MarketFoolery: 04.10.2012
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 10 April 2012
⏱️ 18 minutes
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Summary
Best Buy's CEO steps down. Facebook makes a big buy. And Cracker Barrel fights off a big suitor.
Transcript
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| 0:00.0 | Welcome to Market Foolery. It's Tuesday April 10th. I'm Chris Helen joining me in studio today for |
| 0:06.7 | Motley full stock advisor Jason Moser, for Motley Cool Asset Management, Tim |
| 0:10.1 | Hanson and Bill Mann gentlemen Gentlemen, happy Tuesday. |
| 0:12.8 | Hey, hey. |
| 0:13.9 | We've got Facebook's new billion dollar toy. |
| 0:17.0 | We've got the battle for the control of Cracker Barrel, |
| 0:20.4 | which I can't believe I just said. |
| 0:21.6 | But yes, it is actually a battle for the control of |
| 0:23.9 | Cracker Barrel we're gonna start with Best Buy. Best Buy announced that |
| 0:28.0 | Brian Dunn has resigned as CEO and director, |
| 0:30.9 | Director Mike Mikeen has been named Interim CEO. |
| 0:34.8 | Dunn started 28 years ago as a store clerk. |
| 0:37.4 | He's been CEO for the past three years. |
| 0:39.8 | Jason, that's a nice story in and of itself I think that he started his historical |
| 0:45.2 | clerk and ended up as CEO but I was gonna say but but I should also |
| 0:51.1 | mention that when this news broke shares of Best Buy shot up about 3%. |
| 0:56.0 | Yeah on a bad day too, I mean, I don't want to really say anything too terribly bad about the |
| 1:00.4 | former CEO here of Best Buy because I think that it wasn't really so much a product of what he did there |
| 1:05.8 | I think Best Buy is just in a real tough situation here with a bunch of |
| 1:09.2 | stores that are just glorified showrooms for Amazon and they're ilk. |
| 1:13.6 | So the internet is more to blame, I think, than actual done. |
| 1:18.2 | So we have this interim CEO, presumably they're going to do a search and bring in a new CEO for you know quote |
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