Best Buy founder seeks to buy it

  • Article by: THOMAS LEE , Star Tribune
  • Updated: August 7, 2012 - 12:27 AM

Richard Schulze says he and group would pay $24-$26 a share.

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remington22Aug. 6, 12 8:08 AM

Get 'er done, Dick!

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evldedAug. 6, 12 8:12 AM

As a far distant former employee of Best Buy (Store 3!!) the company ran beetter and was a stronger brand when Dick Schulze ran the show. I hope he gets it back!

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LiberalOne46Aug. 6, 12 8:18 AM

Investors seem to think Schulze will get it done. Pre-trading has the price up almost $4.00.

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luzhishenAug. 6, 12 8:28 AM

Wait a minute - let me check my smartphone - no, I can get those shares cheaper at Amazon...

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fwallenAug. 6, 12 8:39 AM

Best Buy has the same problem we have: Show Rooming. We own a building pay real estate taxes, collect sales tax, pay high credit card and debit fees, hire knowledgable staff, make contributions to the HS band, hockey team, and fifty other charities. Then some smart person comes in asks a lot of questions about our products and then snaps their smart phone, thanks the staff and out the door. We can not sustain our small business if this continues. We are actually thinking of removing the UPC codes to at least make it difficult or charge admission that we'd refund if they buy!

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dmay88Aug. 6, 12 9:00 AM

Schultze is the best guy to turn this company around. He no doubt has lined up plenty of investors to help him with this take over. I hope he succeeds.

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ReichertAug. 6, 12 9:11 AM

Schulze himself could be buying them on the open market to help grease the skids a bit..explaining the $4.00 per share increase, which is still a discount from what he would be paying directly.

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Tinye67Aug. 6, 12 9:15 AM

I hope Dick gets it back and shreds that place of the arrogance that has infested the place over the past 10 years.

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mnrunleftAug. 6, 12 9:29 AM

@fwallen - Charging admission to get into a store is the best way to kill foot-traffic and go out of business in a hurry especially for company like Best Buy who carries CDs, DVDs, video games and many other items anyone can also go into their local Target or Walmart to buy if they are looking for instant gratification on their purchase or better yet simple download off of iTunes without ever leaving home.

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stingballAug. 6, 12 9:32 AM

Way to go, Dick! I thought you were treated badly by the board when they forced you to resign. I mean, the punishment didn't fit the crime, especially for the man who founded the company and is more responsible for its success than anyone else. Buy the company back, fire the board members who treated you so badly, and remake the company with your old successful team. Oh yeah, make sure you always get rid of the current CEO "Mike" Mikan. The company does not need a CEO with no retail experience, no matter how badly he wants the job. Thanks, Dick!

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