Incoming Best Buy CEO Receives Millions to Save Struggling Electronics Chain

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pentiuman

I love (almost) everything about PC's, learning, tweaking and installing software, upgrading hardware with faster and better components, and especially my only magazine subscription (MPC). Subsequently, going to most any electronic store, especially when I have the money to buy something, I'm like a kid on Christmas!

So you would think that I love Best Buy, right? No. At one time I did, and should still, but Best Buy (AKA Worst Buy), lost me as a customer when they consistently put themselves before the customers interests. Customers at Worst Buy are commonly treated like ignorant cattle one feeds, only because the real ultimate plan is to slaughter and eat them. Best Buy has so many consumer unfriendly scams, the better question is, why should we ever go their again? They have ads that try to bring you in with a low price, but then they are out of stock. They sell you extended warranties, but then don't honor the legal contracts when things do break. They have an attractive website, but treat it and the stores like different companies - in prices, stock, returns, and customer service! They are often incompetent when you need product info, have an issue, or just a simple warranty claim! You may see me in a Best Buy - if I need to look at a product I intend to buy online (cheaper), or if I have to go to the bathroom and nothing else is open. Best Buy is slowly killing themselves by not following consumer laws and putting their customers (and often employees) LAST! But don't take my word for it. Do some Internet research and judge yourself! They are bringing on their declining reputation and sales themselves! A new CEO paid millions more than their earnings, is just the "beginning of the end." Good Riddance!

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Benjo

The nearest Best Buy is 100 miles away and they are still there the last time I checked. My dad bought our very first computer there back in 1996. A Staples store opened in town a few years later. That was our go-to store for computer parts until I went exclusively online. (geeks dot com)

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anusbreath

Frys Electronics destroys Worst Buy in every way.
Worst Buy is a phony hack, impersonating an actual computer and electronics store. They're going down. Even a little mom-n-pop store a few blocks from my local Worst Buy just destroys them on computer parts, selection, knowledge, etc. ... infotechnow.com

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vrmlbasic

Not in ubiquity.

I have a handful of Best Buy stores near me here in MD. I've seen Best Buys almost everywhere I've been. To my knowledge, I have never, ever, ever, ever seen a Fry's Electronics store.

According to their store locator, if you're not in Texas or California. the odds of you having a Fry's near you are incredibly slim. There are only 9 Fry's outside of those 2 locations. 2 are in AZ, 2 are in GA, and the remaining 5 are evenly distributed among IL, IN, NV,OR, & WA.

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lumpoco

"To my knowledge, I have never, ever, ever, ever seen a Fry's Electronics store."

You sound like a clueless tool and a very judgmental one at that. Yes, Fry's is everywhere. If you actually went to their website you will know that they have stores all across the US whereas Best Buy is in select geographical locations and in those locations they saturate the area with more than enough Best Buy stores...sort of like a McDonald's. The people working there are worse than those working at Fry's. At least the people working at Fry's don't walk away from you when you are asking them for help. No...the people at Fry's only ignore you if you walk up to them. They pretend they don't see or hear you. Best Buy was doomed from the start....because people often got then confused with the now defunct chain of stores named "Best" which was similar to another chain of stores called Service Merchandise.

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Lednaara

@lumpoco
34 Fry's locations spread around 9 states, with the majority of them in California and Texas.

1103 Best Buy locations among all 50 States of the US and Puerto Rico.

So yeah, the odds of more than a few people never having seen a Fry's store are fairly high. Fry's is NOT everywhere and if you had bothered to go to their website and check it out first you wouldn't look like such a clueless prick and a dumbass to boot.

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goodtime

I've never seen a Fry's either, but we do have a Best Buy.

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yomanwill

"I've never seen a Fry's either, but we do have a Best Buy."
Same, but I do have a Micro Center near by. It's OK, but I buy most of my stuff on Newegg I rarely go to electrics stores.

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SPreston2001

Wow I didnt even know Best Buy was tanking...

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galahadkoa

Hubery Joly was the head of Carlson since about 2007. They own TGI Fridays, Radisson, County Inn & Suites and other stuff. I only met Hubert a few times at company conferences, but things started to go downhill after he took over and the original Chairman, Marilyn Carlson retired. Carlson was not a struggling company so its interesting he would be brought in to fix a company in a lot of trouble after what I saw over the last five years.

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Deviate

Best Buy can bite it for all I care. I worked for them at one time years ago, and I do not approve of their business practices, screwing of customers, and treatment of employees by management.

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Deviate

CompUSA is not gone. They're just few and far between. There is one right near where I work. They are powered by Tiger Direct now, and actually do ok business at the moment.

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Victek

Glad to hear CompUSA is not completely gone, but that's not the point. They were once a powerhouse retailer for computers and home electronics - they were the "go to" store. They faded away because they didn't see or couldn't adapt to market changes and I believe the same is happening now for Best Buy. Best Buy stores cannot compete with Frys or online retailers - they're not even close when it comes to selection and price. Here in southern California Best Buy only looks good when compared with office supply stores which are even worse RE stock and prices. The Geek Squad (GS) is another example of Best Buy being out of touch. People I work for often tell me they called the GS first and were told they'd have a wait a week for an appointment - that's unacceptable. Does anyone there realize this, or will they still be wondering what happened when the doors close? Even Frys saw the writing on the wall and recently decided to match online prices in their stores - that gives them a real edge. It's a brutal market and companies need to pay attention and adapt if they want to survive and succeed.

