The Busy Lens

Views from New Hampshire 1/2/12

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Why Best Buy is Going out of Business...Gradually - Forbes

Electronics retailer Best Buy is headed for the exits. I can’t say when exactly, but my guess is that it’s only a matter of time, maybe a few more years.

Consider a few key metrics. Despite the disappearance of competitors including Circuit City, the company is losing market share. Its last earnings announcement disappointed investors. In 2011, the company’s stock has lost 40% of its value. Forward P/E is a mere 6.23 (industry average is 10.20). Its market cap down to less than $9 billion. Its average analyst rating, according to The Street.com, is a B-.

Those are just some of the numbers, and they don’t look good. They bear out a prediction in March from the Wall Street Journal’s Heard on the Street column, which forecast “the worst is yet to come” for Best Buy investors. With the flop of 3D televisions and the expansion of Apple’s own retail locations, there was no killer product on the horizon that would lift it from the doldrums. Though the company accounts for almost a third of all U.S. consumer electronics purchases, analysts noted, the company remains a ripe target for more nimble competitors.

The numbers only scratch the surface. To discover the real reasons behind the company’s decline, just take this simple test. Walk into one of the company’s retail locations or shop online. And try, really try, not to lose your temper.

I admit. I can’t do it. A few days ago, I visited a Best Buy store in Pinole, CA with a friend. He’s a devoted consumer electronics and media shopper, and wanted to buy the 3D blu ray of “How to Train Your Dragon,” which Best Buy sells exclusively. According to the company’s website, it’s backordered but available for pickup at the store we visited. The item wasn’t there, however, and the sales staff had no information.......

There is snow in New England

Photo shot along the Kancamagus Highway in NH

Endangered Right Whales Close Canal

A Couple of Endangered Right Whales Spent the Morning Swimming in #CapeCod Canal. Canal is Shut Down to Maritime Traffic.

The Cape Cod Canal has reopened after a four-hour closure caused by a pair of right whales traveling through the waterway.

Shortly after 9 a.m., the whales were spotted traveling in the canal, said Dennis Arsenault, a marine traffic controller with the Army Corps of Engineers.

The whales were last spotted travelling east from the Sagamore Bridge in a strong current and it's believed they made their way into the Cape Cod Bay, Arsenault said.The sighting spurred the Corps to temporarily close the canal and two government ships were sent out to keep tabs on the animals.

The canal was reopened at 1 p.m.

Fire Erupts At Atkinson Country Club - New Hampshire News Story - WMUR New Hampshire

Fire Erupts At Atkinson Country Club - New Hampshire News Story - WMUR New Hampshire

Atkinson, N.H. -- Fire officials on Monday said grease was to blame for a fire at the Atkinson Country Club last night.

Atkinson Fire Chief Michael E. Murphy said a likely grease fire spread into an exhaust system inside the country club's kitchen. Heat from fire breached through a metal duct and spread into the attic.

Around 6:30 p.m. Sunday night, firefighters rushed to the Atkinson Country Club.

“I believe there were people here but they didn't know there was a fire until the alarm came in,” said Ron Gale of the Atkinson Fire Department.

“It was a very labor-intensive fire, some damage in there, but not extensive, just a lot of effort to get the fire out,” said Gale.

Firefighters from a half dozen towns responded.

“Because of the size of the building, and the number of alarms, the potential for it to be a big fire is there. It is better to have more people than not enough,” said Gale.

As crews worked, employees and neighbors watched. Firefighters said they took precautions to avoid a roof collapse, venting it and pulling out the duct work. Other than kitchen and attic damage, one motel room did sustain minor damage. Authorities said the cause of the fire is still under investigation.

In a statement, the Atkinson Country Club said they would re-open today.