Best Buy's founder taps ex-CEO for buyout

  • Article by: THOMAS LEE , Star Tribune
  • Updated: July 30, 2012 - 8:53 PM

Richard Schulze has recruited former CEO Brad Anderson to lead his executive team should he reclaim control of the retailer.

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spartan227Jul. 30, 12 9:20 AM

The problem is... best buy service is terrible. The staff are young and have zero training. the benefit to talk to a live person is just not there. At this point the consumer must do all the research and then at that point you might as well buy the item over the internet.

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aaronakJul. 30, 12 9:31 AM

The only way to restore Best Buy to its former glory days is to make it a fun destination for its customers. I think this requires two things. The first thing is the company needs to stop selling the commodity electronics you can find online or at its competitors, and focus on a merchandise mix of interesting and specialty items. Sort of like a Sharper Image store but much more practical and inexpensive. Secondly, it needs to have a much better culture for its employees. If Best Buy was a coveted place to work, that enthusiasm and honor would simply attract customers. Right now it seems merely like people working there to earn a paycheck, not because they actually want to be there. Compare this with Apple store employees. It's fair to say most of them probably really appreciate their jobs.

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nordic924Jul. 30, 1210:24 AM

sparton227- continue you pattern of using the internet to make your purchases and watch your friends and neighbors lose their jobs because of YOU. I, support local businesses and don't let the small things (poor customer service) alter my decision to contine to support local businesses. This goes for all you out there in cyber world who sit behind a computer and complain about local companies. Best Buy is a great company. Mr. Schutz is a smart man and I hope he is successful in taking his company over.

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Tinye67Jul. 30, 1210:28 AM

I hope he pulls it off.

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effyouJul. 30, 1210:43 AM

Retailers primary value to a customer is customer service - especially with a commodity product. If I can't get any assistance from someone in a store - I'll use Home Depot as an example - I'll choose to go to Lowe's. To sparton227's point, if you have to do all of the legwork yourself, BBY's only value today is geography (convenience) and stock (availability). Is that enough?

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mballard1983Jul. 30, 1210:56 AM

nordic924: What's the problem with someone going over the internet to purchase? They don't have to waste time going to a store and waste fuel. It's usually cheaper to purchase over the internet as well. Are you mad because people are buying smart? Anybody can buy from wherever they want to. Who cares if that's over the internet. If Best Buy can't adapt then that's their issue.

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timandtiaJul. 30, 1210:59 AM

It is really time for Schulze and Anderson to step aside and let others run the company. They had their "glory days" with the company, but now please let it go. Yes, the company does have their problems, but let someone else take care of it.

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rok919Jul. 30, 1211:26 AM

What also would help is to get the tax playing field levelled. If I can save 7, 8, 9% by buying online, that is a significant amount of $ when talking about a $2500 TV.

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ford1949Jul. 30, 1211:29 AM

Makes perfect sense. Two people that did nothing to prevent all of this from happening during their tenure with the company should be trusted to turn things around now. Retire already.

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mnhockey99aJul. 30, 1211:32 AM

@nordic924 - I'm all for supporting local businesses... but why WASTE money buying things from Best Buy if you can get them MUCH cheaper from Amazon or another retailer (online or not)? As an example... their accessories (cables, chargers, cases, etc.) are WAY overpriced. Why spend $50 for a cable at Best Buy when I can buy it from Amazon for a third or a quarter of the price? Just because they are local doesn't mean they shouldn't be competitive with their prices.

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