Roundup: Execs leaving their companies under not-so-great terms
- CEOs First, a twist: Scott Thompson, the still-fresh CEO who left Yahoo amid a padded resume scandal, told the company’s board on Friday that he has thyroid cancer according to the Wall Street Journal, but that’s only part of the reason he’s out.
- women The $2 billion trading loss that JPMorgan Chase recently revealed has cost Chief Investment Officer Ina Drew, one of the highest-paid female executives in the financial industry, her job. Drew, a 30-year employee, made $15.5 million in salary last year alone.
- founders And Richard Schulze, the founder and chairman of Best Buy, will step down after an investigation found that he knew ousted CEO Brian Dunn was having a relationship with a female employee, but failed to tell anyone. Shultze had been with the company since 1966.
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10:35 // 2 years ago
Black Friday backfire: Best Buy’s profits nosedive on heavy deals
- 29% drop in Best Buy’s profits in the third quarter source
» Too many deals? Best Buy, which has become shorthand for “company that throws all its chips in on Black Friday,” lost its bet on this year’s Black Friday, as its third-quarter results (which include the waffle-iron-rioting-day) showed major weaknesses, as discounts got people into the stores but failed to get them to actually work as loss-leaders. ”They were more promotional and that doesn’t bode well for the holiday season, which is going to be very, very intense,” noted Barclays Capital analyst Alan Rifkin.
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11:08 // 2 years ago
From the Best Buy sale page:
HP TOUCHPAD CLEARANCE AND RETURN POLICY
Due to HP’s decision to discontinue its TouchPad product, Best Buy® will now provide clearance pricing for all TouchPad 16GB and 32GB models (SKUs 2842056, 2842092) regardless of previously advertised prices or promotions.
Best Buy will not accept customer returns or exchanges on clearance-priced TouchPads bought through any Best Buy channel.
Customers purchasing a TouchPad at clearance pricing will have a 1-year manufacturer’s warranty, fulfilled directly through HP, not Best Buy.
Customers who purchased the 16GB or 32GB TouchPad after June 19 may come into the store to get either a full refund or a refund of the difference between the price they paid and the clearance price.
Quantities are strictly limited. Limit 1 per customer. Best Buy cannot guarantee availability of inventory at this pricing at any particular Best Buy location or channel.
This is a change from yesterday, where we couldn’t even buy one.
11:16 // 2 years ago
More on the mysterious HP TouchPad situation
idroolinmysleep said: This is strange. the TouchPad page on HP’s own website has the $99 and $149 prices with links to a bunch of shopping sites (including BB) right there. Maybe they only want to sell them online?
» SFB says: That’s my best guess. Best Buy in particular took a bit of a hit on the TouchPad — they have a couple hundred thousand in stock, reportedly. You’ll notice that the HP site shows them at $99, but it is in fact not selling them at this time. — Ernie @ SFB
13:03 // 2 years ago