Overstock Just Posted a Huge Loss - Information Technology Beyond, Inc. Employee Review

Overstock just posted a huge loss for the quarter. It was explained away as a problem with Google but having worked in IT I can say - the CEO is ignorant about this problem's resolution. The efforts made to correct the ranking issue are all perfunctory and won't work long term. Just look at how much more Overstock is pouring into paid advertising. That's because Google has figured out how Overstock was gaming their search engine and corrected it. - Overstock's gross profit margin is plummeting due to lack of focus on their core business. Tons of special projects not related to the core business bloat timelines and have massive opportunity costs. - Completely reactive business model- implementing huge new features less than two weeks from Black Friday is madness- especially when they're not even related to the core business of selling vetted products to people - Upper management is delusional. Runs IT like a CS organization where high turn over is acceptable. No one talented is interviewing at Overstock anymore. Recruiters give us lists of awful unqualified candidates. There is nothing being done to correct this. - Overstock spent $100m on a new building. Based on the floor plans coming up, it's going to be more crowded than or current set-up- mainly, once again, because special projects are going to be taking up lot of the new space. They're also combining IT, Marketing and CS into one building. Investors are jittery about this huge cost.