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Old 05-07-2012, 08:17 PM
 
Location: MN
3,971 posts, read 9,673,910 times
Reputation: 2148

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Quote:
Originally Posted by MN-Born-n-Raised View Post
Has anybody else noticed that when a company builds a Tashmahal for their headquarters, they start to fall? Think Medtronics, Hunt Technology (Northern MN), Lodgenet (Sioux Falls), AOL (Bay Area) etc.

Of course they spend some big dollars @ BB. I use to be a Sales Engineer and anytime I saw a big new beautiful headquarters, I wondered when they were going to fall.
um, a Taj Mahal?

I kid, I kid
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Old 05-07-2012, 10:47 PM
 
Location: Minneapolis, MN
10,244 posts, read 16,366,293 times
Reputation: 5308
Quote:
Originally Posted by knke0204 View Post
Big retailers rarely "go out of business".
Yeah, you're right. I mean, besides the following ones I can't think of any that have done this...

Borders
Ultimate Electronics
Circuit City
Hollywood Video
Wickes Furniture
Mervyn's
Montgomery Ward
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Old 05-08-2012, 08:43 PM
 
Location: Carver County, MN
1,395 posts, read 2,658,662 times
Reputation: 1265
On the plus side, it looks like the Twin Cities have a positive net immigration for the first time in a decade during 2011! If BB closes, that will probably be wiped out though.

Minneapolis-St. Paul-Bloomington, MN-WI MSA Population and Components of Change -- Real Estate Center at Texas A&M University Home

Interesting enough, Pittsburgh metro is now gaining people as well! Check out DFW and Houston though. Wow!
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Old 05-08-2012, 09:21 PM
 
455 posts, read 638,060 times
Reputation: 307
Quote:
Originally Posted by MN-Born-n-Raised View Post
Best Buy is closing 50 stores after losing money

They lost $1.2B in the past year.
Good find. I was too lazy to look it up, but I was pretty suspicious about calling Best Buy profitable. Revenue does not equal profit.
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Old 05-09-2012, 12:52 AM
 
Location: Moved to Gladstone, MO in June 2022 and back to Minnesota in September 2022
2,072 posts, read 5,061,152 times
Reputation: 886
Quote:
Originally Posted by knke0204 View Post
Big retailers rarely "go out of business". They tend to just get bought out or end up selling off itself. It's a publicly owned company, so it would suffer through series' and years of bankruptcies. Heck, even KMart is still around. Ultimate Electronics failed mainly because of poor marketing and opening up in saturated markets. Poor business planning if you ask me.
Ummmmm... Just to name a few...
Hollywood Video
Circuit City
Linens N Things
KB Toys
Borders
Montgomery Ward
Woolworths
Ames
Ames Department Store Final Voicemail video - YouTube

Last edited by Radical_Car; 05-09-2012 at 01:06 AM..
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Old 05-11-2012, 09:15 AM
 
62 posts, read 163,106 times
Reputation: 91
Quote:
Originally Posted by MN-Born-n-Raised View Post
Has anybody else noticed that when a company builds a Tashmahal for their headquarters, they start to fall? Think Medtronics, Hunt Technology (Northern MN), Lodgenet (Sioux Falls), AOL (Bay Area) etc.

Of course they spend some big dollars @ BB. I use to be a Sales Engineer and anytime I saw a big new beautiful headquarters, I wondered when they were going to fall.
Ding, ding, ding. I said the same thing at the time. Totally took their eye off the ball.

And from the point of view of a consumer, Best Buy just isn't a "best buy". High prices, strangely laid out stores, indifferent associates...it just doesn't add up to a good experience. My wife and I had a horrible experience there after Christmas trying to buy a high-end laptop and ended up just walking out.

Will Best Buy survive? Who knows. Maybe they should integrate themselves into the Amazon family and sell through there. I'm not sure if they have the brand cache to do that, but it's an idea.

Last edited by Hans Licks; 05-11-2012 at 09:24 AM..
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Old 05-14-2012, 08:33 AM
 
Location: MN
1,669 posts, read 6,233,487 times
Reputation: 959
Quote:
Originally Posted by moving123456 View Post
They are starting to lose 1 top executive per month...

The Chief Technology Officer/Geek Squad founder resigned in March.

The Chief Executive Officer resigned in April.

The Chief Marketing Officer resigned a few days ago.
Now the founder of the company and Chairman of the Board of Directors Richard Schulze is stepping down.
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Old 05-15-2012, 09:57 AM
 
9,741 posts, read 11,154,565 times
Reputation: 8482
Quote:
Originally Posted by moving123456 View Post
Now the founder of the company and Chairman of the Board of Directors Richard Schulze is stepping down.
From The Associated Press: Best Buy Chairman steps down after CEO probe

"NEW YORK (AP) — Best Buy's founder Richard Schulze is stepping down as chairman of the beleaguered consumer-electronics chain after the company's investigation revealed that he failed to alert the board of directors when he learned that the CEO was having an inappropriate relationship with a female employee.
Best Buy Co. said Monday that a probe it launched in March determined that former CEO Brian Dunn, who resigned last month, violated company policy and showed poor judgment by having a "close personal relationship" with a subordinate

R.J. Hottovy, a Morningstar analyst that follows Best Buy, said Schulze's departure might be good for the company as it seeks a "fresh start." It also may open up the door for a takeover offer, he said, since getting Schulze to part with his shares has been a barrier for private equity companies. Schulze currently owns 20 percent of Best Buy's shares."
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Old 05-17-2012, 09:09 PM
 
Location: MN
3,971 posts, read 9,673,910 times
Reputation: 2148
Quote:
Originally Posted by Radical_Car View Post
Ummmmm... Just to name a few...
Hollywood Video
Circuit City
Linens N Things
KB Toys
Borders
Montgomery Ward
Woolworths
Ames

Ames Department Store Final Voicemail video - YouTube

Add up all those "great wonderful big retailers" revenues and they won't equate to Best Buy's. Whether you like it or not, revenue is part of the balance sheet that drives business. Revenue doesn't equal profit... Hmm, of course, welcome to day one of Freshman year Accounting.
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Old 05-19-2012, 11:59 PM
 
Location: Minneapolis, MN
10,244 posts, read 16,366,293 times
Reputation: 5308
Quote:
Originally Posted by knke0204 View Post
Add up all those "great wonderful big retailers" revenues and they won't equate to Best Buy's. Whether you like it or not, revenue is part of the balance sheet that drives business.
I don't think anybody is arguing that the mentioned retailers are great or wonderful...quite the contrary beings they were all liquidated due to not being able to find a buyer. It is very possible that Best Buy could suffer a similar fate given the current circumstances.


Quote:
Revenue doesn't equal profit... Hmm, of course, welcome to day one of Freshman year Accounting.
The point being made was valid, in response to this post...

Quote:
Originally Posted by golfgal View Post
They may not be known as Best Buy any longer but they are just too big/too profitable to go by the wayside.
Best Buy lost $1.2 billion last year, which means that they were, in fact, not profitable, and thus, Golfgal's statement was false.
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