I always do the opposite of what Cramer, cnbc, the fools and the tons of Rats do and I always make money. Best Buy is unique compare to its competition, people find bigger selection, better prices and accessible items that you can see, touch and feel for when you are ready to buy you can grab them and take them home right away. Best Buy even have installation available for a huge variety of items. Females, males, kids and elders we all go to best buy because it is all about technology and that is what's moving the universe. Most of the people rather go to a store where they can see a product than order it online. I like the old man because he is a visionary, he is old, stubborn old guy and has money, see when you start getting real old you grow cojones, you stop giving a fok and take more risk because you know you don't have much time and you simply don't give a fok. The old man will buy Best Buy he will do it his way because he can, he will take the risk, he will make it private and change things for good because that's how old people do, they are smart, experience, and have cojones because they simply don't give a fok specially when they are old and have money, you watch the old man, he will have it his way. The old man sees what most of us don't see and he will do what most don't have the cojones to do. YOU GO GRANDPA, BUY BBY AND WHEN YOU DO FIRE ALL THE INCOMPETENT RATS.
"I spoke with the store manager who informed me that sales are on pace to beat last Christmas sales."
Seriously? The store was jam packed and the manager still found time to talk to you and he give you inside info on the sale status? And all that was happening on the floor? Did the manager tell you about the intimate life he has with his wife too?
Mr S is out of touch with reality. First of all, his leadership put BBY in a position where it can not compete. He hired weak managers and now wants to bring them back.said he was to issue an offer on Friday
Second, he is has a character flaw!. He resigned so as not be fired for withholding information from the Board. Granted it was only about a tryst by his "buddy", but it shows his stripes.
Third, the Minneapolis nespaper reported on Thursday that Mr. S was to make a bid on Friday. Where did this info come from and why did Mr. S wait until Friday to correct it. He had to know Thursday he was asking for an extension. Would like to see who bought shares on Wednesday and sold them on Friday.
Finally, how could anybody believe he would make an offer on December 14 with equity and financing commitments on a business that is a big box retailer before Christmas results are known. Private equity and lenders don't committ $4billion into a retailer in December. On top of that, I believe equity and lenders will be hard pressed to underwite a turnaround to the same group that put the company in the position it finds itself today. As to character, I hope no fund or bank I am invested in puts up capital or lends to a man who withheld information to his Board, wants to hire the same people who brought you a broken model and then either whispers in a reporter's ear or does not issue immediate denial.
My opinion is he wants to "bring back the glory days , but he is 30 years behuind the times.
Well written and spot on my friend! These rats will all try to mislead you into making the wrong decision so they can profit at your demise. Don't let them shake you into thinking that BBY is going into bankruptcy or that there will be no buyout and stock will continue to death spiral. Schulez knows he must get his paws on this and fast. He's not going to let management continue to make all the wrong decisions and wait until end of February to make an offer just so someone else can come in and get it on the cheap! He does not want a bidding war and despite what many are saying has already secured financing. Now it's just a waiting game until Christmas sales are in.