CEO's Corner: Overstock's Byrne on sales, short selling and his bailout contest

Online retailer Overstock.com (OSTK) reported an eight percent decline in revenue and a 20.1 percent increase in gross margins for the first quarter Wednesday, amid a challenging time for retailers.

Last week, I talked with the company's controversial CEO, Patrick Byrne, about the current environment for e-tailers, its monthly $10,000 bailout contest, and an issue near and dear to his heart: naked short selling. Some have called him crazy for targeting journalists and hedge funds for their alleged role in the illegal stock manipulation practice, but he continues to point fingers and says he has proof.