cobalt_27
Footballguy
That's fundamentally not understanding (a) history and (b) human behavior/trends. The whole model is extinct. See Tower Records circa 2000.Fantasy Football - Footballguys Forums
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STOCK TIP: Best Buy (BBY) (1 Viewer)
- Thread starter Eminence
- Start date
That's fundamentally not understanding (a) history and (b) human behavior/trends. The whole model is extinct. See Tower Records circa 2000.
GroveDiesel
Footballguy
I knew Best Buy was in a lot of trouble the first time i walked in one years ago and saw musical instruments. Who would go to BB and buy an acoustic guitar or trumpet? And were people really buying large appliances from them? Once the majority of the population figured out that $50 USB and $200 speaker cables were a joke and that the warranties they sell are a ripoff, their entire profit structure disappeared. The ONLY positive they provide is a hands on experience before you buy. And they have no clue how to leverage that in any way.
bentley
Footballguy
Dammit. I wanted to be the first person to pull out that line. Let's go with Pickles "been there not even a year" bit as what we should mock now.
Josie Maran
Footballguy
Amalgamated Spats is a loser. 
BuddyKnuckles
Footballguy
Please See Mine
Footballguy
Can't go wrong with Congreve's.
Das Boot
Footballguy
So should I interpret your non-response to mean there's no link to your earlier post and you have no additional reasons?
Ignoramus
Footballguy
Good call.
Ignoramus
Footballguy
Ignoratio Elenchi
Footballguy
Don't beat yourself up. Obviously have to give him some credit for calling it a buy when it was at $12 and now two months later it's at $16, buta) It was buried in a Shark Pool thread about the tight end on the Vikings. I assume that, like me, you and just about everyone else here had no idea what OP was talking about when he said, "I'm posting this again," andb) OP still hasn't really provided any compelling reason to buy, except
'Eminence said:
'Eminence said:
Politician Spock
Footballguy
I bought something at Best Buy this week for the first time in ages... a juicer.
Politician Spock
Footballguy
'proninja said:
Idiot Boxer
Footballguy
How do you feel about Olive Garden futures?
market wasn't open today.
St. Louis Bob
Footballguy
I've been holding this for 150 years and then I read this today. :(
St. Louis Bob
Footballguy
BuddyKnuckles
Footballguy
St. Louis Bob
Footballguy
Ignoratio Elenchi
Footballguy
Are you watching me, lol? I work at Olive Garden and am bullish on Darden. They own Red Lobster, Olive Garden, and a few other franchises and are opening a lot of stores.They are acquiring assets to lower their costs.IE: Buying acreage to farm for their own lobster.
Chadstroma
Footballguy
I agree. I do not see how Best Buy has a road to prosperity again. They have been retreating for years because they are basically the non-paid show room for Amazon or whatever other internet retailer. Not sure why anyone would buy them.... then again, I could not see why anyone would buy K-Mart but they did. But it seems much more like a blind luck gamble than an investment. No thanks.
Ned
Footballguy
Has to be shtick.
Drifter
Footballguy
The difference is that if your TV from Amazon has a problem, they'll send you another no questions asked while Best Buy will give you an endless runaround.http://www.wired.com/business/2013/02/why-dont-people-hate-amazon/
St. Louis Bob
Footballguy
Drifter<
CletiusMaximus
Footballguy
I may have to liquidate my entire VISN position to get in on this.
cstu
Footballguy
Maybe he didn't see that it closed at that on Friday.
Bob Sacamano
Footballguy
I'm planting some lobsters this weekend. Thank god they're self-pruning.
If Amazon off the same day delivery that'll help a good bit, but I personally hate buying big ticket items online. Anything over a couple hundred and I'd rather deal with B&M. I'm relatively close to ABT Electronics and they've matched online prices for as long as I've shopped there. I just figure out what I want online, call up their customer service, and make it happen. Plus, I'd much rather support a small local operation like ABT as opposed to some giant mega corporation like Amazon. I would have likely bought one of my TV's during this span from Best Buy if they would have price matched since they're much closer, but they gave me the run around and said I'd have to come into the store to discuss it. I told them ABT had already agreed to a price match and I was just giving them an opportunity and no budge. Well, screw you then.I definitely see this increasing their sales.
Oh, and I actually did get my last TV from Best Buy since everyone had almost identical pricing on this stuff during the holidays and one of our vendors sent me a $100 gift card. Last thing I got there before this was Skylanders and little crap though. Kids aren't really interested in waiting for shipping when you give them a reward.
