The Maytag Corporation is an American home and commercial appliance company. The company has been owned by Whirlpool Corporation since April 2006.
106-594: Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota . Originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music, it was rebranded under its current name with an emphasis on consumer electronics in 1983. Best Buy operates internationally in Canada, and formerly operated in China until February 2011 (when
212-593: A Minnetonka, Minnesota -based retailer that sold home-entertainment products under the Sam Goody, Suncoast Motion Picture Company, Media Play, and OnCue brands. Best Buy purchased the company for $ 425 million in cash and the assumption of $ 271 million of Musicland debt. Later that year, Best Buy acquired the British Columbia , Canada-based electronics-chain Future Shop Ltd. , marking its entrance to
318-658: A Seattle -based broadband VOIP , data, and IT services provider. The acquisition was worth $ 80 million, and under terms of the deal, Speakeasy began operating as a wholly owned subsidiary of Best Buy. The company's products also became part of Best Buy's For Business program. Best Buy also expanded its Geek Squad market tests in March, opening Geek Squad precincts in FedEx Kinkos stores located in Indianapolis and Charlotte, North Carolina . In October 2007, Best Buy became
424-443: A city manager . This is still Richfield's form of government. The first mayor was Clarence Christian, who began serving in 1951, but served as president under the old format dating back to 1948. By the late 1940s, the city's population started increasing rapidly as farmland was sold to developers building homes for veterans returning from World War II . The Richfield Chamber of Commerce was formed in 1955 and has been deeply involved in
530-578: A nature preserve . Wood Lake Nature Center is a 150-acre (0.6 km ) park operated by the city that features wetlands , walking paths and an interpretive center. When the Nature Center opened in 1971, it was one of the nation's first urban nature centers. It is home to more than 200 different kinds of birds and 30 mammals. Richfield's Ice Arena has two full-size indoor skating rinks. Hockey games, figure skating , broom ball games, open skating, and community events all take place there. Near
636-505: A Best Buy-branded mobile retailer. Best Buy Mobile standalone stores were opened in shopping malls and urban downtowns. These Best Buy Mobile outlets were also added in all Best Buy-branded stores. In June 2009, Brian J. Dunn became Best Buy CEO. Dunn replaced Brad Anderson, who was retiring. Dunn had joined Best Buy in 1985 as a sales associate. In 2000, Dunn became senior vice president of East Coast operations and president of North American retail operations in 2004. His most recent position
742-684: A Double Drawer dishwasher which today is manufactured in Findlay Ohio at the Whirlpool Plant, the only Maytag legacy product built in the Whirlpool Appliance line-up. The Jackson plant evolved into a streamlined manufacturing facility that could build thousands of dishwashers daily on multiple lines. This plant was the most efficient plant and was a hallmark for other facilities. Whirlpool closed this plant in 2009. In 1997, Maytag Corporation purchased G.S. Blodgett Corporation,
848-546: A bid to acquire U.S. appliance maker Maytag for $ 1.28 billion. The bid failed and Maytag was bought by Whirlpool for $ 1.7 billion. On April 1, 2006, Whirlpool completed its acquisition of Maytag Corporation. In May 2006, Whirlpool announced plans to close the former Maytag headquarters office in Newton, as well as laundry product manufacturing plants in Newton, Iowa ; Herrin, Illinois ; and Searcy, Arkansas by 2007. Following
954-463: A centralized service desk and implementing a "store-within-a-store" concept for Pacific Kitchen & Bath and Magnolia Design Center. In April 2012, Brian Dunn resigned as Best Buy's CEO during an internal company investigation into allegations of personal misconduct stemming from an inappropriate relationship with a female Best Buy employee. Best Buy named Director George L. Mikan III interim CEO following Dunn's resignation. The internal investigation
1060-554: A class-action lawsuit filed against them in April 2010 by consumers who claimed Best Buy was making unsolicited phone calls in contravention of the Telephone Consumer Protection Act . In the second quarter of 2007, Connecticut Attorney General Richard Blumenthal ordered an investigation into the company's use of an in-store website alleged to have misled customers on item sales prices. In December 2007,
