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Best Buy postpones investors meeting in New York

Posted by: under Best Buy, Retail Updated: October 31, 2012 - 11:11 AM

Best Buy has canceled its investors meeting in New York on Thursday.

The Richfield-based consumer electronics giant had hoped CEO Hubert Joly could outline his strategy to Wall Street before founder Richard Schulze makes an expected $8 billion to $10 billion bid to purchase the company.

Hurricane Sandy has pretty much interrupted those plans: Lower Manhattan, including Wall street, is still pumping out water. The stock exchanges were closed Monday and Tuesday, which might be a good thing for Best Buy since its stock has free falled of late.

Best Buy still hopes to host the meeting. My guess is next week, since the deadline for Schulze's bid comes around Nov. 15.

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