TenTimes
Backhoe Operator
Theyve been doing this for over a year (amazon, not 3rd party sellers through amazon, which they still wont do). They are rolling out a new price match concept but its actually a step back from the one they have in place, and best buy mobile, about the only thing keeping best buy afloat, is being excluded. Tread lightly. The only way I can rationalize the moves best buy has made over the past year is to think that they're ultimately planning to market a "how not to run a big box store" playbook which will easily have better margain than the TVs and computers they sell, and they'll scale down to an "appsessories" only store.
Run It Up
Footballguy
Just curious why people think Best Buy, or any another electronics store for that matter is gonna be open ten years from now.Surely there arent enough people in this world still willing to accept their terrible service, products, atmosphere and price fixing simply for the sake of being able to walk into a physical location and buy something.
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rabidfireweasel
Footballguy
If the topic was: Stock Tip: Best Buy, I probably would not have been interested, or even opened the thread.However, since Eminence showed he meant serious financial business by using all caps: STOCK TIP:, I am very interested, and will follow the market closely.If he had been bold enough to post it this waySTOCK TIP!!!! BEST BUY (BBY)!!!!!!!! I would probably be in BBY!!!!!! mid-six to low seven figures by now.
Frostillicus
Footballguy
Do you guys who wish for the end of Best Buy not realize how many people would lose their jobs or not care? I'm actually curious.
Mr. Pickles
Footballguy
I don't wish for their end as much as I've observed their slow motion demise over the past five years.
Frostillicus
Footballguy
This I understand, and all too well.
It's not so different from when switchboard operators, telegraphists, or soda jerkers lost their jobs. Having to find a new job can be a pain in the butt, but ultimately, when old ways of doing things are replaced by new, more efficient ways, it's a net social benefit. The general shift from big-box retailing to online retailing won't be good for Best Buy employees, but it will be more good than bad for most people ... which means that we should want it to happen.
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Doctor Detroit
Please remove your headgear
'xulf said:
Frostillicus
Footballguy
Well it's different if it effects (affects?) me. I'm a pretty big deal around here.
Reduced competition and limited consumer choice aren't always beneficial. There's plenty of people that take exception to places like Walmart due to them putting countless small businesses out of business while treating their employees poorly, and Amazon seems to have some history of this themselves.There's also the fact that the way our laws and tax codes are set up that these mega corporations have an inherent advantage. I can't sell most SMB products profitably because there's no way to compete with a place like Amazon's pricing, even buying my products from other large distributors. Instead I have to give the customer a list, tell them to buy it themselves, and I'll install it for them. That's not really an improvement in efficiency, although it is nice to avoid the up front capital expenses on my end and put that on the customer so there's less risk on my end should they not pay in a timely fashion. And much of this is because they can do things like avoid taxes a lot better than most due to their size. They also have a built in subsidy due to the way sales taxes are structured.
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They're seldom beneficial. Of course, Best Buy is struggling because of increased competition and greater consumer choice, not because of reduced competition and limited consumer choice.
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sporthenry
Footballguy
Yeah, at the moment it is beneficial to the consumer, but the point is, companies like Wal-Mart can sell all this stuff at lower costs which drives companies out of business, thus reducing the amount of competition. Now that isn't to say Wal-Mart can charge whatever at that point b/c other companies will pop up but on the whole, the customer losing options like it will and has done with places like Circuit City and Best buy going out of business will hurt them.
Some of their bigger competitors like Circuit City went out of business. Seems there's less people doing what they do today than say 5 years ago. But the main competition people are referencing here is subsidized by the government by being able to avoid charging sales taxes, which creates an uneven playing field.As that pushes Circuit Cities and Best Buys out of business, I don't see how that helps the consumer.
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They went out of business because they were out-competed. I haven't studied the issue, but my unscientific observation is that the Internet has increased, not decreased, competition in the retail sector. (A good test for this would be whether margins have been increasing or decreasing lately. Increased competition generally means lower margins.) Staples, Walmart, Office Depot, Costco, Sears, et al. are still going strong (and even Best Buy's demise may be greatly exaggerated), but now they're joined by Amazon, Newegg, Overstock, Zappos, ThinkGeek, 1saleaday, and others.I think it would be very difficult to argue that the Internet has been bad for consumers.
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