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If A Tree Falls at a PCAOB Public Meeting About Partner Naming and No One Cares, Does It Make a Sound?

Posted on by Adrienne Gonzalez

"The day after Thanksgiving is known in America as Black Friday – the opening of the pre-Christmas shopping season, when merchants launch midnight sales and dubious oddball discounts, and hordes of turkey-stuffed consumers storm the malls like barbarians at the gates.

This year the 4th of December should go down in Washington as Dull Grey Wednesday – the day that Jim Doty, chairman of the Public Company Accounting Oversight Board, hosted a public meeting to release his long-announced and little-awaited plan to require the auditors of US public companies to identify their lead partners by individual name.

By contrast to the chaos in the malls, hordes of investors and other financial information users yawned with indifference and turned back to shopping and fantasy football." [Jim Peterson at Re:Balance]

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Will a Boycott of Overstock.com Thwart Patrick Byrne’s Auditor Hunt?

Thumbnail image for patsy_byrne.jpgGuys and gals, we here at GC are concerned about something. Something other than who the next face of Accenture will be (honestly we’re excited about Chuck’s commanding lead).
No, we’re concerned that your humble servant and Farmville enthusiast Patrick Byrne is going to be unable to find an auditor for Overstock.com. The company has until January 18th to pull something together so the NASDAQ doesn’t delist them and if things continue the way they are, it’s going to be hello Pink Sheets.
Maybe things wouldn’t look so grim if PB hadn’t blown off CNN. Or if he hadn’t pissed off every single financial journalist and blogger by getting too friendy.
But now that Barry Ritholtz has called for a boycott, any hope for finding the next auditor to put the stamp of approval on OSTK’s financial statements is fading.
Wait! Gary Weiss has his doubts: “As for that boycott: great idea, except that with Byrne manipulating the financials, how would you know if it is having any impact?”
Whew! There’s still a glimmer.
Boycott Overstock.com [The Big Picture]

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