Best Buy warns on profit; U.S. unit head to leave

(Reuters) - Retailer Best Buy Co Inc on Wednesday warned earnings and same-store sales would fall for its fiscal third quarter, and said the head of its U.S. business will leave as it starts to restructure under a new chief executive.

Best Buy shares fell 6.8 percent in after-hours trading. The news came less than a month before the unofficial start of the biggest selling season of the year for the No. 1 U.S. electronics chain.

U.S. business president Mike Vitelli will exit at the end of the current fiscal year in early February with a lump-sum payment of $1.45 million. The executive vice president of U.S. operations will also depart.

The move is the first big structural change under new CEO Hubert Joly, who was brought in as the company grapples with the rising trend of shoppers who treat its stores like showrooms for cheaper online retailers.

In August, the world's largest consumer electronics chain suspended profit forecasts and share buybacks for the rest of the year to give its newly named chief executive time to construct his own turnaround plan.

The company is also waiting for its former CEO and largest shareholder, Richard Schulze, to decide whether he can put together a buyout bid.

Yet one analyst said the most troubling news of all was a decline in the company's gross margins, which suggests how aggressive it has become with promotions to lure customers.

"If they try to compete on price they are doomed. Their cost structure doesn't allow that," said Wedbush Securities analyst Michael Pachter. "They have to figure out how to charge a higher price and make shopping in their stores a rewarding experience."

EARNINGS WEAKNESS

Best Buy said it now expects earnings for the fiscal third quarter ending November 3 to fall "significantly below" those of a year earlier, excluding one-time items, due to falling margins and declines at sales at established stores.

Analysts polled by Thomson Reuters I/B/E/S on average had expected earnings per share of 36 cents in the quarter. In the fiscal third quarter a year earlier it earned 47 cents per share on an adjusted basis.

"I think people were looking for more out of the third-quarter results given that we had some big product launches," said Morningstar analyst R.J. Hottovy. "Even though it was toward the end of the quarter, you had the iPhone 5 out there."

The retailer also warned same-store sales would decline in the low-to-mid single digits for the period. Best Buy has posted same-store sales declines in eight of the last nine quarters.

Best Buy shares fell to $15.77 in after-hours trading from a $16.92 close on the New York Stock Exchange. The company also said Wednesday that it would hold an investor day on November 1 to discuss Joly's plans for the future.

(Reporting by Brad Dorfman in Chicago and Dhanya Skariachan and Phil Wahba in New York; Writing by Ben Berkowitz; Editing by Gary Hill, Leslie Adler, Tim Dobbyn and Andrew Hay)

Source: http://news.yahoo.com/best-buy-head-u-business-leave-company-sees-204637786--finance.html

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Peter Perez -- Day of The Dead! 10/24 by NuLife Radio | Blog Talk ...

  • On AirLoading

    Lori Saitz is a nationally recognized expert in using gratitude to boost client retention and increase referral business. She is the founder of Zen Rabbit, which is a concierge type company specializing in helping business professionals ?multiply profits.

  • We have Grammy award winning record producer Mr Bangladesh for a special 2 hour special, promoting his new artist and music career.

  • Marx & Julie chat with British filmmaker Chris Stone, the writer & director of the Victorian vampire web series turned feature film called Blood and Bone China. As if that wasn't enough, we also speak to our featured indie music artist of the week, Birthrite.

  • Native American Movement founder Russell Means was laid to rest yesterday at his home on Pine Ridge Reservation, South Dakota. He is remembered with comments, stories, and prayers.

  • Listen to an exclusive interview with the brother of the late GREAT Benjamin "Benji" Wilson; Jeff Wilson. To discuss the 30 for 30 documentary "BENJI" on the life and death of Benji WIlson.

  • Gus Speth, author of AMERICA THE POSSIBLE, shares his vision of comprehensive and deep change rooted in a political economy that sustains people, communities and nature. Long time Washington insider, he now is part of the protest movement.

  • One of Radio One?s top DJs, DJ Kayotik will be on with us to talk about career, current mixtape KAYOTIK KHRONIKLES VOL. 1, and youth organization.

  • Legendary singer, Tony Bennett kicks off our new Storytellers series with a special live interview. Join hosts Eric Olsen (@amhaunted) of America?s Most Haunted and Chitra Agrawal, BlogTalkRadio?s own Director of Marketing, for the premiere.

  • Queen Afua, has been an expert in Holisitc Health, a lecturer/author for 40 years. She'll be joined by Kilindi Iyi, world renowned lecturer and Master of The African Martial Art.

  • Health & Fitness is on tap when international fitness model Charles Flanagan and IFBB pro fitness competitor Donna Jones from Australia tackle everything from nutrition & exercise to the psychology of living well. They will be speaking to callers LIVE.

