Best Buy (NYSE: BBY) is a company on the ropes. It is bringing in a new CEO, Hubert Joly, after rejecting the buyout offer from founder Richard Schulze, and the markets reacted to the news with a thud. Joly has a bit of turnaround experience, but in an unrelated industry. The decision to remain public will be a hindering factor for Best Buy in the short term. In order to have a shot at being a truly viable bricks-and-mortar retailer, it needs to go private so it can make the necessary and dramatic store count reductions and strategic realignment.

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