A few months ago, as Overstock's IT systems (and business) imploded, CEO Patrick Byrne asked his father, Jack Byrne, to take over as sole Chairman. According to the WSJ, Jack Byrne, a respected insurance mogul, has now gotten so frustrated with his son's other full-time job--Chief Short Excoriator--that he is about to resign in disgust.
"I can't tell whether this 'jihad' [against shortsellers] adds to the value of the stock or subtracts from it," the WSJ quotes the elder Byrne as saying, "but what it does is takes from Patrick's time." [Byrne] says he has voiced his concern to his son "endlessly," but so far hasn't been heeded.
As noted, we're with Dad on this one.