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***mandy*** · 12-09-2005, 01:06 PM,

Quote:President Joe Shirley, Jr. of the Navajo Nation reported today that Worldstock™, the department within Overstock.com® (Nasdaq: OSTK) that supports social entrepreneurship, is now one of the largest sources of private employment on Navajoland, an area which spans 27,000 square miles across Utah, Arizona and New Mexico.

Patrick Byrne, president of Overstock.com, founded Worldstock in October of 2001 to reduce global poverty. Unlike traditional charities or relief organizations, Worldstock does not provide handouts. Worldstock contracts with skilled craftspeople in developing countries and helps them establish long- term businesses for selling their products through the Worldstock tab at www.overstock.com. On average, artisans receive 60 to 70 percent of what consumers spend in Worldstock.

full press release: http://www.shareholder.com/overstock/Rel...eID=181354

Jen · 12-09-2005, 03:09 PM,

Considering the majority of my patients in the interior of the rez didn't even have running water, this is very significant for them. If the Navajos can be pulled into the world of ecommerce, than just about anyone can.

bargainbloodhound · 12-09-2005, 03:33 PM,

Quote:On average, artisans receive 60 to 70 percent of what consumers spend in Worldstock.

Actually that's a great percentage compared to what other retailers pay artisans for their work

...and if you compare it to the very small percentage of donated funds that actually reach recipients after everyone takes their cut when people give to "traditional charities or relief organizations" like the United Way or eBay's partner MissionFish it is amazing.