1166-541: A deal with Sun Capital Partners under which Sun Capital received all of Musicland's stock and debt. Best Buy launched its "Reward Zone" loyalty program in July following an 8-month test of the program in San Diego, California . Also in 2003, Best Buy's corporate offices were consolidated into a single campus in Richfield, Minnesota . In January 2004, Best Buy hired Virtucom Group to revamp Best Buy's website and handle all of
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#17327722598701272-583: A division of Whirlpool Corporation, had 14 manufacturing plants throughout the United States and Mexico. These included: Over the following years, Whirlpool closed Maytag plants in Newton, Iowa; Herrin, Illinois; Searcy, Arkansas; and Jackson, Tennessee. The Hoover floor care plant in Canton, Ohio was sold to Techtronic Industries , and its Dixie-Narco vending machine plant in Williston, South Carolina
1378-578: A dual language school that teaches students in both English and Spanish. Students in grades 6-8 attend Richfield Middle School. Richfield High School serves approximately 1400 students in grades 9–12. The South Education Center is in the 7400 block of South Penn Avenue. It serves pre-K through "Transition" age. In addition to Richfield Public Schools, public charter schools also serve residents, including Seven Hills Preparatory Academy and Watershed High School . Richfield has more than 450 acres (1.8 km ) of parkland , 23 neighborhood parks, and
1484-655: A high-volume, low-price business model, which was borrowed partially from Schulze's successful Tornado Sale in 1981. In its first year, the Burnsville store out-performed all other Best Buy stores combined. Best Buy was taken public in 1985, and two years later it debuted on the New York Stock Exchange . In 1988, Best Buy was in a price and location war with Detroit -based appliance chain Highland Superstores , and Schulze attempted to sell
1590-563: A hospitality conglomerate, since 2008. He led initiatives such as price matching, speeding up delivery times for online purchases, establishing " store within a store " sections for major brands such as Apple , Google , Microsoft , and Samsung , and giving more product training to employees. In April 2013, Best Buy exited the European consumer electronics market when it sold its 50% stake in The Carphone Warehouse back to
1696-663: A majority interest in Chinese appliance retailer Jiangsu Five Star Appliance for $ 180 million. At the time of the deal, Jiangsu was the fourth-largest appliance chain in China with 193 stores across eight Chinese provinces. In June, the company opened Geek Squad precincts at Office Depot in Orlando, Florida . The market test was later expanded to Denver . In January 2007, the first Best Buy-branded store in China officially opened in Shanghai. In March 2007, Best Buy acquired Speakeasy,
1802-660: A maker of commercial ovens. At the time of this purchase Maytag was looking at the Turbo Chef line they had been working on up to this point. Prior to 1997, the Maytag engineering team, at Maytag Laundry Appliances Research and Development, developed the Maytag Neptune line of front-load washers. A matching dryer was introduced to accompany the new washer. The company claimed that the new Neptune model saved energy costs over traditional washer/dryer sets. Production of
1908-510: A male householder with no wife present, and 43.2% were non-families. 34.3% of all households were made up of individuals, and 12.9% had someone living alone who was 65 years of age or older. The average household size was 2.35 and the average family size was 3.05. The median age in the city was 36.2 years. 21.3% of residents were under the age of 18; 8.5% were between the ages of 18 and 24; 31.4% were from 25 to 44; 24.7% were from 45 to 64; and 14.2% were 65 years of age or older. The gender makeup of
2014-565: A move which nearly doubled its size, the company acquired a new corporate name, Maytag Corporation. In 1988, Maytag acquired Chicago Pacific Corporation , which was formed using the remnants of the bankrupt Chicago, Rock Island & Pacific Railroad . Chicago Pacific Corporation owned Hoover US and Hoover UK as well as Thomasville Brand Furniture . Maytag quickly sold off the Thomasville Furniture brand. Maytag Corporation, led by Chairman Daniel Krumm, next planned to make Maytag
