Richard Schulze takes a shot at Best Buy's (BBY) decision to hire turnaround specialist Hubert...

Richard Schulze takes a shot at Best Buy's (BBY) decision to hire turnaround specialist Hubert Joly as its CEO, saying the company needs a proven leadership team with deep retail experience and knowledge of Best Buy. Though it sounds a bit like sour grapes after the company for the most part spurred its ex-founder, Schulze was correct with the part of his statement where he added value is eroding. Best Buy 6.8% lower on the day.

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Comments (4)
  • J Mintzmyer
    , contributor
    Comments (8181) | Send Message
    Schulze is just bitter. He's going to have to pay more than $24-$26 to take BBY private. At this point BBY might be the most undervalued stock on the exchange, all things considered.
    20 Aug 2012, 12:03 PM Reply Like
  • Bye Bye BBY
    , contributor
    Comments (58) | Send Message
    Good Bye Best Buy. Stock price December will be below $10.
    20 Aug 2012, 12:27 PM Reply Like
  • J Mintzmyer
    , contributor
    Comments (8181) | Send Message
    Stock price could go below $10, anything is possible, but that doesn't mean the company will be worth that much. Why do you assume "good bye best buy" when they have more revenues, profits, and far higher margins than Amazon?


    You realize that BBY is turning a strong profit correct?
    20 Aug 2012, 04:19 PM Reply Like
  • Seeking Beta To Your Alpha
    , contributor
    Comments (452) | Send Message
    Tomorrow will be the first chance for private equity to get a peek at the BBY's latest financials. If things are bad, shareholders might be screaming for a buyout, but might find that private equity isn't interested.

    20 Aug 2012, 09:21 PM Reply Like
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