PDA

View Full Version : From CEO of Overstock.com - rp supporter




surf
01-06-2008, 12:21 PM
A friend passed this on to me (if this is a duplicate thread - i appologize)

Dear Customer,

Because Overstock advertises on Fox channels, Overstock has been receiving calls and email messages about Fox News decision to exclude Dr. Ron Paul from the upcoming January 6 forum in New Hampshire, a decision that seems especially rank given the fact that in yesterdays Iowa Caucus Dr. Paul out-polled Mayor Giuliani by a factor of 2.5:1. I always enjoy hearing from our customers, particularly those who display political commitment of any flavor, and I thank them for their calls and emails.

In October Dr. Paul came to Utah, and he and I visited for an hour in my office. After that meeting, I gave him the largest donation I could under federal law: it is rare to meet a politician who understands the Constitution, and rarer still to meet one who thinks it binds the government meaningfully (I would give Dr. Paul more were there not now a federal blackout on free speech known as "McCain-Feingold"). In a television interview last week I stated that, while for the first time in my life I felt there are several candidates qualified to be president, my #1 choice would be Dr. Paul.

That said, I believe that pulling Overstocks advertising from Fox would represent an inappropriate conflation of my personal politics with my corporate responsibilities: thus, fellow supporters of Dr. Paul, my answer to you is, "no." However, I have contacted Fox and told them that, as a major advertiser, I believe it is unconscionable of them to exclude Dr. Paul from participating in this forum on January 6, thus denying our polity the opportunity to make an informed choice.

Respectfully,

Patrick M. Byrne, Ph.D.

CEO, Overstock.com

PS If you wish to join me in asking Fox to refrain from trying to warp the public discourse, email Fox Senior Political Producer Marty Ryan

PPS If you wish to learn more about (or support!) Dr. Paul, click here

PPPS There is no particular reason you should be interested, but in case you are, in the last several weeks I gave PBS and NPR interviews where I discussed these political views.

KUED PBS Television
KUER NPR Radio
(You can also find and comment upon these on my blog, www.deepcapture.com)

RP-Republican
01-06-2008, 12:28 PM
Yeah but he still won't pull advertising from Fox News so we need to help align his personal politics with his corporate responsibilities by boycotting Overstock.com

jp5065
01-06-2008, 12:43 PM
That's bull.

If he was a real supporter he would drop his advertising... dropping his ads on fox isn't going to kill his business, there are plenty of other channels to advertise on.

Knightskye
01-06-2008, 12:53 PM
Yeah but he still won't pull advertising from Fox News so we need to help align his personal politics with his corporate responsibilities by boycotting Overstock.com

No.

jp5065
01-06-2008, 01:11 PM
Yeah but he still won't pull advertising from Fox News so we need to help align his personal politics with his corporate responsibilities by boycotting Overstock.com


Here is how I see it...
We were boycotting Fox News advertisers.
In hopes that they would drop there ads on Fox News.
So Fox News would be hurt by the loss of revenue, and maybe ad publicity.

That's how a boycott works.. right?


So why would we stop boycotting someone when they release a statement saying they will not drop ads???


Secondly, and a BIG second.... he maxed out his donations for Giuliani, not Paul!!!!


this is from open secrets.org:



BYRNE, PATRICK M
PARK CITY,UT 84098

OVERSTOCK.COM/C.E.O. 9/11/2007 $5,000 Campaign for America's Future



BYRNE, PATRICK
PARK CITY,UT 84098

OVERSTOCK.COM/CEO 9/25/2007 $2,300 Smith, Gordon H



BYRNE, PATRICK M MR
PARK CITY,UT 84098

OVERSTOCK.COM/C.E.O. 3/15/2007 $2,300 Giuliani, Rudolph W

DrRich
01-06-2008, 01:19 PM
Yeah but he still won't pull advertising from Fox News so we need to help align his personal politics with his corporate responsibilities by boycotting Overstock.com

thats ridiculous.

dawnbt
01-06-2008, 01:20 PM
Here is how I see it...
We were boycotting Fox News advertisers.
In hopes that they would drop there ads on Fox News.
So Fox News would be hurt by the loss of revenue, and maybe ad publicity.

That's how a boycott works.. right?


So why would we stop boycotting someone when they release a statement saying they will not drop ads???


Secondly, and a BIG second.... he maxed out his donations for Giuliani, not Paul!!!!


this is from open secrets.org:

LOL! Great find! Way to see through the BS!

surf
01-06-2008, 01:45 PM
Be careful: 4th quarter (October) is when he says he maxed out for Ron. Not reported yet.

jp5065
01-06-2008, 02:32 PM
Be careful: 4th quarter (October) is when he says he maxed out for Ron. Not reported yet.