2120-499: A new plant in Jackson, Tennessee, for the manufacture of newly designed plastic tub dishwashers. The Plastic tub was developed in Newton, Iowa, but in 1996 Engineering was transferred to Jackson because Mr. Len Hadley, then president of Maytag Corporation, wanted the plant to be self-sufficient. This engineering team engineered a Stainless Steel dishwasher, Tall-Tub Plastic and Tall-Tub Stainless steel product. Engineering crescendoed with
2226-429: A plan to stimulate consumer purchases of new Maytag appliances before their old ones had worn out. Costs incurred in Maytag's acquisition and integration of Amana and an increased corporate debt load led to aggressive internal cost-cutting efforts in direct materials, manufacturing, and distribution costs. Maytag introduced a value-priced appliance line under a separate label, Performa by Maytag . To increase sales,
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#17327722598702332-696: A position he had held since 1991. In September of that year, Best Buy opened the first Canadian Best Buy-branded store in Mississauga, Ontario . In October, Best Buy acquired Minneapolis-based Geek Squad, then a 24-hour residential computer repair business with offices in Minneapolis, Chicago , Los Angeles , and San Francisco . Best Buy stores in the U.S. surpassed the 600-store mark and the company opened its first global-sourcing office in Shanghai in 2003. In June, Best Buy divested itself of Musicland in
2438-411: A small, premium-brand manufacturer. The company capitalized on its reputation by renaming its corporate address in Newton, Iowa, "One Dependability Square". By 1960, Maytag had ceased marketing ovens and refrigerators, but later started again to expand into kitchen appliances with its own design of portable kitchen dishwasher and a line of food-waste disposers . Upon the death in 1962 of Fred Maytag II,
2544-655: A stock room, had fewer salespersons and provided more self-help product information for its customers. Best Buy also did away with commissioned salespeople. The commission-free sales environment "created a more relaxed shopping environment free of the high-pressure sales tactics used in other stores," but was unpopular with salespersons and suppliers. Upset that their products would no longer be pushed by salespeople, some suppliers such as Maytag , Whirlpool , and Sony stopped selling in Best Buy stores altogether. The suppliers returned after Best Buy's sales and revenue grew following
2650-413: A symbol of misplaced trust in aging marketing campaigns. As one commentator noted, "Unfortunately things change, and, after some major quality hiccups, now it's the Maytag salesman who is bemoaning his loneliness. Maytag's reputation has plunged to the bottom with costly consumer class action lawsuits and numerous quality complaints." As a partial result of Maytag's quality problems, the company reported
2756-465: A wholly owned subsidiary of Best Buy in 2009. In December 2011, Best Buy purchased mindSHIFT Technologies, a company that provided IT support for small and medium-sized businesses, for $ 167 million. In 2012, in response to overall revenue decline, Best Buy announced plans to undergo a "transformation strategy". Stores began to adopt a redesigned "Connected Store" format, providing the Geek Squad with
2862-447: A worldwide organization. The UK part of Hoover was to help Maytag expand into Europe. Hoover UK was not doing well financially and offered customers a round-trip ticket anywhere if they purchased a vacuum. This campaign cost the corporation $ 50 million to settle. Subsequently, Maytag sold off Hoover UK. This was a huge setback for the amount of cash Maytag had in hand and thus started the downward spiral financially. In 1991 Maytag built
2968-484: Is in Minnesota's 5th congressional district , represented by Ilhan Omar . Maytag The Maytag Washing Machine Company was founded in 1893 by businessman Frederick Maytag . In 1925, Maytag Washing Machine Company became Maytag, Inc. Frederick's son Elmer Henry Maytag took over as president of the company from 1926 until his own death in 1940. In the early 1930s, photographer Theodor Horydczak took pictures of
3074-438: Is land and 0.14 square miles (0.36 km ) is water. Interstates 35W and 494 and Minnesota State Highways 62 and 77 are four of the main routes in the city. Other main routes include 66th Street. The majority of the 10,000 single-family homes were constructed in the 1950s, and the 5,000 apartments date from the 1960s and early 1970s. The Richfield Rediscovered Housing Program has established an environment of change in
3180-402: Is testimony to the durability and reliability of Maytag appliances. Now if only he had something to do with his days.” Other ads stated, "Not all Maytag repairmen are this lonely, but we're trying." The campaign proved a huge success, allowing Maytag to set a substantial price premium, as well as strongly influencing consumer preference at the higher end of the laundry appliance market. In 1986,
