Less than 30 minutes after online retailer Overstock.com started accepting payments in bitcoin, Jason Steele used the digital currency to buy a new case for his smartphone. Steele, a 32-year-old computer programmer from Atlanta who has been using bitcoin since March of last year, wanted to see if Overstock's new system actually worked, but he was also interested in, well, fighting the good fight. Overstock is the first major online retailer to accept the digital currency, and Steele was doing his part to help push this new-age technology even further into the mainstream.
Following a California court decision, online retailer Overstock.com is facing significant changes to the way it compares prices on its site, and the company believes the court's decision could cause a ripple effect across the rest of the retail world. Today, when offering a price comparison for a particular product sold on its site, Overstock compares its price to a price recently offered by a single competitor — an approach that overstates the extent of the company's discounts, according to a lawsuit from a group of California district attorneys.
SALT LAKE CITY — Online discount retailer Overstock.com held its annual meeting and made changes to its board of directors. Stockholders re-elected Joseph J. Tabacco and elected Jonathan E. Johnson III to the company's board for terms of three years...