[Congressional Record Volume 150, Number 103 (Thursday, July 22, 2004)]
[Extensions of Remarks]
[Page E1510]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        HONORING OVERSTOCK.COM FOR THEIR EFFORTS IN AFGHANISTAN

                                 ______
                                 

                           HON. CHRIS CANNON

                                of utah

                    in the house of representatives

                        Thursday, July 22, 2004

  Mr. CANNON. Mr. Speaker, I rise today to honor and recognize a Utah 
company for the help it has given to the recently freed people of 
Afghanistan.
  Overstock.com, founded in 1999, is one of Utah's best performing 
companies and a leader in liquidating excess inventory through the 
Internet. For nearly five years, Overstock.com has operated on 
principles of value investing and fair deals, which is why it has 
become a leader on the Internet.
  Overstock.com has also done great work abroad as well. Worldstock is 
the socially responsible goods department of Overstock.com that 
contracts with skilled craftspeople in developing countries and helps 
them sell their products. I am proud to say that this Utah based 
company is now Afghanistan's largest private employer. The Ministry of 
Commerce in Afghanistan reported that Worldstock has made it possible 
for 1,400 Afghans--90 percent of them women--to earn a living. This is 
a quite a feat, considering that just a few short years ago Afghanis, 
especially women, were living under the oppressive Taliban regime.
  In Afghanistan, Overstock.com has been able to utilize technology to 
provide employment for this developing country. Overstock.com has given 
Afghanis the skills needed for long-term business success. 
Additionally, Overstock.com has said that it will not make a profit of 
more than one percent on goods sold through its Worldstock division. 
This policy has allowed women, prevented from working under the Taliban 
regime, to now flourish. Global trade and commerce are now a reality to 
the Afghani people thanks in part to the efforts of Overstock.com.
  I would also like to recognize the founder and CEO of Overstock.com, 
Dr. Patrick Byrne. Being a three-time cancer survivor has not slowed 
down his altruism, productivity or creativity. It is Dr. Byrne's vision 
that drives Overstock.com and its work in Afghanistan. In 2003, Dr. 
Byrne hired Neelab Kaniska, an Afghan woman who fled her homeland when 
she was a child, to manage Worldstock. This position allowed Neelab to 
return to her native country and work with local artisans and provide 
them with the technological tools that now employ over 1500.
  Overstock.com and Dr. Patrick Byrne understand the importance of all 
markets whether it is the individual consumer, small business owner, or 
an artisan in a developing country. I applaud their efforts and their 
representation of Utah, American business, and the American spirit.

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