3286-537: The Los Angeles Times reported on the same issue, in which some customers claimed they thought they were surfing the Internet version of bestbuy.com at an in-store kiosk only to learn that the site reflected in-store prices only. In response, company spokesperson Sue Busch indicated the in-store kiosks were not intended for price-match purposes and rather were a means to navigate in-store availability. Since
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3392-456: The HD DVD format, a move which ultimately contributed to Toshiba's decision to drop HD DVD. In May, the company agreed to buy 50% of the retail division of The Carphone Warehouse, a London, England -based mobile phone retailer. The deal was worth $ 2.1 billion. In July 2008, Best Buy announced that it would start selling musical instruments and related gear in over 80 of its retail stores, making
3498-561: The Neptune line was later switched to Samsung Electronics . In 2001, the company acquired the Amana Corporation and its appliance assembly facilities. That same year, Ralph F. Hake became the last chairman and chief executive officer (CEO) of Maytag Corporation, serving in that post until March 2006. Once renowned as the standard for laundry appliances, by 2003 the company faced increasing competition from new appliance brands in
3604-529: The Roseville location, at the time the largest and most profitable Sound of Music store, was hit by a tornado. The store's roof was sheared off and showroom destroyed, but the storeroom was left intact. In response, Schulze decided to have a "Tornado Sale" of damaged and excess stock in the damaged store's parking lot. He poured the remainder of his marketing budget into advertising the sale, promising "best buys" on everything. Sound of Music made more money during
3710-530: The Stinkomatic by dissatisfied customers because they would become moldy in a way that could not be easily cleaned), resulting in further damage to the company's reputation and a $ 33.5 million payout to settle several class-action lawsuits arising from the Neptune problems. By 2005, Maytag's market share had declined to all-time lows, sales were flat, and customer satisfaction surveys ranked Maytag near
3816-597: The Territory of Minnesota as the 32nd state to join the union. That day, local citizens met in a schoolhouse at present-day 53rd and Lyndale to form a municipal government. At that meeting, those who previously said they lived in Harmony or Richland Mills chose the name Richfield for their community. Settlers from Maine made up 35% of U.S.-born adults 18 or older in 1860 Richfield. New York immigrants were 21%. Immigrants from Ireland , numbering 58, represented half of
3922-589: The 119 adults from other nations. Just three of Richfield's citizens had been born in Minnesota. Richfield's fields proved bountiful for the settlers. Early crops included corn, wheat and oats. Wheat immediately became the cash crop, sold in the area's first major market, St. Paul . Those in southern Hennepin County found it more profitable to haul their wheat crop to St. Paul than to the St. Anthony Falls district. This
4028-775: The 2018 Fortune 500 list of the largest United States corporations by total revenue. On August 22, 1966, Richard M. Schulze and a business partner opened Sound of Music, an electronics store specializing in high fidelity stereos in St. Paul, Minnesota . Schulze financed the opening of his first store with his personal savings and a second mortgage he took out on his family's home. In 1967, Sound of Music acquired Kencraft Hi-Fi Company and Bergo Company. Sound of Music earned $ 1 million in revenue and made about $ 58,000 in profits in its first year. In 1969, Sound of Music had three stores and Schulze bought out his business partner. Sound of Music operated nine stores throughout Minnesota by 1978. In 1981,
4134-728: The Canadian franchises of RadioShack , which were later acquired by Circuit City and, in turn, Bell)—which primarily operates in malls and smaller markets—would be rebranded as Best Buy Express. The stores will receive inventory from Best Buy and integrate with its e-commerce operations, but will continue to otherwise be owned and operated by BCE under license , and exclusively offer wireless services from Bell Canada and its subsidiaries. The first location opened in Surrey, British Columbia in June 2024; 167 of The Source's locations will be renovated to
