Best Buy CEO giving all last years stock options to employees

[Nashyra]

This just on CNN, the Best Buy CEO recieved 31/2 million in compensation and stock options, he then turned around and gave all 200,000 of them to the employees to be divided up. That was cool.

[Occulus]

1. That IS cool.

My respect for Best Buy just went up a notch. I often shop there when I need tech stuff; this is one good reason to add to my list.

[Alerter_]

15. is Best Buy Union? If not, I'll shop elsewhere

anyone know?

[mzmolly]

2. That's great news. SHOP BEST BUY !!!!

:hi:

[havocmom]

3. Maybe some CEOs have ethics

or they read some history....

[Deja Q]

10. See post 9, and

If they'd hire knowledgeable people at reasonable wages, that's a better tradeoff than hiring a bunch of nobodies who'll vamoose in a few months who misinform customers.

I go to BB after doing my own research or in order to engage in research. I know I can't rely on them, unfortunately. :-(

[DebJ]

4. Is there a website link where we can say Thanks for being a leader keep

it up and I'll shop there?

[Nashyra]

7. You can go to their website

www.bestbuy.com and if you click on contact us you can find the address for the Corporate Headquarters

[utopian]

5. Truly amazing

Maybe others will begin to realize that life isn't simply about the accumulation of wealth.

[GoBucksBeatBush]

6. ads on faux...

now i'm cognitively dissonanted...i thought best buy was on the naughty list for advertising on faux news, been avoiding them for that reason. this does warm my tummy though...:-)

[billbuckhead]

12. It was an investment and I'd bet a lot a good tax deal.

I wish corporations went more for the developement of employees, it might surprise them. They might come up with an iPod.

[rocktivity]

8. I bought a car radio from Best Buy about three weeks ago, LOL!

Cool!

:headbang:
rocknation

[Deja Q]

9. Now if they'd only hire KNOWLEDGEABLE PEOPLE

Some of them are. But most of them are high school kids who just don't know anything.

I'm happy for them, this CEO has some character and it's not up to him to hand pick employees, but they've got to ditch the bullshit personality profiling and deal with people face-to-face instead.

[narcjen]

11. Nice gesture, but I don't know if those employees deserve it

Maybe that money would be better spent on providing better training for the employees. Best Buy has the absolute worst service I've ever seen. The employees there aren't just clueless, they're often rude and hostile toward customers. Which is why I go there only if I have to and only for small stuff like batteries and film, never big ticket items.

[Eric J in MN]

13. Link to an article about this

http://www.startribune.com/stories/535/4781506.html

Best Buy CEO passes up $7.5 million
Patrick Kennedy, Star Tribune
May 18, 2004BBUY0518
Best Buy Co. Inc. CEO Brad Anderson earned $3.2 million in pay last year, but he turned down another part of his compensation: 200,000 stock options with a potential value of $7.5 million.

Instead, he will give the options to non-executive employees at the fast-growing consumer electronics retailer.

The 200,000 options represent the total award Anderson was entitled to under Best Buy's long-term incentive plan, according to documents filed late Monday with the Securities and Exchange Commission.

The company declined to comment on Anderson's decision, but John Fossum, a professor at the University of Minnesota's Carlson School of Management who monitors executive compensation trends, said such actions are rare.

"I've never heard of a situation like this before," Fossum said.

[linazelle]

14. Now I know just where to buy my TiVo thingamajiggy nt