Seems Best Buy was going down the tubes
fast according to one report I read.
It's probably a good thing for the current employees since they will keep their jobs for the time being - but on the other hand their current jobs are still hanging as far as future employment goes.
Quote:
The company reported Monday that it lost $6.9 million in the most recent quarter, compared with $1.8 million in the same period last year.
"We're realists," said Kenneth Weller, Good Guys' chief executive officer.
"There is a short-term reality for us, and that is the reality of a soft economy. There is a long-term reality, and that's the need to compete."
Privately held CompUSA will pay $2.05 for each outstanding share of Good Guys stock, a 37 percent premium over its Friday closing price of $1.50. The stock closed at $1.97 Monday following news of the acquisition.
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