4240-444: The European market in April 2013, selling its stake in the business back to its partner Carphone Warehouse . Best Buy also produces products under eight house brands : In 2000, two Florida consumers brought a lawsuit against the company, alleging that it engaged in fraudulent business practices related to the sale of extended warranties (or, more accurately, service plans ). The suit claimed that store employees had misrepresented
4346-627: The Fort Snelling military reservation, which included Camp Coldwater . One of the first settlers to the area was Riley Bartholomew , a former general in the Ohio Militia. He later became a Richfield justice of the peace and a Minnesota state senator . Bartholomew built a house on Wood Lake's eastern shore in 1852, and the restored Riley Lucas Bartholomew House is listed on the National Register of Historic Places . Today,
Best Buy - Misplaced Pages Continue
4452-590: The Maytag headquarters closure, all brand administration was transferred to Whirlpool's headquarters in Benton Harbor, Michigan . The Maytag name would now be used on Whirlpool-designed appliances. Most Maytag employees were terminated, but some were offered jobs at Whirlpool. The board of directors of Maytag all received five years' severance pay. Former Maytag chairman and CEO, Ralph F. Hake, received two years' base salary and two years' target bonus under his severance agreement. On January 1, 2009, Maytag (under
4558-541: The Maytag name. During the Korean War , the company again produced parts for military equipment, although washing-machine production continued. During the 1950s, the 'white goods,' or laundry and kitchen appliance industry, grew rapidly. Maytag first entered the commercial laundry field at this time, manufacturing washers and dryers for commercial self-service laundries and commercial operators. In response, other full-line appliance producers began to compete with Maytag in
4664-498: The North American market, offering a full line of washing machines , dryers , dishwashers , cooktops , refrigerators , and ranges under the Maytag, JennAir , Amana , and Magic Chef brands. Maytag also used to manufacture the top load laundry for Crosley until Maytag's merger with Whirlpool. Maytag sold multiple small appliances including a cordless iron under the Maytag brand, a mixer and blender under JennAir ,
4770-696: The Richfield Historical Society maintains the house and the site. The Harmony post office, south of the Richland Mill on Lyndale Avenue, opened in 1854. Postmaster James Dunsmoor named the mail center after his hometown in Maine. Richfield farmers looked on the metropolis to its north as their marketing target. They helped supply its restaurants, hotels, grocers and citizens with fresh produce, with enough left over to ship by railroad to other cities. On May 11, 1858, Congress approved
4876-553: The UK-based mobile phone retailer. The sale was worth around $ 775 million. An increasing trend towards online shopping began to erode revenues and profits in the 2010s. A 4% dip in sales for the June 30, 2014, quarter, marked the 10th quarter in a row where Best Buy's sales had declined. The company, in announcing the result, said it was focusing more on digital media in its marketing, moving away from newspaper, magazine, and television advertising. On March 28, 2015, Best Buy announced
4982-525: The US market, as well as from existing appliance manufacturers who had outsourced production a decade earlier in order to reduce costs. While Maytag had begun the process of shifting appliance production to lower-cost assembly plants outside the United States, in 2004, the company was still producing eighty-eight percent of its products in older U.S.-based factories. In an apparent move away from traditional company marketing strategy, company management decided on
5088-551: The United Kingdom, all of which were closed in early 2012. In November 2011, Best Buy purchased The Carphone Warehouse's share of Best Buy Mobile for $ 1.3 billion. Best Buy and The Carphone Warehouse maintained their Best Buy Europe joint venture, which at the time operated 2,500 mobile phone stores throughout Europe. The company closed all of its Best Buy-branded stores in China by February 2011, when it merged Best Buy China's operations with Jiangsu Five Star, which had become
5194-451: The United States. In Canada, carriers include Bell Mobility , Rogers Wireless , Telus Mobility , their fighter brands , and competing smaller carriers, such as SaskTel . Hubert Joly is executive chairman of Best Buy, having been succeeded as CEO by Corie Barry in June 2019. According to Yahoo! Finance , Best Buy is the largest specialty retailer in the United States consumer electronics retail industry. The company ranked number 72 in
