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The vision and future of Best Buy is determined at a macro-level... it did not originate with the former CEO, nor can it be implemented by a small group. It is a long-term global plan that is backed by the heart and hard work of the employees. That is what makes the company great - the employees that work there. Downsizing and innovation are key to remaining profitable and the Plan is in place to succeed. The majority of the media and the "TMZ Style" of articles are mostly laughable and detract from the true hard work that is going on as the company moves toward the future business model. I look forward to seeing how this turns out...
Corporate raiders, no thanks. They'll buy it and bankrupt it and stores and people will lose their jobs. Yuck!
WOW just wow, Overpaid CEO with no vision how to grow company and lap dogs instead of the board of directors . This should be a lesson for other companies that think they too big to be sold piece by piece .
I expect Best Buy will go the way of Schaak Electronics, Circuit City and Ultimate Electronics. It will be sooner rather than later.
I am starting to think Tom Lee didn't get a job at Best Buy or something. At first it was just an article or two, not its an agenda.
Great comment. TMZ Style articles. Wonderfully put.
Best Buy has a wonderful business model styled after Target, in which you keep adapting to changes in the market with changes in your stores. It seems everytime I go into a Best Buy store, the store has changed. In electronics, that is exciting. In grocery, that is irritating.
The problem is that Best Buy management got greedy and went public. While people made millions, management had to shift focus to making shareholders happy first, while dealing with the consumer electronic industry which has razor-thin profit margins.
I admire Best Buy for doing the best they can for a long time, the because of the gross margins...the place is a house of cards waiting to come down under the weight of outside speculation.
I expect Amazon will take over Best Buy in a few years when Best Buy is near BK. Amazon could use some Geek Squad Precincts (new name: "Best Buy" gone) for a chain of major market outposts for service of their world-owning, brilliant sales model. Of course, none of thiswill happen, if only the legislatures of Minnesota and other states continue with their command-and-control internet sales tax whack-a-mole crusade. Wise up, lawmakers: you can't save Mayberry's Main Street from Walmart, and you can't save Best Buy from Amazon. If you want to tax an internet sale, which state gets to tax it? The state where: 1. the seller's HQ is domiciled, or 2. the customer was when he placed the order, 3. the customer wants the order shipped to, or 4. the affiliated merchant shipped the product from, yadayada. Pull up your big boy pants, Best Buy: adapt or be bested.
Best Buy's ridiculous policies have been killing it. Face it, customers need to see and experience their product before buying it. I've learned this the hard way with TV's. Best Buy also needs to drop the price of many of their movies and TV shows. I don't even bother going there now because the prices are a joke.Brick and mortar isn't dead yet.
broken glass-internet retailers with a physical store in a given state are already required to collect the tax for that state. Wal Mart, Target and Land"s End have solved the minor technical challenge of collecting and remitting the tax.
Best Buy's main problem is they don't bring anything to the marketplace that seperates them. Honestly, what does one go to Best Buy for? CD's? nope, phones? can get those anywhere, TVs? much cheaper elsewhere, Computers? you can buy those anywhere - maybe high school kids still go there to buy car audio equipment, I dunno. Best Buy has a HUGE identity problem...heck, they don't even operate their own website, in 2012, I don't know how a business can survive that way. I'm not trying to bash Best Buy, I want this Minnesota company to be succed, but it just doesn't look good folks...
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