Richard Schutze statement to the board of Best buy.
I cannot emphasize strongly enough how much i believe in Best Buy and its future and how i welcome the opportunity to do what is best for shareholders and Best Buy.
Well Richard when you made bullchit bids and sold stock for profit while other shareholders bought thinking that your high bid was going to make them money, were very disappionted to see the stock fall a few days later only demonstrates how you lined your pockets at shareholders expense.
Then the second bid to buy Bestbuy worked in your favour to drive down the value of the company so you can eventually make an excuse how to pick it up even cheaper and cause more pain to shareholders.
You are a poor excuse for a CEO that's why BestBuy got rid of you. Your sole purpose is to screw the board and punish them for firing you. In the end you will devalue the share price, hurt small investors, mutual fund, pension fund investors. All of this so you can gain control of a company for next to nothing. Insiders are dumping shares fast they know that a show down is going to happen and they can drive your shares to worthless. The show down will be your low bid, and the board turning down your offer.
But i take comfort in realizing that your actions will cause the board to drive this company into receivership before giving the you the opportuntiy to take control and eventually private ownership.
I take great comfort in knowing the name BestBuy will always be better known than Richard Schutze and the fact that you do own many shares that are losing value rapidly every day.
Investors don't buy this company unless the share price falls under $6.40.
Richard's friends need to make 20% to finalize this deal so 8.00 x 20%=1.60 9.60 share. Deduct poor xmas sales -20% target of $6.40 cents share.
This will be all shareholders can expect when it comes from a CEO that has been told there's the door don't let it hit you on the backside on the way out.