T-Mac: #Komenfail
Articleman as Particleman: The Science of Newt/RINOs
Newt Sees Shadow, Crawls Back Into Hole: Six More Weeks of Primaries On Way
|
T-Mac: #Komenfail Articleman as Particleman: The Science of Newt/RINOs Newt Sees Shadow, Crawls Back Into Hole: Six More Weeks of Primaries On Way |
Read |
While it’s all fun and games with the pretend tough guys over at Overstock.com, Patrick Byrne and crew have done all us financial layman a favor – they’ve made the term “Cookie Jar Reserve” easier for us to understand. Yesterday, Overstock.com – working on deadline – restated their 2009 financial report.
A Cookie Jar Reserve is an illegal practice when when a company under-reports
income during an earlier reporting period in order to inflate income for future reporting periods. It is a practice that misleads the investors of publicly traded companies like Overstock.
From Overstock.com’s restatement:
“Correction of these errors is expected to shift approximately $1.7 million of income recognized in fiscal year 2009 back to fiscal year 2008.”
Sam Antar – he of the Crazy Eddie Fraud scheme who was profiled here – has long been asserting publicly that Overstock.com has been cooking the books in this way. Antar has been vilified, threatened and mocked non-stop by Byrne and his PR shill/Partner-in-crime Judd Bagley. But this last restatement vindicates him, and shines an even greater light on the issuer retaliation tactics of Overstock.com.
Last year, I wrote a post titled “For Patrick Byrne and Overstock.com, the real story is in the financial reports.” I led it off thusly:
Overstock.com CEO Patrick Byrne has had a busy week, attacking messengers and filing reports. As should always be the case with Byrne and Overstock, the real news goes on top – Overstock’s financial reporting.
And the song remains the same. Because while Byrne’s rants about naked short sellers and his blatant attacks on any who question his accounting may be all fun and games, it is pure diversion. What matters is the financial reports. And Byrne’s guilt is consistently written all over them.
–WKW
Crossposted at William K. Wolfrum Chronicles
Huffington Post - A. Terkel/R. Grim begins report with:
WASHINGTON -- At a private three-day retreat in California last weekend, conservative billionaires Charles and David Koch and about 250 to 300 other individuals pledged approximately $100 million to defeat President Obama in the 2012 elections.
and report includes:
The source told The Huffington Post that they lamented the direction the conference has taken over the years. They said it used to be about "conservative strategy" and building a movement, but now it was mostly an "alpha male" spectacle focused on fundraising to beat Obama.
This is downright frightening.
If I could offer advice to a young rebel, it would be to rummage the past for a body of thought that helps you understand and address the shortcomings you see. Give yourself a label.
Effective rebellion isn’t just expressing your personal feelings. It means replacing one set of authorities and institutions with a better set of authorities and institutions. Authorities and institutions don’t repress the passions of the heart, the way some young people now suppose. They give them focus and a means to turn passion into change.
As if the socio-political change is a matter of removing one set and plugging in the other set.
In the end, all Brooks once wants to do is point to the kids of today and say "aren't they being silly."
What Brooks wants to avoid is the messiness that comes from delving into the change where the outcome is not known before one set out ahead of time. It wraps this up by saying those who see it in a different way are merely motivated by personal feelings, which is about as asinine as it gets.
As they say, you read, you decide. Preview:
They'll still turn down Planned Parenthood again next time because of the supposed pass-through grant. Unless of course, Nancy Brinker was lying last night. So which is it?
“This represents nothing new. We have known and have reported that they are continuing five grants through 2012. This is a reference to that. The second clause about eligibility is certainly true. Any group can apply for anything. It does not mean they are going to get anything,” Ruse told LifeNews.
Geez, is the 'surrender' a trojan horse? Or in fact, not even a surrender, since ongoing current funding was not being stopped. According to this, it's all about the future funding processes, which is still not committed. Hmmm.
Once again, as ever, this bill (as many legislative actions) provides only the facade that our Nation's leaders are legislating what the country needs and holding themselves to the same standards as their constituents.
In truth, the proposed legislation does not provide the same oversight and consequences for Congressional insider trading malfeasance, as the rest of our nation's citizens are subject to under current insider trading laws.
We need to stand up and speak out that this is not good enough! Please, blog - send emails - call - communicate the facts to the WH, media and your own local governmental body, asking them to pass a resolution to be forwarded to your state's congressional members as well as the WH. Don't attack either party as all are culpable. A bi-partisan coalition none should support.
Well it took longer than I thought, but just a day longer. KOMEN has reversed course.
We want to apologize to the American public for recent decisions that cast doubt upon our commitment to our mission of saving women’s lives.
Nancy Komen Brinker goes on to deny what happened and continues to say they were misunderstood, but the backlash has been enormous, and they have reversed course and apologize.
The thing is, I think this will continue to hurt them, as they've been found out, they support policies that that hurt women.
Yep, sorry Nancy, your days in the spotlight are probably over.
I will update this with some video soon.