This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Best Buy Conspiracy Theory

NEW YORK (TheStreet) -- I'm in regular communication with many of the companies I write about. Even the ones I hammer on, including Best Buy (BBY).

To a person, I tell media/public relations people, VPs and CEOs that they do themselves, investors and consumers a disservice when they classify most -- and sometimes all -- of what they say as off the record. While an off-the-record talk might help "inform" what makes it online, it ultimately leaves far-too-many narratives out of a company's control. When you're as unsuccessful as Best Buy has been, that becomes a problem; it's not as if you can simply point to a track record of results.

Often, when a company talks, it's worthless. You get little more than the company line. However, by and large, an executive office open to challenging writers such as myself -- one the record -- ends up making my work -- be it bullish, bearish or something in between -- much better. For example, I would rather have Best Buy's take on what I learn via some digging, and the opinions I form as a result, than not have it.

As it stands, I can only use the counterpoints of a colleague, as I did in Jim Cramer: 'Hopelessly Old,' But Is He Crazy for Being Bullish Best Buy? That's fine and good -- and often more informative than hearing from companies directly -- but the best companies take stands against assertions they consider preposterous.

I finally received an on-the-record comment from Best Buy this past Friday. In response to my recent thoughts on its future, as it relates to the current board and management structure, I was told that my view amounts to ...

a conspiracy theory. And, like most conspiracy theories, it has no value.

You tell me if this summary of how I see things playing out qualifies as conspiracy theory. I will tell you this -- of the hundreds, if not thousands of Best Buy employees who read this article -- a considerable number do not share the company's official statement. And several former employees certainly don't.

Just as many would give me chest bumps and fist pumps in person as they would bitter scowls and right hooks.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,079.57 -42.44 -0.25%
S&P 500 1,996.74 -3.38 -0.17%
NASDAQ 4,557.6950 -11.9260 -0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs