They, like their pals at Circuit City and "The Good Guys" are dead. They just haven't quite figured it out yet. How do you go bankrupt? “Two ways. Gradually, then suddenly.” Best Buy is presently in gradual mode. If you own stock in the company, get out now. Things are only going to get worse.
Like so many others, they have a whole lot of "managers", and very few who actually know anything.
“Due to overwhelming demand of hot product offerings on BestBuy.com during the November and December time period, we have encountered a situation that has affected redemption of some of our customers’ online orders.”
It's true: the "situation" was that "managers" were stupid. Every failing organization tries to cover managerial stupidity by hiring more PR folks.
Metro does it. City of Portland does it. Multnomah County does it, and so does the State. Like the managers at Best Buy, they seem unable to grasp a fundamental truism: hiring more spin-sters means that you're in a death-spiral. Nobody buys your crap any more.
If only government faced the same consequences of managerial stupidity that the private sector does.
Unfortunately, when it comes to government, it's rather difficult to take your business elsewhere.
Posted by: fallingpianos | February 10, 2012 at 09:48 PM
They hire spin-sters to keep fooling those fools to vote for them.
Posted by: Sam L. | February 11, 2012 at 09:01 AM
It's not all that bad. The stock is only down from $48 in 2010 to $25 on Friday (with all the trend lines pointing down).
This could be a no-brainer short sale - but I don't go there.
Posted by: ZZMike | February 11, 2012 at 02:35 PM