Good point...

I still think it is dumb if he supports Paul, but won't pull ads from Fox News.

Does anyone know when the Q4 numbers will be out?

Rhys
01-06-2008, 04:15 PM
That's bull s.

Corporations were given rights as individuals. Least he can do is act like one, and not a corporate whore.

It does no good to pay democracy lip service... from any American, even a corporate entity American.

Son of Freedom
01-06-2008, 04:15 PM
I made my own decision.

feedback@overstock.com

I just read the CEO's decision about not intermixing personal feelings (morality) with business decisions. I'll help you make it a business decision. I will never buy from this company again.

Sincerely,

My Real Name

Somebody_Else
01-06-2008, 05:30 PM
Overstock.com is having enough trouble staying in business. They don't have the option to stop advertisements anywhere.

surf
01-06-2008, 05:50 PM
Give the guy a break. Did you see what he suggests: send an email to marty.ryan@foxnews.com
sorry, the links didn't copy well, but on the message he sent out he went out of his way to highlight his support for Ron and for our case. i think Somebody_Else's assessment is spot on

Spideynw
01-06-2008, 05:55 PM
Why would he pull advertising? Someone else would just get the air time at a lower price. Seems like a foolish business move to me.

AlexM
01-06-2008, 06:45 PM
Overstock.com is having enough trouble staying in business. They don't have the option to stop advertisements anywhere.

Yes, they do. There are hundreds of other places they can advertise.

AlexM
01-06-2008, 06:46 PM
Why would he pull advertising? Someone else would just get the air time at a lower price. Seems like a foolish business move to me.

Why would he advertise? Someone else would just get Ron Paul supporters' business. Seems like a foolish business move to me.

beachbum721
01-06-2008, 07:29 PM
That's like saying, "I'm a Christian" while walking around, lying, stealing, and committing adultery. This "Do as I say but not as I do crap" doesn't fly very well with me. He's got to drop the ads or he's no supporter.

louisiana4liberty
01-06-2008, 07:39 PM
Sorry, maybe this U.S. publicly held corporation should respect the principles that our country was founded upon. I will never buy from overstock.com again.

Your support for Ron Paul is noted. :rolleyes:

USAF Vet Dan
01-06-2008, 09:36 PM
Patrick M. Byrne, Ph.D., CEO of Overstock.com said

I have contacted Fox and told them that, as a major advertiser, I believe it is unconscionable of them to exclude Dr. Paul from participating in this forum on January 6, thus denying our polity the opportunity to make an informed choice.


While he didn't pull their ad dollars from Fox, at least he did something.

Read his full response here http://disinter.wordpress.com/2008/01/05/overstockcom-boycotts-fox-news-almost/

AdoubleR
01-06-2008, 09:47 PM
I say the boycot is still legit... As was mentioned, help him make it a business decision!

louisiana4liberty
01-06-2008, 09:48 PM
Patrick M. Byrne, Ph.D., CEO of Overstock.com said


While he didn't pull their ad dollars from Fox, at least he did something.

Read his full response here http://disinter.wordpress.com/2008/01/05/overstockcom-boycotts-fox-news-almost/

We all saw his financial contribution to Rudy Guiliani on opensecrets.org. There is no way in hell you can support both Rudy and Ron Paul, it's impossible. This guy is trying to save his ass.

USAF Vet Dan
01-06-2008, 10:00 PM
I'm with you on this. If Overstock.com suffers losses from the boycott, then advertising on Fox will be bad for business. He will be doing his CEO duty to pull their ads.

Nash
01-06-2008, 10:21 PM
I don't think I agree with his assessment but to play devil's advocate here:

If he pulls advertising simply because he supports Dr. Paul that's pretty irresponsible. Whether I like it or not his responsibility is to make his company as profitable as possible for the benefit of his shareholders. Pulling his ads can potentially jeopardize this. In a way it's selfish for him to do something like that simply because he supports Paul's ideas on a personal level.

nimo
01-06-2008, 10:45 PM
No pully adds no more business sorry!

Ron2Win
01-06-2008, 10:56 PM
I don't think I agree with his assessment but to play devil's advocate here:

If he pulls advertising simply because he supports Dr. Paul that's pretty irresponsible. Whether I like it or not his responsibility is to make his company as profitable as possible for the benefit of his shareholders. Pulling his ads can potentially jeopardize this. In a way it's selfish for him to do something like that simply because he supports Paul's ideas on a personal level.
He donated 7300 to Rudy's campaign...

