According to today's press release, Schulze "acted inappropriately" with his handling of the Dunn scandal.

This morning, Best Buy announced that founder Richard Schulze is stepping down as chairman in the wake of the scandal surrounding former CEO Brian Dunn.

The announcement comes after an independent investigation into the Dunn scandal found that Schulze "acted inappropriately" when he first heard about Dunn's "extremely close" relationship with a female staffer last December. Instead of informing other board members about the allegations, Schulze confronted Dunn but apparently kept the matter between the two of them.

Dunn's resignation last month was originally portrayed as a "mutual agreement that it was time for new leadership to address the challenges that face the company," but just hours later the Star Tribune reported that the company's board of directors had begun an investigation into Dunn's personal conduct.

More »

Dayna Cline works at Best Buy's Leadership Institute

Details are beginning to emerge about the woman who led to the abrupt resignation of Best Buy CEO Brian Dunn on Tuesday morning, and the Star Tribune seems to think it knows her identity.

On today's front page, the mystery lady was described as a "29-year-old woman who worked at Best Buy's leadership training institute at its headquarters in Richfield."

Dayna Cline is the "Leadership Institute Coordinator" for Best Buy and appears to be about 29 years old based on publicly available photos.

More »

It must've been the mustache.

Land of 10,000 Lakes? In recent months, it's been more like the Land of Inappropriate Relationships.

The latest indiscretion comes courtesy of former Brian Dunn, the former Best Buy CEO who resigned on Tuesday morning. Dunn's resignation was originally portrayed as a "mutual agreement that it was time for new leadership to address the challenges that face the company," but just hours later the Star Tribune reported that the company's board of directors had begun an investigation into Dunn's personal conduct.

Today, the Strib's Tom Lee reports the the board is investigating whether Dunn "used company resources to carry on an inappropriate relationship with a female staffer." The staffer in question hasn't yet been named.

More »

Dunn was CEO for three years, during which time Best Buy struggled to adapt to an online-dominated marketplace.

Less than two weeks after announcing a major restructuring plan involving store closings and layoffs, Brian Dunn has resigned as Best Buy CEO.

The split was reportedly amicable, but some are suggesting Dunn's departure is mutual in the sense of, "all the girls in high school and I mutually decided not to go to prom together."

Richard Schulze, the founder of Best Buy, will continue to serve as chairman. Board member G. Mike Mikan (grandson of Minnesota Lakers basketball legend George Mikan) takes over as interim CEO. A search committee has already been formed to find Dunn's full-time replacement.

More »

Best Buy is taking it on the chin right now, but has plans to regroup and fight back.

​The short-term outlook for Best Buy isn't good, but the world's largest consumer-electronics retailer is trying to position itself for long-term viability.

Today, the company announced a loss of $1.7 billion for the fiscal quarter ending March 3. Best Buy plans to close 50 stores in the U.S. by next year and cut costs by $800 million over the next several. 400 jobs will be lost in the process.

But Wall Street is apparently comfortable with Best Buy's long-term outlook, as the company's restructuring plan prompted its stock to rise by more than 4 percent in early trading.

More »

Best Buy's NASCARs will be front and center during this weekend's Daytona 500.

​Hey look, Best Buy is in the news because it got something right for a change!

Following last season, Best Buy decided to switch its NASCAR sponsorship from Richard Petty Motorsports to Roush Fenway Racing. And it already looks as though that switch will already pay off in hundreds of thousands of ways for the Richfield-based company.

Roush drivers Carl Edwards and Greg Biffle finished first and second during qualifying for the Daytona 500, meaning two cars prominently splashed with Best Buy logos will initially be at the head of the pack during NASCAR's marquee race next weekend.

More »

Best Buy: More hated than Walmart? 24/7 Wall St. thinks so.

​Best Buy has been receiving a lot of negative publicity lately, and that trend continued when 24/7 Wall St. published its list of the 10 most hated companies in America.

Using an algorithm including factors like consumer satisfaction, customer care, pricing of products and services, brand impressions, present earnings, and profit forecasts, the investment analysis publication pegged Best Buy as the sixth most hated company.

Perhaps the list should be taken with a grain of salt, however. Somehow, Walmart didn't crack the top 10.

More »

Best Buy has been beseiged by bad news this holiday season.

​Could one of the Twin Cities' largest companies be on the road toward ending up in the tar pit of retailers along with Circuit City and Ultimate Electronics?

Possibly. A Forbes piece published yesterday makes a strong case that Richfield-based Best Buy is headed for extinction.

More »

BarryJudge.com.

In a letter, Judge says no other info was stolen in the hack.

This is one computer problem the Geek Squad can't solve.

For the second time in a month, the private information of Best Buy customers has been compromised.

This time, a hacker broke into files of a former Best Buy business partner. Best Buy didn't respond to an interview request, but it sounds like the digital thief only made off with customer e-mail addresses.

More »

Father Luke Strand learns Best Buy takes copyright issues very seriously.

It must have seemed like a good idea at the time to Father Luke Strand back in seminary: Gussie up a Volkswagen Beetle to mimic those Best Buy "Geek Squad" cars used by the company's house-call nerds. Have the logo on the door read "God Quad." Paint the car black with a priest's collar on the hood. Use it to spread the gospel.

More »