5300-780: The administrative support for the international sales organization. This network extended to more than 70 countries worldwide. Maytag International was responsible for export sales and licensing of the corporation's appliances and floor care brands and joint ventures in overseas markets. This network extends to more than 90 countries worldwide. The main office is located in Chicago with major subsidiary offices in Burlington, Ontario (Canada), Monterrey (Mexico), Sydney (Australia), and London (England) and region sales offices in Beirut (Lebanon) and Yokohama (Japan). As of 2008, Maytag, by this time
5406-459: The area in 1837 and worked as a sutler, selling goods to soldiers. Fort Snelling's garrison made up the bulk of the area's population, along with Henry Sibley and Alexander Faribault's 75-person American Fur Company operation. Other small settlements of traders, farmers, missionaries and refugees began to develop outside the fort, some with permission, some without. These residents built communities on land that became known as Richfield. Richfield
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#17327722598705512-539: The bottom of the appliance field. The problems with the Neptune line continued; in 2007, 250,000 Neptune washing machines became part of a nationwide safety recall by the Consumer Product Safety Commission due to fire danger. In 2005, Haier sought to expand its share of foreign markets by acquiring rival white-goods OEMs and by expanding overseas production capacity. With backing from two large U.S. private equity funds, Haier made
5618-461: The city was $ 45,519, and the median income for a family was $ 56,434. Males had a median income of $ 38,417 versus $ 29,909 for females. The per capita income for the city was $ 24,709. About 3.9% of families and 6.3% of the population were below the poverty line , including 8.3% of those under age 18 and 3.8% of those age 65 or over. Richfield's mayor is Mary Supple, a retired Richfield Public School teacher. Former Richfield Mayor Maria Regan Gonzalez
5724-564: The city was 49.2% male and 50.8% female. As of the census of 2000, there were 34,439 people, 15,073 households, and 8,727 families living in the city. The population density was 4,993.9 inhabitants per square mile (1,928.2/km ). There were 15,357 housing units at an average density of 2,226.9 per square mile (859.8/km ). The racial makeup of the city was 81.25% White , 6.65% African American , 0.72% Native American , 5.30% Asian , 0.04% Pacific Islander , 3.41% from other races , and 2.64% from two or more races. Hispanic or Latino of any race
5830-448: The city was 69.8% White , 9.2% African American , 0.8% Native American , 6.1% Asian , 0.1% Pacific Islander , 10.4% from other races , and 3.5% from two or more races. Hispanic or Latino of any race were 18.3% of the population. There were 14,818 households, of which 26.7% had children under the age of 18 living with them, 41.2% were married couples living together, 10.8% had a female householder with no husband present, 4.9% had
5936-399: The community as it encourages home remodeling, expansion, and reconstruction. The program is gradually changing the face of Richfield's residential neighborhoods, upgrading them from small, post-WWII styles to larger homes. Best Buy Company, Inc. moved its corporate headquarters to Richfield in 2003, becoming its largest employer. Public subsidies of almost $ 60 million were spent to attract
6042-612: The community's development and redevelopment. Over the years, populations of all nearby communities increased and after World War II , Richfield flourished with commuters to Twin Cities jobs. As of 2019, Richfield has a population of about 35,000, who live within seven square miles of neighborhoods, parks, and shops. According to the United States Census Bureau , the city has an area of 7.01 square miles (18.16 km ), of which 6.87 square miles (17.79 km )
6148-493: The company also marketed Maytag-branded 'Legacy Series' washing machines that were otherwise identical to low-end Amana models, and built at the formerly Amana assembly plant in Searcy, Arkansas. The rebranded Maytag models, later termed Amanatags by dissatisfied owners, received poor customer reviews after reports surfaced of major mechanical and/or durability problems. The company also consolidated warehouse operations and cut
