Is BestBuy SubPrime?
It just spent billions of dollars buying back its own stock heading into a recession leaving the balance sheet vulnerable.
Even though Circuit City is having its own problems, BestBuy is facing improved electronics competition from WalMart, Target and Costco.
The icing on the cake.........those no money down 2 year interest free loans that BestBuy depends on for a material portion of its sales.........anyone think those are subprime loans? With that portion of the market drying up, do you think BestBuy might have some problems obtaining financing for its customers going forward?