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Will Best Buy Go Out of Business?

But that means he needs to be in charge, surrounded by the type of team he succeeded with at Starbucks.

I can't get past it. Why hire Gillett in the first place and then add to his job description if you did not have plans for him to become Best Buy CEO when the gig came available?

If I were a BBY long taking a drubbing, particularly on a sizable position, I would call for a shareholder mutiny and ask this inept board of directors that question along with many off-color variations of it.

The time to play nice is long gone. Best Buy has yet to pass the point of no return. But it needs to fire Joly and let Gillett drive it like he stole it by the company's next earnings report. The board might even be able to leverage some holiday quarter momentum as it explains what would hopefully be its final fit and start.

-- Written by Rocco Pendola in Santa Monica, Calif.

Rocco Pendola is TheStreet's Director of Social Media. Pendola's daily contributions to TheStreet frequently appear on CNBC and at various top online properties, such as Forbes.
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