Posted by: beckbamberger | December 3, 2008

Overstock’s great PR move

So the economy is down, you’re a discount retailer, and the shopping season is on your doorstep. What to do? The CEO of Overstock, Patrick Byrne, decided to give $50,000 in a contest named the Family Bailout Plan. And guess what? A family is happy and the media is all over this heart-warming move. PR stunt or not, it’s dead-on timely, both for the economy and the shopping season.

To Fatrick’s comment-ah, you are correct-good point. Now though-does the media pick this up?

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Responses

  1. Not so fast. The payment is made *to creditors* but the family must still come up with the cash to pay the taxes on the 50K. So unless they have 13K or so lying around, they’ve got to scrape up that money. I’d say that this has the potential for being a public relations disaster.


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