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BBY Best Buy Co
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BBY Best Buy Co

  #1 (permalink)
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BBY Best Buy Co



Mike

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Last edited by Big Mike; April 15th, 2012 at 11:57 PM.
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  #3 (permalink)
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Best Buy?s Dunn Resigns as CEO; Mikan Steps In - Businessweek


Quoting 
Best Buy Co. (BBY) (BBY) said Chief Executive Officer Brian Dunn resigned and board member G. Mike Mikan is taking the position on an interim basis as the company focuses on smaller stores and Internet sales.

The change was a “mutual agreement” that new leadership was needed, the Richfield, Minnesota-based company said today in a statement. A committee of directors has been created to search for a new CEO, the company said.

Best Buy, the world’s largest electronics retailer, has been cutting jobs and shifting to smaller store formats amid competition from Internet retailers such as Amazon.com Inc. (AMZN) (AMZN) Dunn, who started with Best Buy in 1985 as a VCR salesman, said in an interview last month that he believed he was the “right person” to lead the company through the transition.

“Best Buy needs to bring in a CEO who embraces change to do battle with the likes of Amazon,” Brian Sozzi, an independent analyst in New York, said today by telephone. He rates the shares sell. “The world of consumer electronics retailing five years out is online, online, online.”

Best Buy fell 4.1 percent to $21.72 at 10:21 a.m. in New York. The shares (BBY) tumbled 31 percent from June 23, 2009, the day before Dunn took over as CEO, through yesterday.

Annual Loss
Best Buy last month posted a $1.23 billion net loss (BBY) for its fiscal 2012, its first annual loss in more than two decades, as sales rose less than 1 percent. The company said it would close 50 U.S. big-box stores this year and expand its smaller Best Buy Mobile stores to as many as 800 outlets by its fiscal 2016, from 305 now.

“I believe I absolutely am the right person to lead the company forward,” Dunn, 52, said in a telephone interview after the announcement. “I’m really not spending a lot of time looking in my rearview mirror. I believe wholeheartedly in what we are doing.”

Mikan, who has been on Best Buy’s board since April 2008, previously served as chief financial officer of UnitedHealth Group Inc. (UNH) (UNH) and CEO of Optum, a UnitedHealth affiliate in health- care services.

Mike

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  #4 (permalink)
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Source: Report: Best Buy CEO Probed Over Relationship With Female Employee - The Consumerist


Quoting 
The plot continues to thicken in the story surrounding this week's sudden departure of Best Buy CEO Brian "I Like My Burgers Well" Dunn. As some had suspected when he stepped down on Tuesday under the cloud of a "personal conduct" probe, new reports claim that the 28-year Best Buy vet was being investigated for possibly misusing company assets while involved in a relationship with a female employee of the electronics retail chain.

The Minneapolis Star-Tribune was the first to report that 51-year-old Dunn, who stepped into the CEO role nearly three years ago, had "acted inappropriately" with a 29-year-old employee who was identified by the Wall Street Journal as a working in the leadership training institute at Best Buy HQ.

The Star-Tribune gave Best Buy the opportunity to deny its source's claims, but a spokesman for the retailer only said, "the investigation is ongoing. We have no additional comment at this time."

The Wall Street Journal attempted to speak to the woman, saying that her Facebook page still listed her as a Best Buy staffer. When they were unsuccessful, the paper says it did find someone close to her that said the situation was "something small that people blew out of proportion."

Even so, Dunn's quickie exit is reminiscent of the 2010 departure of HP CEO Mark Hurd, who is alleged to have used company funds in an attempt to woo a former reality show star that he had hired to host events for company executives.

Mike

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  #5 (permalink)
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Maybe he gave her an Iphone , the sexting transcript will be out by Sunday....

