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Geek Squad clones worry Best Buy analyst

Posted Aug 12 2008, 01:36 PM by Kim Peterson
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I've argued that Best Buy should spin off Geek Squad, its service that installs and repairs TVs, computers and other devices. It's not getting any easier to set up components, and an independent Geek Squad could partner with other retailers and turn this service thing into a real industry.

Too late. Wal-Mart is working with Dell on a similar service, and Target has a clone up and running as well. That's enough for Citigroup analyst Kate McShane to slap a "hold" rating on Best Buy. Geek Squad was a competitive advantage for Best Buy, she writes, but now its share is threatened.

She has set a $47 target on the stock. Best Buy shares are up nearly 2% today to $45.21.

Related reading:

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Comments

 

geek squad is a total waste as they charge WAY TOO MUCH for the services they

provide.always trying to up sell you things you don't need or want.it is called common sense.figure it out and do it yourself.

lar bear (Posted 08.12.08 9:03 PM) Report Abuse

PLEASE give me another option---After 2 encounters (a computer under warrenty that took 3 months of confusion and a buy from the floor experience where they couldn't even get their "store" program off of it to work for a consumer, BTW the GEEKS finally gave up on after 36 days and um, let me have a refund after a "discussion")    I won't pay 1 dime for any geek.   What a sham of a service.   OMG!!!!   Where is Curcuit City when you need them?

GEEKS are GEEKS

W Bostian (Posted 08.12.08 9:37 PM) Report Abuse

Geek Squad is a rip-off, took them 3 weeks to repair my computer and when I got it back all my programs were deleted including my virus protection software.

angry1 (Posted 08.12.08 10:28 PM) Report Abuse

i like best buys the only place to get  your equipment  taken care of right

oneaew@msn.com (Posted 08.12.08 11:03 PM) Report Abuse

People!   There is an almost new, (14 Feb 08), IPO for a geek; Geeks on Call, symbol " GOCH"  on the NASDAQ!  Thanks!

G Lancaster (Posted 08.13.08 12:35 AM) Report Abuse

My nephew started a No Geek repair business and in no time he had more work than he could handle by himself, why??? Because people are tired of paying big bucks for substander work. The geeks are under trained and can't repair anything more than a simple program install or removal and at $75 for a service call it's easy to see why someone who's well trained and keeps themselves up to date with the quickly changing field of computer can run a geek sqad out of town.

tish (Posted 08.13.08 1:05 AM) Report Abuse

I think geek squad is awful ... just from my home I can provide better service frome my internet Radio BIz  www.oliverobroadcastinggroup.info   on fixing and repairing a computer... and cheaper.

ollie@oliverobrodcastinggroup.info (Posted 08.13.08 1:09 AM) Report Abuse

Go to a local Computer repiar shop. You will get it fixed within a few days, one week at the most. The owner of the shop i go to says he gets former Geek Squad customers all the time, has to "fix" what they messed up in the first place.

Derek (Posted 08.13.08 1:38 AM) Report Abuse

Best Buy and Geeks are a major RIP OFF. Best Buy has this restocking fee of 15% if you are returning any item working or not.  You are hit with a 15% restocking fee of the purchase price.  And the Geeks are backing the bullshit the salesmanagers tell them.  I returned two Lap Tops - both seemed returned and put back on the shelf.  Neither working properly, the Geeks in both instances could not find anything wrong with either computer.

I had Toshba tell me to completely reload the Lap Top just purchased to Manufacturing Settings.  But the Geeks could not find manything wrong with it.

Best Buy charged me 15% - I would never go back to that outfit again.  Looks to me like the managers are making some extra money by taking defective returns and putting them back on the shelf for resale.  If you are one of the unlucky buyers getting a return item.  You will get hit with the restocking fee, and I just know the Geeks are in on the deal.  They must be. RIP OFF ARTIST

Axel Ahlers (Posted 08.13.08 1:49 AM) Report Abuse

Geek Squad was originally a stand-alone organization, with an excellent reputation.  Then Best Buy bought them out . . .  

Ray (Posted 08.13.08 1:50 AM) Report Abuse

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