6254-598: The company also sold the popular Skybox and Rookie home-vending products. In floor care, Maytag owned the Hoover brand, the market leader in North America and the floor-care brand with the highest consumer recognition and buying preference. In commercial products, Maytag owned Dixie-Narco , a leader in refrigerated soft drink and specialty vending machines as well as Jade cooking products and Amana commercial cooking products. Maytag had presence in markets around
6360-500: The company cut its forecast for the remainder of 2022. On October 13, 2023, Best Buy announced that it would phase out the sale of home video on physical media in early 2024, citing changes in the market due to the prevalence of streaming video on demand services. On January 18, 2024, BCE Inc. announced an agreement with Best Buy's Canadian division, under which selected locations of its competing chain The Source (originally
6466-512: The company the second-largest musical-instrument distributor in the US. Best Buy became the first third-party retail seller of Apple's iPhone in September. Later that month, the company agreed to acquire Napster for $ 121 million. In December, Best Buy opened its first store in Mexico. In February 2009, Best Buy leveraged its partnership with The Carphone Warehouse to launch Best Buy Mobile,
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#17327722598706572-402: The company to Circuit City for US$ 30 million. Circuit City rejected the offer, claiming they could open a store in Minneapolis and "blow them away." In 1988, the company introduced a new store concept dubbed "Concept II". Concept II replaced dimly lit industrial-style stores with brighter and more fashionably fixtured stores. Stores also began placing all stock on the sales floor rather than in
6678-581: The company's online content. In May, the company launched its "customer centricity" program, which segmented its stores according to customer profiles. The program also called for employees to focus on specific customer groups rather than product categories. In October, Best Buy completed rolling out Geek Squad "precincts" in every American Best Buy store. In April 2005, Best Buy began eliminating mail-in rebates in response to negative customer reaction against them, and instead started giving out instant rebates via notebook computers. In May 2006, Best Buy acquired
6784-423: The company's revenue. On May 9, 2018, the company unveiled a new logo for the first time in nearly three decades. On July 2, 2018, Best Buy announced it was cutting the amount of store space devoted to selling physical music, citing the popularity of streaming services as having reduced sales. On April 15, 2019, Best Buy announced that in June 2019, its current CFO, Corie Barry, would replace Hubert Joly who held
6890-406: The corporate campus including spending $ 48 million to purchase and demolish over 100 homes and 3 car dealerships within the city just north of I-494. Tax increment financing was used to fund other infrastructure. The use of eminent domain for a private business was controversial and resulted in lawsuits. From the first quarter of 2001 to the first quarter of 2003, net job growth equaled 2,444 –
6996-401: The effectiveness of the long-lived Maytag-repairman campaign. Consumer demand for innovative, expensive, and increasingly complex electronically controlled and computerized appliances, coupled with higher labor costs and complaints over Maytag product quality and service, influenced a decline in Maytag sales and profit margins. By 2004, the Maytag repairman character had become to some consumers
7102-561: The entrance designed to look like a blue box emerging from the structure. Corporate employees operated under a results only work environment from 2005 until March 2013, when the management style was abandoned by Best Buy CEO Hubert Joly. As of October 29, 2016, Best Buy operated 1,026 Best Buy, 331 Best Buy Mobile stand-alone stores, and 28 stand-alone Pacific Sales stores in the US. Best Buy also operated: 135 Best Buy and 53 Best Buy Mobile stand-alone stores in Canada; and 18 Best Buy stores and 5 Best Buy Express stores in Mexico. Best Buy exited
7208-717: The faction was merged with Five Star) and in Mexico until December 2020 (due to the effects of the COVID-19 pandemic). The company also operated in Europe until 2012. Its subsidiaries include Geek Squad , Magnolia Audio Video, and Pacific Sales . Best Buy also operates the Best Buy Mobile and Insignia brands in North America, plus Five Star in China. Best Buy sells cellular phones from Verizon Wireless , AT&T Mobility , T-Mobile , Boost Mobile and Ting Mobile in