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  #6 (permalink)
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Best Buy released the following list of imminent closures today:

Casa Grande
1004 N Promenade Pwy
Casa Grande, AZ

Lake Pleasant
10134 W Happy Valley Rd
Peoria, AZ

East Palo Alto
1751 E Bayshore Rd
East Palo Alto, CA

Westwood
10861 Weyburn Ave
Los Angeles, CA

Manteca
934 Perimeter Dr
Manteca, CA

Moreno Valley East
27220 Eucalyptus
Moreno Valley, CA

Ontario
4120 E 4th St
Ontario, CA

Pittsburg
4405 Century Blvd
Pittsburg, CA

Jamboree
2857 Park Ave
Tustin, CA

Arapahoe & Parker
15800 E Briarwood Cir
Aurora, CO

The Forum
9370 Dynasty Dr
Fort Myers, FL

Oldsmar
11655 W Hillsborough Ave
Tampa, FL

Fayetteville
128 Pavilion Pkwy
Fayetteville, GA

Loganville
4014 Atlanta Hwy
Loganville, GA

Addison
1038 N Rohlwing Rd
Addison, IL

87th & Dan Ryan
8900 S Lafayette Ave
Chicago, IL

Deerfield
200 S Waukegan Rd
Deerfield, IL

Matteson
4707 Lincoln Mall Dr
Matteson, IL

Mundelein
1100 N Rt 83
Mundelein, IL

West Dundee
979 W Main St
West Dundee, IL

Speedway
10500 Parallel Pkwy
Kansas City, KS

Back Bay
360 Newbury St
Boston, MA

Wareham
2421 Cranberry Hwy
Wareham, MA

Inner Harbor
600 E Pratt St
Baltimore, MD

Hunt Valley
118 Shawan Rd
Hunt Valley, MD

Biddeford
405 Mariner Way
Biddeford, ME

Brooklyn Center
5925 Earle Brown Dr
Brooklyn Center, MN

Edina
3200 Southdale Cir
Edina, MN

Hutchinson
1350 Hwy 15 S
Hutchinson, MN

Lakeville
18350 Orchard Trl
Lakeville, MN

Rochester South
4540 Maine Ave Se
Rochester, MN

Rogers
20870 Rogers Dr
Rogers, MN

Ellisville
15678 Manchester Rd
Ellisville, MO

Monroe
3151 W Highway 74
Monroe, NC

Rocky Mount
1100 N Wesleyan Blvd
Rocky Mount, NC

Millard
12210 K Plz
Omaha, NE

East River Plaza
517 E 117th St
New York, NY

Steelyard Commons
3506 Steelyard Dr
Cleveland, OH

Salem Mall
5031 Salem Ave
Dayton, OH

Caguas
Las Americas Expry PR52 Zafiro
Caguas, PR

Middletown
890 W Main Rd
Middletown, RI

Hickory Hollow
5255 Hickory Hollow Pkwy
Antioch, TN

Techridge
12901 North I-35
Austin, TX

Woodlake Parkway
6218 Woodglen
San Antonio, TX

Landmark Mall
5901 Stevenson Ave
Alexandria, VA

Cosner’s Corner
9745 Jefferson Davis Hwy
Fredericksburg, VA

East Richmond
4410 S Laburnum Ave
Richmond, VA

Mill Plain
16611 Se Mill Plain Blvd
Vancouver, WA

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #7 (permalink)
Trading Apprentice
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I took a trade on BBY this morning, but the main reason for this post was to see if I could figure out how to post a chart on futures.io (formerly BMT).

BBY has been in a downtrend for a few weeks. It was trading below yesterdays (Friday's) low so I shorted the correction within the downtrend at 8:21 (pacific). BBY has a relatively low ATR so I wasn't looking for much. 20 cent target with a 10 cent stop. I entered with a sell stop at 21.80, was filled at 21.79 (1 cent slippage). Moved the stop to BE when it was plus 10 cents and was eventually stopped out.

Hope my chart shows up.

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BBY Best Buy Co-screenhunter_02-apr.-16-19.05.gif  
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  #8 (permalink)
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Had a Chart

just posting "my chart" on BestBuy. "They" were trying to pump BBY on CNBC.

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  #9 (permalink)
CL Assassin
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  #10 (permalink)
Site Administrator
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Posts: 46,238 since Jun 2009
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Just use the chart bbcode.

[chart]bby[/chart]

Will give a dynamic constantly updating chart each day.

[charts]bby[/charts]

Will give a fixed in time chart.

Here is fixed in time chart:



Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
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