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Lednaara

All the stores around here are gone, and their stock bought out by TigerDirect. Apparently the company that owns TigerDirect bought the CompUSA name and online business. Glad there's still a store near you. It was a great place to pick up drives or components when you needed something right now and did not have time to wait for it to ship to you.

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Paul_Lilly

That's correct -- TigerDirect, CompUSA, CircuitCity, and several lesser known brands are all owned by Systemax.

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Deviate

Yep, very handy to have around in a pinch. Their prices are pretty competative too. I recently bought a new monitor there because I felt more comfortable actually being able to see them in person and not worrying about shipping damage.

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Lednaara

There is a Tiger Direct outlet center attached to their distribution center about an hour and a half from me if I'm desperate lol.

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avenger48

About the only big box store that's successful at the moment is Walmart. It's just a dying business model because of online sales.

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anusbreath

If you're going to build your own computer, neither WalFart nor Worst Buy will do... Fry's Electronics is king of the pile by a long shot.

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anusbreath

If you're going to build your own computer, neither WalFart nor Worst Buy will do... Fry's Electronics is king of the pile by a long shot.

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FrancesTheMute

For people out West, I think Fry's Electronics is doing quite well. I know when I lived in SoCal, I would always go to Fry's instead of BB if I needed to pick up some computer or electronic stuff

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vrmlbasic

There is no Fry's in my state, nor is there one in any state which touches mine, as far as I am aware. I live in MD.

My closest Fry's are in Georgia, Illinois, and Indiana. They'd have to be a helluva lot better for me to go to them over BB ;)

Like In-and-Out Burger, it just doesn't exist here. Makes me think that, like said burger joint, it's way overrated. Good ideas supposedly spread...

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anusbreath

Fry's is awesome. They even price match against internet competitors... they are an effing unbelievable store. I love it.

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galahadkoa

The Fry's here in the Chicago suburbs that I go to does pretty well. Once you go into Fry's you will never go into Best Buy again. I used to shop at Best Buy religiously for years, but over time it just became very bland and sterile. They cater to the lowest common denominator and have become obsolete.

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bling581

I think they should focus more big ticket items that you normally want to inspect in person before purchasing. Things like TV's and home theater equipment. They care quite a few TV's but they could do better on stereo equipment and other things. They waste so much space on music and movies when a lot of people buy those things online. Once in a great while they do have a decent sale that lures me into the local store, but I'm always disappointed at the lack of customer service and product knowledge.

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anusbreath

Until they try and become a copy of Fry's, they're going down the toilet. I wish Fry's was closer than 25 miles from me, because I love the store, but sometimes I'll break down and go to Worst Buy just because they are less than half that distance.

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kixofmyg0t

So.....their solution is to throw money at a new CEO that has no experience in the tech field.....

Yep sounds like Best Buy alright.

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tekknyne

Well yeah, this guy is the one appointed to sign the leveraged buy-out when the vulture capitalists come in to pick the carcass clean. You don't have to know anything about computers to sell-out and screw over people.

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Lednaara

Circuit City.... gone. CompUSA.... gone. Best Buy... going.... going.........

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thechipper

I think people are missing the big picture. Look around at all the other huge companies right now. Everyone big company is posting losses this year. The consumers can't afford to buy expensive things anymore. Debt is too high in so many countries around the world. You are actually making it worse by spending millions of dollars on a single employee. Do you want to boost sales? Spend 30million on price cuts to be more competitive. Buy smaller sales properties. Reduce redundancies in your business model. Scrap thing's that are basically obsolete. Nobody buys CDs from a store. Who's buying DVD/Blu-Rays anymore? People buy games online more than ever or pre-order from places that offer better deals. Migrate primarily to the internet. Tech people barely go to the store anymore. You are catering to a diminishing market that in 5 years won't exist anymore.

Cut yourself down to computers, laptops, cell phones, TVs, Sound systems, mp3 players and peripherals. Train your staff to sell, not mingle. Force them to learn about the product.

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tekknyne

How is it that 90% of the free-world is in debt to nobody? If I'm in debt to you, and you're in debt to Steve, and Steve is in debt to me, then we all owe someone something, and we are all owed something. But nobody owes us anything, so who are we all in debt too?

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OmNomNom

3 reasons to go to BB.

1, some tard got me a gift card
2, i want to pick up a 2nd or 3rd gen video card for the price of a new model.
3, i'm holding someones hand in the Return line explaining to them why they shouldn't have spent $1,000 on a pc that I could build for $600ish.

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Lednaara

4. Window shop the televisions or computers to see what your looking for up close, then go online and buy it for at least 1/3rd less.

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lunchbox73

5. Wife is next door at Kohl's and I would rather browse electronics than woman's clothes.

6. Enjoy eavesdropping on sales associate helping somebody pick out a laptop.

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FrancesTheMute

This!