  • Stacey Monroe welcomes Rico and J-Rod from the group Recognition to E! GEMZ! Radio to speak about their music career and life. How did they form Recognition? What did they both give up in order to pursue their music career? Tune in to find out.

  • Big Blend Radio talks with outdoorsman and naturalist Jay Erskine Leutze about his acclaimed book STAND UP THAT MOUNTAIN: The Battle to Save One Small Community in the Wilderness Along the Appalachian Trail.

  • Teen hosts McMillen, Janae, Jackie, Jessica, and Salwa discuss common sex myths. Our guests, Crystal Collette and Caitlin Mcardle from Planned Parenthood, are here to give us the facts.

  • This week on the BIG show, host Tim Gordon will talk with writer/director Matthew Cherry about his upcoming drama, The Last Fall. The semi-autobiographical tale tells the story of an NFL journeyman who struggles to deal with life after the game.

  • Super role model, Valerie Jeannis, heralded as ?the Catalyst?, joins the Feminine Soul Radio show and talks about her new book I Am Beautiful: Changing the Way You See Yourself. Valerie will inspire you to say yes to your life and take action on your dreams.

  • Dawn-Marie Hanrahan is a #1 Bestselling Author and Spiritual Leader, who travels the world educating others.

  • In the dark, driving tasks like looking at other vehicles ahead and reading road signs are more difficult for some drivers. With the end of daylight savings only eight days away, tune into Healthy Vision? with Dr. Val Jones to learn how to take better care of your eyes ? and your car ? to improve your nighttime driving.

  • The Phantom Zone Radio Show welcomes actor, screenwriter, and film editor, Camden Toy. He is best known as a character actor in the series, Buffy The Vampire Slayer and it's spinoff series, Angel.

  • Join Weigh In Sports as they talk to the CEO of BCS.net Magazine, Robin Bayless. They will discuss the new BCS standings, the founding of the magazine in such a competitive market, the writers and much more.

  • Source: http://www.blogtalkradio.com/nuliferadio/2012/10/24/wednesday

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    Recipe: Yachae Kalguksu (Korean Knife Noodles with Vegetables ...

    2012_10_24-kalguksu1.jpg Trying to reproduce a beloved relative's signature dish is often futile, especially when recipes are unrecorded and our dear ones are no longer with us. In this case, I was inspired by my father-in-law's kalguksu, or Korean "knife noodles," despite the fact that I sadly never got to meet him nor taste the noodles that my partner remembers so fondly. While my version could never match the original, I think I can safely say these noodles are a fabulous comfort food.

    2012_10_24-kalguksu2.jpgMy partner Gregory's father passed away before we met, but I know I would have adored him. Some of my favorite stories involve his love of food, and for over a decade Gregory has reminisced about his dad's handmade noodles. Kalguksu literally means "knife noodles" in Korean, and these knife-cut wheat noodles are typically served in a broth, although there are dozens and dozens of variations with different meat, seafood, and vegetables.

    I'm not sure what took us so long, but recently we decided it was time to try and recreate this famed dish. Between Gregory's fuzzy memory of the particulars of the broth and my vegetarianism, what we ended up with was not exactly like his dad's. But the soft, chewy noodles and the garlicky-gingery flavors in the broth met with Gregory's approval. As for me, I gained a new go-to comfort food.

    Despite being handmade, the noodles are really quite easy to make. No pulling is necessary; you just roll up the dough and cut it with a knife. Use a generous amount of flour to ensure they don't stick. Some people blanch the noodles separate from the broth, and you can do that if you prefer a more clear soup. However, Gregory remembered his father's version being more thick, so I simply cooked the floury noodles in the same pot. The garnishes ? green onions, ground sesame seeds, Korean red pepper flakes ? are essential, and if you like, you can spice it up even more with a swirl of yangnyeomjang, or korean seasoning sauce.

    2012_10_24-kalguksu3.jpg

    Yachae Kalguksu (Korean Knife Noodles with Vegetables)

    Serves 4

    For the noodles:
    1 1/2 cups flour, plus more for dusting
    1/2 teaspoon kosher salt
    1 teaspoon vegetable oil
    1/2 cup cold water

    For the soup:
    2 quarts vegetable stock (can substitute chicken stock)
    1/2 onion, sliced
    2 scallions
    6 cloves garlic, peeled
    2-inch knob of ginger, peeled and thickly sliced
    1/2 teaspoon peppercorns
    1/2 teaspoon salt
    1 medium potato, peeled and cut into half-circles
    1 medium Korean zucchini (hobak) or 1 regular zucchini, cut into half-circles

    For the garnish:
    1-2 scallions, green part only, sliced
    1 teaspoon roasted sesame seeds, coarsely ground
    1/4 teaspoon gochugaru
    About 2 tablespoons yangnyeomjang - korean seasoning sauce (optional)

    Combine the flour and salt in a large bowl. Add the oil and work it in with your fingers. Make a well in the center, add the water, and stir to form a soft dough.

