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Best Buy Founder Makes $8.5 Billion Bid To Take Company Private 300

zacharye writes "Best Buy founder and the company's largest shareholder Richard Schulze has offered as much as $8.5 billion to take the company private. Schulze had been rumored to be preparing a takeover offer for some time, and he recently assembled a team of executives that will run the company if his buyout offer is approved. His offer amounts to between $24 and $26 per share, a premium of as much as 47% over Best Buy's stock price at Friday's close."

Suppressed Report Shows Pirates Are Good Customers 291

An anonymous reader writes "The movie and music industry think pirates are criminals and parasites who cost both industries billions of dollars in lost sales. In order to prove this fact a number of studies have been commissioned to help demonstrate the effect a pirate has on sales of entertainment. GfK Group is one of the largest market research companies in the world and is often used by the movie industry to carry out research and studies into piracy. Talking to a source within GfK who wished to remain anonymous, Telepolis found that a recent study looking at pirates and their purchasing activities found them to be almost the complete opposite of the criminal parasites the entertainment industry want them to be. The study states that it is much more typical for a pirate to download an illegal copy of a movie to try it before purchasing. They are also found to purchase more DVDs than the average consumer, and they visit the movie theater more, especially for opening weekend releases which typically cost more to attend."

Homeland Security Running NBC-Owned PSAs 240

An anonymous reader writes "A few months ago, Homeland Security's ICE (Immigration & Customs Enforcement) group started placing an anti-piracy video PSA on various domains that it had seized. What it didn't say was who created the PSA. A Freedom of Information Act request by Techdirt has revealed that the videos are actually created & owned by NBC Universal, but nowhere does Homeland Security publicly admit this. As Techdirt writes: 'Could you imagine how the press would react if, say, the FDA ran PSAs that were created and owned by McDonald's without making that clear to the public? How about if the Treasury Department ran a PSA created and owned by Goldman Sachs? So, shouldn't we be asking serious questions about why Homeland Security and ICE are running a one-sided, misleading corporate propaganda video, created and owned by a private company, without mentioning the rather pertinent information of who made it?'"

Take your work seriously but never take yourself seriously; and do not take what happens either to yourself or your work seriously. -- Booth Tarkington