Cyber Monday and OSTK

OSTK -- 20% Discount?

CNN Lou Dobbs Reported:

The Wall Street is waiting for the Black Monday retail sales number. According to the early estimates, the un-official Christmas holiday start shopping is surprisingly strong, Black Friday sales jumped 8-9% over last year!

At the same time, people are celebrating the first official "Cyber Monday", the online e-retailers have been pushing special offers and promotions to draw consumers.

On Friday, the biggest shopping of the year, regular retailers sold over $10 billion gifts/products in their shopping malls and department stores.

Expert estimates that the online store will sell nearly $700 million consumer products on Cyber Monday, enjoy 20% increase year after year. One of the emerging star of e-retailer is Overstock.com (OSTK). This is from Yahoo News:

As the online holiday shopping season officially kicks off Monday, a number of retailers are hosting one-day sales or special offers for the occasion. The Monday after Thanksgiving, tagged "Cyber Monday" by the National Retail Federation, marks the first big online shopping surge for many merchants, as consumers go back to their work computers.

Toys "R" Us Inc. will hold a one-day online sale and rival eToys.com will launch a two-day sale. Wal-Mart Stores Inc. will begin five days of online-only sales.

Online jeweler Blue Nile Inc. will give customers 20 percent off purchases paid through PayPal, eBay Inc.'s electronic payment division. Target Corp., Circuit City Stores Inc., Sears Holdings Corp., Crate & Barrel, the Discovery Store and Overstock.com Inc. are among dozens of retailers offering free shipping that day.

I just turn on my radio at 1320 AM in Houston, at about 7:50 AM when I took my kid to school (oh, I missed Paul Harvey, I hated it) and Patrik was on the radio. He said (this is important, please take a note of it)

• Overstock just signed an agreement with Paypal, anybody shop on OVERSTOCK today with get free-shipping (small potato, he always gives free shipping)


• And shop with Paypal will get 20% money back! This is huge, I couldn't believe my ears, I need to check on this and tell my wife. Could somebody check it out for me?

OK, this is confirmed, I got this from his website:



I will see if I can get recording from the podcasting, and report to you later.

Here are the audio files, courtesy of Brent Clanton. I made a comment on his blog yesterday - 26th - asking for the interview audio files, he sent to me by email last night and read my comment on the Radio this morning - 27th.

Patrick Byrne Part-I

Patrick Byrne Part-II

Thank you Brent for your files and kind comments on your radio show (Houston BizRadio 1320 AM) about my blog!!!

To access Brent's blog, please look for a link on the right sidebar- "Brent Clanton" .

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