Beerhall Agitator
01-06-2008, 10:57 PM
byrne is a good guy. cuban gives him a lot of shit but he's a zionist and bynre has ripped on israel

nimo
01-06-2008, 11:37 PM
That's like saying, "I'm a Christian" while walking around, lying, stealing, and committing adultery. This "Do as I say but not as I do crap" doesn't fly very well with me. He's got to drop the ads or he's no supporter.


Shhhhhhh... You don't want the people learning what the current Republican "Establishment" is all about.

ronpaulitician
01-06-2008, 11:57 PM
Ask him to put together an ad.

ceakins
01-07-2008, 05:52 AM
Screw that, they know what happens, hit em in the pocket book anyways. Then he will have an excuse to his stock holders not to advertise.

jcims
01-07-2008, 06:53 AM
No.
Even a broken clock is right twice a day. To the rational adults among us it may seem juvenile and petty to boycott Overstock because Byrne didn't pull his advertising, but it is true that a business risk would be the only rational and justifiable reason for him to do so. So, despite the surprising and welcome candor in his note, i do agree that it's not enough to give overstock.com a free pass. It's a bitter pill, but i think he would have to agree as well.

Sean
01-07-2008, 06:56 AM
He donated 7300 to Rudy's campaign...


These people donate to all side so whoever wins they are covered. To me overstock.com is compliant in Fox's attempt to kill Ron Paul's chances of victory. Companies pull advertising for offenses made all the time.

santopia
01-07-2008, 07:02 AM
As a former CEO I can tell you that he has a fiduciary duty to protect his shareholders and maximize profits. This duty is first and foremost for someone in his position. If his advertising on Fox is profitable to his company he cannot pull his ads because of his personal political views.

He could be fired by the board and sued by his shareholders.

Sorry, that's how it works.

bobbyw24
01-07-2008, 08:01 AM
http://www.truthnews.us/?p=1545

USAF Vet Dan
01-07-2008, 10:25 AM
As a former CEO I can tell you that he has a fiduciary duty to protect his shareholders and maximize profits. This duty is first and foremost for someone in his position. If his advertising on Fox is profitable to his company he cannot pull his ads because of his personal political views.

He could be fired by the board and sued by his shareholders.

Sorry, that's how it works.

That's how it works unless the CEO determines that the effect of the boycott is going to create a loss of revenue. In this case, there are other channels on which to advertise. So, a boycott of any size would result in some loss of revenue. Therefore, he could justify pulling their advertisements from Fox and placing them elsewhere.

Expand on this issue. A clothing manufacturer gets public heat for using child labor in foreign countries to produce their product. Looking at it purely from a dollars and cents perspective, ten cent/hour wages = bigger profits. Does the CEO's "duty to maximize profits" extend to using child slave labor? Certainly not. Such irresponsible actions would result in consumer backlash - thereby affecting profits. This becomes a moral issue and CEOs have moral obligations. In the Fox / Ron Paul case, the CEO's moral obligation combines with the practical obligations of avoiding a boycott as well as participating in maintaining free elections. Companies don't produce as much profit in a totalitarian society. Financial support of Fox is counter to maintaining free elections and is, therefore, bad for business.

Highstreet
01-07-2008, 10:49 AM
Be careful: 4th quarter (October) is when he says he maxed out for Ron. Not reported yet.

There are many Conversions going on as people hear the message.

JustAnotherV
01-07-2008, 05:17 PM
Unfortunate that this particular CEO seems to attack mysterious hedge-fund bandits as the cause of his floundering stock price... he doesn't have the cedibility of some CEOs.

Hoevever, it's still a solid plus to have him onboard. All I can say is that as a major CEO he better be a member of the 2300 club... ;P

Bradley in DC
01-07-2008, 05:19 PM
Hi Bobby,

Thanks for supporting Dr. Paul and welcome to the forum. It's considered more polite to join an existing conversation before posting a new thread.

http://www.ronpaulforums.com/showthread.php?t=78525

Triton
01-07-2008, 06:09 PM
As a former CEO I can tell you that he has a fiduciary duty to protect his shareholders and maximize profits. This duty is first and foremost for someone in his position. If his advertising on Fox is profitable to his company he cannot pull his ads because of his personal political views.

He could be fired by the board and sued by his shareholders.

Sorry, that's how it works.Doing business with companies who are truthful to their clients is more important, from a public-relations standpoint and even from a legal/compliance standpoint. Fox News is lying to it's advertizers and to it's viewers. If I ran my business that way, I would have short term gain and long term failure. If I did business who behaved in that fashion, the same could happen.