    Turn the dough out onto a lightly floured surface and knead for about 10 minutes until smooth and firm. Cover the ball of dough with the bowl or plastic wrap and let it rest for at least 30 minutes.

    Meanwhile, bring the vegetable stock to a boil. Add the onion, scallions, garlic, ginger, peppercorns, salt, and potato. Reduce heat to a simmer and cover the pot.

    On a well-floured surface, roll the dough to about 2mm thick. Rub both sides with flour and fold it 4-5 times to make it easier to cut. Using a knife, cut it into strips about 1/4 inch wide. Gently toss the noodles with flour to separate the strands and prevent them from sticking together.

    Taste the soup and season with additional salt, if necessary. Add the zucchini to the pot and simmer until tender. Then add the noodles and simmer a couple minutes until tender.

    Serve garnished with scallions, sesame seeds, and gochugaru. If serving with yangnyeomjang, place it on the side so diners can add to taste.

    Related: Recipe: Vegetarian Dduk Gook (Korean Rice Cake Soup)

    (Images: Emily Ho)

    Source: http://www.thekitchn.com/recipe-vegetarian-kalguksu-korean-knife-noodles-recipes-from-the-kitchn-179281

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    Reservations

    The Love Cafe

    A new cafe has opened on the outskirts of town. Anything could happen but you didn't expect love to blossom. (Open)

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    NASA Engineers Building Mockup of Deep Space Station

    It isn't like space stations area new concept that has never been tried before. I'd dare say that unless you are planning on doing something really daring like a space station capable of holding about 100 people simultaneously and deal with significant logistical issues that sort of scale of activity presents, you aren't really cutting new ground in this area of human endeavor.

    The Manned Venus Flyby [wikipedia.org] looked like an interesting project that certainly would require things like radiation protection and long term sustainability in space without immediate or even short-term resupply. On the other hand, I wish they would expand upon the concept of the NAUTILUS-X [wikipedia.org], which instead of simply an Earth-Moon L-5 laboratory like seems to be presented with this article is a genuine spaceship (as opposed to spacecraft).

    The lack of using either a Trans-hab like module or one of the Bigelow modules seems to be a real lack of even seeing what the current state of the art technology in this area is even at. The idea of using cylinders that would need to be limited in size by the the cargo bay of a shuttle seems incredibly old fashioned thinking in particular. There is no particular reason why the quarters need to be cramped, other than the fact that the modules presumably must be built on the Earth and get through the atmosphere in some fashion first before being deployed. Space is huge, so mind bogglingly large that it seems ludicrous that quarters in spaceflight should be cramped at all. Mass has some role to play, but moving a cubic meter or two of air (which is needed anyway) is trivial by comparison.

    Bigelow Aerospace has been studying these issues, and will likely relegate projects like this onto the ashheap of other failed NASA programs like SLS, Constellation, Dynasoar, and DC-X. If they don't actually plan on building these things, I wonder in part why they even bother with progressing yesterday's technology one step further towards today.

    Source: http://rss.slashdot.org/~r/Slashdot/slashdotScience/~3/sab8E5PDyCQ/nasa-engineers-building-mockup-of-deep-space-station

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    Obama aggressive in foreign policy debate with Romney

    A police officer stands outside the debate hall at Lynn University before the final U.S. presidential debate in Boca Raton, Florida October 22, 2012. 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    Therapy for Relationships: More than Managing Conflict | Child and ...

    October 22, 2012

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    ?

    Couples and family members who enter therapy to improve their relationships have usually endured long periods of harsh conflict.? Couples might be caught in repetitive cycles of criticism and defensiveness; parents and teens might be trapped in power struggles; siblings may find themselves?in?escalating rivalries. ?Anguished to stop destructive arguments, people usually begin therapy focused on containing their conflicts.? Therapists can help clients to manage their conflicts by helping them engage in respectful communication focused on thoughts and feelings, and avoiding excessive blame, criticism, and stonewalling.? With improved communication, power struggles can become more manageable, and conflicts can more easily resolve.

    While less conflict and improved communication can offer relief, additional work is usually necessary to make lasting improvements in relationships.? Hurtful and unproductive communication often coincides with a weakening of relationship ties.? Harboring hurt or angry feelings, people in conflict usually grow more guarded, and begin to lose touch with others? experiences and inner worlds.??? They may offer fewer expressions of appreciation, fondness, and caring, and communicate less about daily needs, leading to further misunderstandings and mistrust.? Feelings of security, safety, and enjoyment begin to wane.

