So there was an article posted on MSN earlier today relating to Best Buy CEO, Hubert Joly dumping a large stake in the company to pay for his divorce. Here is an excerpt:
Last month, Best Buy reported second-quarter results that topped analysts’ estimates as it slashed costs and worked to make its website more competitive. The retailer has been shuttering underperforming stores and revamping others to offset tough competition from discounters and online retailers.
Under Joly, who took the helm of the company a year ago, Best Buy has instituted a price-matching policy, opened more in-store areas for manufacturers such as Apple and Samsung, and invested more to train employees.
Shares of Best Buy added 5 cents to $37.97 in afternoon trading. Earlier in the session, the stock hit $38, its highest point since December 2010. The stock has more than tripled since the start of the year.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Copyright © 2013 Microsoft. All rights reserved
Ahem, MSN. Did you know that Microsoft is also in the process of opening in-store areas at Best Buy as I type? I suppose this is why people think that Microsoft is too big. But if it were spun off into a half dozen companies do you think stuff like this would get better…..or worse. Maybe reporters just need to start reading the news as well as writing it.