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pastorbob

I agree.

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Dxcv

What does it say when the CEO of an electronics retail chain is replaced by someone who used to run a hospitality and travel company?

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galahadkoa

Prior to working for Carlson he was at Vivendi Universal

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Victek

The problem with Best Buy is they simply cannot compete. There's a Frys in my area and they have much more stock and lower prices than Best Buy. Frys also will match the lowest internet price for in store items, has a 30 day low price guarantee and a "no questions asked" return policy.

Regarding the Geek Squad they typically have a one week response time which is unacceptable to most people. The support company I work for provides same-day or next-day on site service.

Best Buy needs to stop trying to look like a store selling fashion clothing at the mall and focus on selection, price and service if they want to stay in business. At the moment they are on the same trajectory that CompUSA was on and we know how that ended.

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tekknyne

SO they hired this guy to cook the books or what? Bring in some new innovative ideas by moving their supply-chain from China to Somalia because the Chinese middle-class now wants a decent wage? I mean what is this guy gonna pretend to do to magically restore Best Buy's dying business model to relevancy in digital 2012?

I think companies like BB look funny in a Globabl Market- gasping for a few dying breaths.

When the primary goal of your company is to make money, and the people you hire and the services that you provide are inconsequential, you know we're all hosed. Unless you know of way to eat money?

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kylej628

I'm the kind of guy who would rather save the $100-$200 and build a machine myself. Seeing that Best Buy has next-to-nill in the custom PC department. I never really have a need to go there. I haven't bought a movie in years.. (Netflix and Redbox take care of that), their music is a joke (CD's are overpriced there) and I go to Gamestop to pre-order all of my games (Or steam, since B.B.'s game-center-thing is a complete joke)

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anusbreath

I go to Rhapsody for music. I've had a subscription with them for at least a decade. I'll never buy music again. Just a waste of space around the house, and it all gets old and stale anyway as new music constantly takes over the favorite positions of the previous set of favorite music a few months before.

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tekknyne

To me, the concept of the retail store has always been a little bit of a joke, especially when it comes to electronics. Like clothing stores-- OK, my lady WILL NOT buy clothes unless she has tried them on for hours-- got it. But what is a retail store employee going to provide that one simply cannot do for himself? Need tech specs? Research online to get an objective idea.

I mean, great, these high school kids have a job now which is lovely. But if they're not really providing a service, isn't that just a waste of their time?. So now we're just coming up with this crap premise to keep them occupied so they don't go out and create their own companies and put these dinosaurs totally out of their misery? Makes total sense.

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anusbreath

Heh, fancy idea there. There can be only one (Dell) kid who makes a billion dollar computer manufacturing company in his college dorm. Ok, maybe not exactly one, but at least one-in-20-million. You have a better chance of winning many lotteries than becoming the next Michael Dell. Success has far more to do with being in the right place at the right time and the gods favoring you in particular for some reason. Michael Dell could have had 1,000 other dorm mate competitors doing the exact same thing and only one of them would have succeeded. That's just how sheeit is. I can't explain it yet, but eventually, there will be a simple mathematical formula to describe the odds of real success for any particular person.

So no, no pasty high school kid is going to put Worst Buy out of business doing anything... that one-in-a-20-million has already come and gone. Worst Buy will go out of business on it's own because their management are effing stupid as hail and don't understand the desires or needs of their customers, and probably don't care. If you were a CEO making 10 million a year to run a business, would you really give a flying chuck if it failed. I'd work for 2 years, run it into the ground, then live the rest of my life on my 20 million, or even better, move on to the next sucker, as many failed CEO's do, and get paid another enormous fortune to destroy yet another company. Who cares... when you're paid so effing much you can work one year and never again, you have no motivation to give a sheeite about anything or anyone. whooo hoo.

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compguytracy

ill do his job for a lot less, 1st, geek squad. learn your job, no it is not ok to run multiple antivirus programs at the same time. when asked a question, like say, oh, i dont know, do these computer speakers have a seperate volume control for the headphone jack, dont say, im not kidding, i dont know. more actual employees on the floor to answer questions. more variety in after market parts, for pc gamers. my best buy has the pc components in a back corner in the overflow area. nice. of course all the stupid consoles have big displays, and placards.

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eday_2010

Maybe consoles have big displays, and placards because they are popular and PC gaming is a niche for nerds, geeks, and the socially inept?

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mark0820

Oh look, an internet troll. How quaint.

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wolfing

yet another example of crazy pays for someone who doesn't even have experience in the corporation's field. On CEO levels, more pay doesn't mean better results (in fact, in most cases, probably less)

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tekknyne

Experience in that field? Since when has experience mattered? Business is business. All you do is leverage your existing connections, -- no, know that you're never going to be the CEO because the connections are ones they had since childhood, that their parents were surrounded with -- find people that you can exploit and fire the ones you can't, you know, the ones who have the audacity to demand a decent living -- problem solved.

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Farmboytechie

Wait a second....Didn't most travel agencies go out of business since most people buy stuff on the interwebs now?

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