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Best Buy Co., Inc. Message Board

  • linusfm linusfm Mar 29, 2012 3:02 PM Flag

    Going out of Business

    Their is no reason they should survive.
    Blockbuster did not make make, B&N did not make it, what makes people think they will.

    I don't even hold a position in this stock (long or short), but have the people here holding shares actually been to a BBY recently? They have never anything brand new, or hot items in stock. Most people cannot help you with a specific question. Go try it, go in there and ask what the difference between two TVs is that are next to each other..what will happen is that the store clerk will read the little yellow sign...oh yeah, because I cannot read..

    That place has become a dump, the only way for them to survive is to close all stores and turn this into an online business. I tried returning something once I bought on BBY online..could not return it in a store...I was told I need to send it the last reason to have those stores is gone for me as well...

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    • As far as BBY's management is concerned, they are typical of most corporate environments. They talk about things like: "watering relationships, partnering, mentoring and reaching out." It's all buzz-words and lip-service. Where the rubber meets the road; competence, they are lacking. Most of their cost cutting afforts are poorly thought-out and full of unintended consequences. Arrogance can be a terrible thing, especially when it's coupled with ignorance or poor analytical skills.

    • kaiserlee Mar 31, 2012 11:26 PM Flag

      Speaking of Best Buy possibly purchasing (yet) another company, I have heard that another company they purchased, Pacific Sales, may not be doing so well. Does anyone have any information on Pacific Sales, or does anyone know how to get the information from Best Buy or any other legal source? Internet information indicated that Best Buy paid approximately $410 million dollars for Pacific Sales in 2006 that had approximately 14 locations at the time.

      In terms of "expanding" Pacific Sales, it seems as if their strategy is just to put them inside of Best Buy stores. Is this truly "expansion" of Pacific Sales, or is it just "replacing" the existing (Best Buy) appliance departments inside of Best Buy? If Best Buy is trying or claiming to genuinely scale up their brands, then they should have good reason and explain why some high-end brands are not sold in these Pacific Sales/Best Buy store locations.

      If they are replacing Best Buy appliance departments with Pacific Sales, does the revenue or any growth they may report for Pacific Sales (or appliances) take into account the reduction of sales that the Best Buy appliance departments generated?

      Insofar as Viking products go, if they are offered at the Pacific Sales stores inside of Best Buy, one can easily google Viking complaints and see what consumers have to say about their product quality. If one makes this search, you might want to pay particular attention to claims that certain parts (i.e. ignitors) seem to repeatedly fail. For anyone who claims that the Viking factory is not much of a help (if any), to my knowledge Viking does not control or run Pacific Sales (Best Buy). Pacific Sales/Best Buy can do whatever it wants to help a customer. The question is their willingness to do so, and consequently whether it is at your expense or theirs, especially if the have familiarity with the defect.

      Also, can anyone speak to the credentials of the personnel running this historically high-end chain, and do you think that Best Buy has generally been a success or failure when it comes to past acquisitions?

      • 1 Reply to kaiserlee
      • kaiserlee Jul 16, 2012 10:56 PM Flag

        I understand that Best Buy announced about a week ago that they are firing approximately 2400 employees, 600 of which are Geek Squad employees (service division for various products that Pacific Sales/BBY sells, including major appliances, etc.)

        I read today where Best Buy is going to re-hire approximately 500 (new) Geek Squad employees, but this time employees with an "advanced degree" (i.e. masters, etc.).

        What kind of "advanced degree" did Brian Dunn have?

        What kind of "advanced degree" does Phil Lee have, the President of Pacific Sales?

        This is nothing less than insulting to so many appliance technicians who were formerly employed by Pacific Sales and then Geek Squad/Best Buy.

        To suggest that a "paper" degree is more meaningful than an education that one may heave learned in the field for five, ten, fifteen, twenty years, speaks volumes about Pacific Sales/BBY's management to hire qualified employees, period.

        I would like Best Buy to tell us what kind of degrees their brainiacs had who hired the 600 they are now firing and replacing with employees who have an advanced degree. Are these brainiacs still employed?

        When does Best Buy and Pacific Sales own the decisions they made along the way, and hold management accountable? Employees had no choices, they were subject to wherever management decisions took them?

        Show management the door, not the underserving employees.

    • <<< There is no reason they should survive. >>>

      None, I guess, other than they just keep on making profits in good times and bad.

      (BBY has been here before many times. They always land on their feet.)

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    • Another Circuit City soon.

    • Many pundits say that shoppers go into Best Buy to visually SEE something on display then leave and purchase elsewhere for cheaper or faster service. I do, and with computers I head over to MicroCenter. GeekSquad is an industry JOKE. BBY will go the way of CompUSA and Circuit City.

    • wow, bby has turned into nothing but a wholesaler at cheap prices, anyone can do that for a few years, then the price war eats the warrior. good buy sweet bby, it was a nice run< but you forgot what brings you to the dance

      • 1 Reply to robertlakin
      • I am surprised the stock has not been hit harder ofver the past few months. Seemed that it was supported somewhat. Store closings are always the sign of trouble. Any further announcement of closings will even be more bearish. Somebody here mentioned low prices at BBY. They are getting killed by Amazon and others and their online division has been terrible always, I see a stock in single digits withing a yr.

    • My local BBY was doing fine last week, but the next door HH Greg store looked like a ghost town. Also like I have said before, wait until you have a big screen TV bought online take a dump on you and it is up to you to drag or mail it to some repair center hundreds of miles away from you. I'd rather pay a few extra dollars and know I can drop it off at the nearst BBY and they will take care of it for me.

      • 1 Reply to Advisor2100
      • "My local BBY was doing fine last week, but the next door HH Greg store looked like a ghost town. Also like I have said before, wait until you have a big screen TV bought online take a dump on you and it is up to you to drag or mail it to some repair center hundreds of miles away from you. I'd rather pay a few extra dollars and know I can drop it off at the nearst BBY and they will take care of it for me."

        What a moron! Buying a QUALITY TV (not the cheapo knockoff brand Sceptre, Dynex or whatever junk YOU can afford) from amazon, newegg, overstock etc. they provide white glove delivery and full warranty from the manufacturer. Any quality manufacturer provides at least a 1 year warranty, often 2 and you can easily obtain inexpensive multiyear extended warranty plans.

        If there is ever a problem, they will most likely send a local certified technician/tv repair man that has been trained to fix the tv, or if not provide hassle free white glove replacement.

        MUCH easier than packing a large TV up and driving it over to Best Buy, and even if you take it to Best Buy, what exactly do you think those retards will do with it? You think those space chimps in the Geek Squad will be able to repair it you are even dumber than you've already shown yourself to be. They won't be able to do a thing outside of sending it off to the same repair center you're bashing. IDIOT!

    • I agree.

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