    John Gottman, a Psychologist from Seattle, Washington who has studied relationships for over 30 years, likens a sound relationship to a ?house?.? He sees conflict management, while essential, as the ?middle part? of a relationship?s house.? The house?s ?foundations? involve understanding others? inner worlds, sharing fondness and admiration, attending to others? needs, and developing an overall positive perspective, all of which build up what Gottman calls an ?emotional bank account? that can be drawn on during difficult times.? Effective relationship therapy not only helps people to manage conflict so that they do not ?draw down? their emotional accounts, but also helps them build up goodwill by focusing on their relationships? foundations.? Therapists might encourage family members to ask questions that demonstrate curiosity, or encourage them to express appreciation. They might encourage children and parents to play together, or ask couples to spend some time each day kissing or hugging each other, or just holding hands.

    Conflict is an inevitable aspect of close relationships.? The struggle of children for more choices might conflict with a parent?s need to set limits; the need of one member of a couple for autonomy might conflict with their partner?s need for intimacy.? Therapy can be an excellent vehicle for minimizing destructive conflict and developing more productive communication, but it can also be a vehicle for people to rediscover the security, trust, appreciation and joy that are essential to the success of intimate relationships.

    ?

    ?Posted by Jonah Green


    Source: http://www.childandfamilymentalhealth.com/couples/therapy-for-relationships-more-than-managing-conflict/?utm_source=rss&utm_medium=rss&utm_campaign=therapy-for-relationships-more-than-managing-conflict

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    Report: Multiple people shot near Wisconsin mall

    Nick Iannelli of WTMJ radio in Milwaukee talks to MSNBC-TV's Richard Lui about the shooting.

    By M. Alex Johnson and Tricia Culligan, NBC News

    New in this version: Suspect identified; possibility of explosive device in salon investigated

    Updated at 3:14 p.m. ET: Police were looking for a suspect after several people were shot at a hair salon near a mall Sunday morning in the Milwaukee area, witnesses and police said.

    Todd Hicks, Susan Kim and Jermont Terry of WTMJ-TV in Milwaukee contributed to this report by M. Alex Johnson and Tricia Culligan of NBC News. Follow M. Alex Johnson on Twitter and Facebook.

    Authorities were investigating the possibility that an improvised explosive device may have been left in the salon, which is across the street from?Brookfield Square in Brookfield, about 10 miles west of Milwaukee. Bomb squads and?FBI tactical and hostage teams were on the scene, authorities told NBC News.

    Four people were being treated at?Froedtert Memorial Hospital, none of them in critical condition, and three more were expected, Beth Strohbusch, a spokeswoman for?the hospital, told NBC News.?

    No children were believed to have been injured, according to the hospital, which was on lockdown with the gunman at loose.


    Witnesses said the shootings happened either at or near the Azana Salon and Spa, across Moorland Road from the mall. Brookfield Square was closed as SWAT team members scoured the area for the suspect, identified as Radcliff Franklin Haughton, 45, of Brown Deer, about 15 miles north of Milwaukee.?He was described as?an "ethnic" male, 6 feet, 2 inches tall, weighing about 210 pounds and last seen wearing a grey sweater with blue jeans and carrying a white and black backpack.

    Police were surrounding Haughton's home in Brown Deer, NBC station WTMJ of Milwaukee reported.

    Two workers at the salon said he was the estranged husband of one of their co-workers, a hairstylist. They said they didn't know whether he had left or was still in another part of the building.

    Watch live coverage on WTMJ-TV

    Bing Maps

    An eyewitness, Jenny Remshak, told WTMJ that she was parked nearby when she saw a woman "crawling out of the building, and she rolled over to the cops, and they picked her up and took her right away in the ambulance."

    A few minutes later, "about 10 people come running out of the building, screaming," Remshak said.

    "Everybody was just grabbing their hearts and covering their mouths and watching in fear," she said.

    It was the second mass shooting in the Milwaukee area in just 2? months. A gunman opened fire at a Sikh temple near Milwaukee on Aug. 5, killing six people and wounding at least three others, before being shot to death.

    Three people were killed and a fourth was injured last week when a gunman stormed a hair salon in Casselberry, Fla. The gunman then killed himself.

    More content from NBCNews.com:

    Follow US news from NBCNews.com on Twitter and Facebook

    Source: http://usnews.nbcnews.com/_news/2012/10/21/14596819-report-multiple-people-shot-near-milwaukee-area-mall?lite

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    BBC editor steps aside over Savile scandal

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    Source: http://news.yahoo.com/bbc-editor-steps-aside-over-savile-scandal-110015621.html

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