Twit-bits: Best Buy’s Buyout Bid and NASA Comparison

Aug 07, 2012 6:00 PM  By

Yesterday morning, Wall Street Journal announced founder Richard Schulze offered to take Best Buy private in a deal valued at $8.8 billion. Schulze is the largest shareholder, and he would acquire all the remaining stocks.

Steve Gandel of CNN Money says the deal is intriguing, but the chances of anyone lending Schulze that kind of money is far-fetched.

Here’s an interesting fact: Those coolers and candy racks near the checkout stations seem to be paying off for Best Buy.

U.S.News & World Report chief business corespondent Rick Newman says “some on Wall Street think Schulze is bluffing, with his offer reflecting a sense of desperation over how to right the struggling retailer.”

“What Best Buy did over nearly a decade was nearly undone in just over two years,” wrote Douglas A. McIntyre. “For the reasons he gets credit, Schulze also gets the blame.”

Then there’s the case of mistaken identity… did Best Buy employees really land NASA rover Curiosity on Mars?