Consumer Biz Recap: Best Buy DECAPITATED, Dunkin Brands INVASION
Shares of Best Buy (NYSE:BBY) plummet and then rebound following word that its new chairman will be Hatim Tyabji, effective immediately, after founder Richard Schulze stepped back. Rumors on Thursday flew, as to what Schulze might do with his 20 percent investment in BBY, including one that said he might put the shares up for sale. However, a report in a Minnesota newspaper asks if he might take the company private, a task for which he would need to raise about $12 billion.
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Dunkin’ Brands (NASDAQ:DNKN) prepares its invasion of Florida, as it seeks parties who might like to open franchises there. The company began in the Northeast and seems to want to cover the U.S. with its footprint, which if realized could become one of Starbucks’ biggest worries. A timely question arises, however: will the current focus on obesity get in the way of Dunkin’s transcontinental parade?
Toyota (NYSE:TM) has new plans for Japan – it wants to develop and market an ultra-compact two-seat electric vehicle there, say reports. It is calculated that the product would list for less than ¥1 million, or $12,564.
New credit card (sorta): Ford (NYSE:F) intends to float its first issue of bonds since it regained investment-grade rating status. It is said that Ford will sell $1.5 billion of 5-year notes at 230 basis points over the comparable Treasury bill.
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