Best Buy's Balance Sheet: How Do You Calculate The Hidden Losses That Investors Can't See?

By Seeking Beta To Your Alpha:On Friday, June 22, 2012, the Minneapolis/St. Paul Business Journal published a story titled "Best Buy's (BBY) Workers Worry, Wait and Join LinkedIn." In a nutshell, it explained how "more than 1,800 Best Buy workers have joined LinkedIn in the last three months - more than the number of new LinkedIn members from several other big employers combined."This article analyzes the impact that Best Buy's current workforce attrition will likely have on the struggling retailer's future and contrasts Best Buy's situation with that of Costco's (COST). This analysis may help explain why the numbers on Best Buy's balance sheet may not accurately reflect how poorly the company may fare in the near future. It may also help to explain why Costco's balance sheet does not accurately reflect the strength of that company.Michael Milken (yes - the bond trader who plead guilty to fraud, but a brilliant bond traderComplete Story »