Best Buy (NYSE:BBY) founder and holder of a 20 percent stake, Richard Schulze, who quit last month as the company’s chairman and director, is reportedly mulling taking Best Buy private. The move would enable changes that could stem the continued loss in the value of his holding.
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Melco Crown (NASDAQ:MPEL) gets its foot in the door into the Philippine gambling industry after forming a joint venture with a local entity to develop, and maybe also manage a property; the venture is reported to hold one of only four licenses issued for the Manila Bay area.
Ford (NYSE:F) showed off the fuel efficiency of its 2013 models on a Detroit test track, claiming that it could offer eight models with efficiency better than 40 mpg by the end of the year, a number unrivaled by any of its competitors.
In written testimony submitted to Congress, Dish Networks (NASDAQ:DISH) defends its controversial ad-skipping service saying it could be used to keep children from seeing ads for fast foods and alcohol. Though the company is promoting the service as a means to differentiate itself from rivals, content providers such as Comcast, Fox and CBS are understandably miffed with this new “autohop” technology and have gone to court against Dish.
Car rental firm Dollar Thrifty (NYSE:DTG) unveils plans to set up nine new stores in the U.S. for boosting annual revenue by 1 to 2 percent. “We are not targeting the insurance replacement business, as we believe that market is already fully served by other rental car companies,” says Scott Thompson, President, CEO and Chairman of the Board.
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