Best Buy & Geek Squad Policies

[Bob_A]

Brian Dunn, CEO of Best Buy resigned today. Or, was fired. 

The reporter who wrote the below Online news release. Obviously has a very negative bias about BBY

http://finance.yahoo.com/blogs/breakout/best-buy-ceo-brian-dunn-resigns-company-going-151536950.html... 

[Jimmienomam]

Yes he did resign on what he said was "mutual" (normally means forced out). To be truthful I honestly don't know if this is good or bad.

He apparently has run BBY down so I don't blame corporate for holding him accountable.

But on the flip side it is usually hard for a company to swap CEOs in this fashion and not take a massive dive which could be unrecoupable (is that a word?).

So for now I am just going with the headlines and seeing how it pans out. Hopefully for the better

[hydrogenwv]

Jimmie, I'm not real up-and-up on investing and what-not, but I think the result of the CEO swap would depend on who the new CEO is, or, more specifically, his track record. Some CEOs have a 'reputation' for saving dying corporations. If they get one of those, the opposite could result, I think.

 Right now, Best Buy is sort of in a negative light already, so getting rid of the CEO and hiring a new one with an excellent track record could benefit them greatly.

[Jimmienomam]

But from what I understand is that they don't have a swap. It's just a resignation, which usually isn't good.

Like I said I will just watch headlines and see if they had a replacement set up and were just swapping or if they just had a resignation and are now searching for replacement.

I agree swaps usually go easier, but I haven't heard a name as of yet of his replacement

[hydrogenwv]

Aha, I saw you mentioned a swap, so I assumed that was the case. I'd assume if they had a replacement, they'd already have announced who it is, especially if it's someone that will be a great benefit to the corporation. I didn't think that one through.

  I guess we'll have to just see what happens... Not having a CEO, though, isn't going to help stock prices, I'm sure. For now, Best Buy just looks like a sad little orphan.

[kst8no1]

The ashes of Steve Jobs could do a better job than Dunn ;p

[Solomon87]

 Best Buy is definitely going under. Look at their market cap, that is all one needs to see.

[Bob_A]

The story has changed.  

Now the News Media is reporting that CEO Dunn has resigned because of a probe into "allegations of  personal misconduct".  Whatever that means.  

It's a good example of how News Media reports are not necessarily reliable.  

http://finance.yahoo.com/news/best-buy-ceo-resigns-134306036.html?l=1  

[Heavenfire]

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Bob_A wrote:

The story has changed.  

Now the News Media is reporting that CEO Dunn has resigned because of a probe into "allegations of  personal misconduct".  Whatever that means.  

It's a good example of how News Media reports are not necessarily reliable.  

http://finance.yahoo.com/news/best-buy-ceo-resigns-134306036.html?l=1  

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Wow, the WORLD never saw this coming, I am sure.....lol.. Maybe they will send the RETAIL EQUATION and their 90 DAY BLACKLIST PACKING with DUNN... Personal misconduct in this case could not have been from embezzlement or stealing profits, because there Are NONE....lol.. The Circuit City graveyard is about to get some company...

[carnivoran]

IT HAS BEGUN!