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Best Buy founder ever closer to finalizing company buyout bid
Best Buy founder Richard Schulze may have stepped down as chairman of the board, but he's certainly not out. His plan to buy the turbulent company has reached the next step -- an agreement which pre-empts the formal offer. Schulze now has access to all the private numbers he'll need to put together an investor group within the 60-day timeframe. And, if this round is unsuccessful, it'll be next January before another bid can go to the Board of Directors, followed by direct shareholder offers if the second attempt fails. Given that Schulze owns 20 percent of Best Buy, he gets two seats-worth of voting power as long as he sticks to the agreed process. So, with a new CEO taking the reigns in September and the acquisition machinery in top gear, is there fresh hope for the big box retailer?
'The Shack' downsizes, opens Bullseye Mobile kiosks in many Target stores
Radio Shack is at it again, expanding your perceptions of the place that once actually sold radio components. A year after that ill-received 'The Shack' marketing campaign the company is now making a rather more substantial move, securing an arrangement with Target stores to see the creation of so-called Bullseye Mobile kiosks. This has started with a 100-store pilot program but, throughout this year and into summer next, the expectation is to prop them up in 1,750 big box locations. Something tells us they won't all be wired up for WiMAX, but we can hope. [Thanks, Breon]
