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Print 22 comment(s) - last by KOOLTIME.. on Jun 13 at 2:03 PM


  (Source: laughingsquid.com)

Richard Schulze  (Source: msnbcmedia.msn.com)
He is also looking at possible options for his 20.1 percent stake in Best Buy

Best Buy’s chairman and founder has resigned one year ahead of schedule as the brick-and-mortar electronics store struggles to keep its head above water.
 
Richard Schulze, 71, chairman and founder of Best Buy, resigned from his position yesterday and it is effective immediately. He was originally scheduled to resign in June 2013, but has decided to leave ahead of time.
 
“There is an urgent need for Best Buy to reinvigorate growth by reconnecting with today’s customers and building pathways to the next generation of consumers,” said Schulze. “Accordingly, I have shared my views with the board and today informed them of my decision to resign as Chairman and a director, effective immediately, in order to explore all available options for my ownership stake.”
 
At Best Buy’s annual meeting last month, the new succession plan was laid out for June 2013. It was announced that Schulze would be replaced by Hatim Tyabji as chairman, but the transition wasn’t supposed to take place until June 2013. It is unclear why Schulze resigned early.
 
Schulze’s resignation comes amidst an investigation into Best Buy’s former CEO Brian Dunn, who has been accused of misusing company funds while conducting a relationship with a female subordinate. Dunn resigned from CEO in April.
 
To make matters worse, Best Buy recently posted a $1.7 billion quarterly loss. Also, in late March, Best Buy said it would close 50 of its 1,100 retail stores in order to save $800 million.
 
Schulze will be looking into other options for his 20.1 percent stake in Best Buy.

Source: Yahoo



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RE: Fantastic
By Brandon Hill (blog) on 6/8/2012 7:53:33 PM , Rating: 3
They're good for something every once in a while. For example, they had the Logitech Harmony One universal remote for $49.99 this morning.

However, deals like that are few and far between.


RE: Fantastic
By EnzoFX on 6/8/2012 8:36:45 PM , Rating: 3
Sadly those are just to get people in the store. What people need is overall competitive prices.


RE: Fantastic
By 1ceTr0n on 6/8/2012 11:17:32 PM , Rating: 2
Not to mention more then just tweenagers staff that give no better advice then whats on the damn box or what they read on the internet.

I've seen guys at my local Best Buy spend more time trying to hit on the cute girls working at the cashier stand then helping customers. No, im not joking


RE: Fantastic
By Samus on 6/11/2012 12:04:41 PM , Rating: 2
I had a raid controller fail last night, turned out to be a capacitor in a filtering circuit. Other than being slightly raised from the underside by the rubber insulator, it appeared ok, but after testing with a multimeter, the circuit wasn't putting out any voltage so internally the cap completely failed.

6.3vDC/1500uF. Radioshack, Fry's, Microcenter, even a local electronics store had no exact match.

This doesn't have a lot to do with Best Buy, but my point is, even when cost is no issue these stores can't help you even when it comes to locating what I feel is a pretty common part on virtually every PC motherboard (which is where I eventually sourced the 'donor' capacitor from)

With the quality of capacitors, or lack there of, I don't think it should require an overnight delivery from an online vendor to obtain them.


RE: Fantastic
By ppardee on 6/11/2012 4:42:26 PM , Rating: 2
Did you really need an exact match? I've always been under the impressions that caps are like hand grenades (especially if you wire them backwards) just get them near the target.

You have to consider the market. Most people don't know what a cap is. Most of those who do don't know how to test it. Most of those who do don't know how to replace it. Most of those who do aren't going to take the time to do it when they can just replace the board. In my view, if one cap has failed, the rest are sure to follow suit shortly. I just upgraded my system and found that about 90% of the electrolytic caps on my existing board were bulging.

Anyway, my point is that there are very few individuals who need individual components anymore. I used to manage a Radio Shack and I HATED the components section. They had low profit margin, where easy to shoplift, difficult to inventory and didn't get much turnover. It just isn't worth it for a brick-and-mortar store to carry them.


RE: Fantastic
By KOOLTIME on 6/13/2012 2:03:10 PM , Rating: 2
Its super tough to have competitiveness prices online vs the high over head brick and mortar stores have to endure. How to get pricing when online only needs to have a warehouse with minimal overhead, and retail stores have such huge overhead. The entire industry is going that way not just best buy.

Look at circuit city and most retail stores will be closing due to online, as retail the biggest issue with store front is commercial realestate pricing is whats putting most of them out of business.

Checked a recent retail store 1200sqft, wanted 5000 a month for it, thats more then twice what most will pay for a twice that size home mortgace space. SMall businesses cant keep up with that pricing wil low retail sales in todays market.


RE: Fantastic
By Reclaimer77 on 6/9/2012 11:31:58 AM , Rating: 2
Have you checked their online store recently? They are getting pretty competitive. Not on everything, but on some stuff I've noticed them beating Newegg.


RE: Fantastic
By inperfectdarkness on 6/11/2012 3:12:34 AM , Rating: 1
but their selection still sucks by comparison, and the brick & mortar experience is VERY much like the newegg.com adds indicate.

it's the same reason home depot's customer service took a nosedive; there's a lack of qualified expertise in the store. the average consumer goes to a store because they have questions about how one SSD differs from another in performance, and they end up with a sales rep who can only tell you the difference between an asus and an acer is the color of the case.

at home depot, micromanagement, clamps on store management's leeway to set wages, and other shiens are what resulted in a lot of former tradesmen (plumbers, electricians, etc) who worked at these stores in their retirement years--to leave. when a customer comes in and wants to know how to install recessed lighting & fish the appropriate cabling, previously the would get an expert to explain it to them. now a days they get a 19-year-old HS reject whose expertise on wiring extends to the crappy cardboard speaker box in his 1985 chevy caprice's trunk.


RE: Fantastic
By MrBlastman on 6/11/2012 11:14:31 AM , Rating: 2
quote:
at home depot, micromanagement, clamps on store management's leeway to set wages, and other shiens are what resulted in a lot of former tradesmen (plumbers, electricians, etc) who worked at these stores in their retirement years--to leave. when a customer comes in and wants to know how to install recessed lighting & fish the appropriate cabling, previously the would get an expert to explain it to them. now a days they get a 19-year-old HS reject whose expertise on wiring extends to the crappy cardboard speaker box in his 1985 chevy caprice's trunk.


That might be where you live but not where I do. Ever since that prick Nardelli was forced out with a 200 million parachute (scumbag), Home Depot has turned itself around at least in my area. I never have a problem finding someone to tell me how to do something where before, just asking for help felt like I was bothering someone.


RE: Fantastic
By inperfectdarkness on 6/12/2012 3:16:01 AM , Rating: 2
yes, there has been a shift back to the way things were. it WAS nardelli's fault--no doubt about that.

amazing what can be accomplished when the focus is on knowledgable service, not the company's bottom line.


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