of the settlement that Overstock has reached with Rocker Partners, one of those short-selling hedge fund haters, for $5 million.
His masterpiece opens with “The good guys won” and then rambles on to tell us how he feels about pretty much everyone in financial media. And that’s what this was really all about. It wasn’t about the money, you fools. This was about exposing the anti-Overstock/Patrick Byrne contingent:
What is of vastly greater significance than this $5 million payment, however, is an examination of the cover-up conducted by elements of the New York financial press. Taking the lead was CNBC, which spent a great deal of airtime downplaying the significance of this suit, vilifying me, and smearing Overstock.
Apparently, this is just the beginning. Prime brokers, sounds like you’re next.
And just so you know, PB and his company don’t give a damn if you, the SEC, or anyone else for that matter gets bent out of shape about them spreading the truth. As Floyd Norris rehashes some of the trubs going on in casa de Overstock, he notes this little treasure from the company’s unreviewed 10-Q:
Public statements we or our chief executive officer, Patrick M. Byrne, have made or may make in the future may antagonize regulatory officials or others.
We and our chief executive officer, Patrick M. Byrne, have from time to time made public statements regarding our or his beliefs about matters of public interest, including statements regarding naked short selling. Some of those public statements have been critical of the Securities and Exchange Commission and other regulatory agencies. These public statements may have consequences for us, whether as a result of increased regulatory scrutiny or otherwise.
Sounds like fighting words to us. Go ahead and bring it, SEC. Patrick Byrne will be waiting.
Overstock Claims Victory [Floyd Norris/NYT]
Okay you guys, this Overstock.com/Grant Thornton cat fight is getting real mature.
Your humble servant Patrick Byrne has responded to Grant Thornton’s letter stating, in no uncertain terms that he is a L – I – A – R by saying, “I know you are but whatami? I know you are but whatami? I know you are but whatami?”
In the latest