7314-628: The first consumer-electronics retailer to exit the analog television market, carrying only digital products that became mandatory in June 2009 by the FCC . In February 2008, Best Buy opened its first store in San Juan, Puerto Rico . Best Buy's Geek Squad market tests in Office Depot and FedEx Kinkos stores ended by March. Also in March, the company began promoting the Blu-ray optical-disc format over
7420-751: The format by the end of 2024, with the remaining locations being closed. Best Buy sells consumer electronics and a variety of related merchandise, including software, video games, music, mobile phones, digital cameras, car stereos, and video cameras, in addition to home appliances (washing machines, dryers, and refrigerators), in a noncommissioned sales environment. Under the Geek Squad brand, Best Buy offers computer repair, warranty service, and accidental service plans. Best Buy provides an online community forum for members, where consumers can discuss product experiences, ask questions, and get answers from other members or retail product experts. The building exteriors of Best Buy-branded stores are typically light brown, with
7526-400: The founder, took over the presidency. During World War II , the company participated in war production by making special components for military equipment. In 1946, production of washing machines was resumed; in 1949, the first automatic washers were produced in a new, dedicated factory. In 1946, Maytag began marketing a separate line of ranges and refrigerators made by other companies under
7632-509: The four-day sale than it did in a typical month. In 1983, with seven stores and $ 10 million in annual sales, Sound of Music was renamed Best Buy Company, Inc. The company also expanded its product offerings to include home appliances and VCRs , in an attempt to expand beyond its then-core customer base of 15- to 18-year-old males. Later that year, Best Buy opened its first superstore in Burnsville, Minnesota . The Burnsville location featured
7738-503: The ice arena is Richfield's outdoor pool. Renovated in 2003, it features a 50-meter competitive pool, wading pool, and a 28-foot (9 m) double waterslide. 2017-2019 brought a major overhaul of 66th street to improve the look of the city and increase recreation opportunities, with new, dedicated bike and walking lanes for pedestrians. Note: the US Census treats Hispanic/Latino as an ethnic category. This table excludes Latinos from
7844-486: The initial investigation, a banner was placed on the in-store site to make its customers more aware of the difference. Richfield, Minnesota Richfield is a city in Hennepin County , Minnesota . An inner-ring suburb of Minneapolis, Richfield is bordered by Minneapolis to the north, Minneapolis–Saint Paul International Airport and Fort Snelling to the east, Bloomington to the south, and Edina to
7950-476: The international marketplace. Under the deal, Future Shop was purchased for about US$ 377 million and continued to operate as subsidiary independent from Best Buy Canada. Brad Anderson succeeded Richard Schulze as Best Buy CEO in July 2002. Anderson had begun working at Best Buy in 1973 while attending seminary school. He was promoted to vice president in 1981 and executive vice president in 1986. Anderson had most recently served as president and COO of Best Buy,
8056-452: The last family member involved in the company's management, E. G. Higdon was named president of the company, with George M. Umbreit becoming chairman and CEO. By the late 1970s, over 70 percent of U.S. households were equipped with washers and dryers, and with approximately 18,000 employees worldwide, the company was established as a dominant manufacturer of large laundry appliances. After the company's acquisition of Magic Chef , Inc., in 1986,
8162-404: The last half of the 20th century and additions of land to the Fort Snelling compound meant further reductions. In 1908, Richfield became a village . From 1908 until 1950, Richfield's local government consisted of a president , three trustees , and a city clerk . On November 7, 1950, residents voted for a city-manager form of government, meaning the city had a mayor , four council members, and
8268-491: The manufacturer's warranty to sell its own Product Service/Replacement Plan and that Best Buy had "entered into a corporate-wide scheme to institute high-pressure sales techniques involving the extended warranties" and that the company used "artificial barriers to discourage consumers who purchased the 'complete extended warranties' from making legitimate claims." The company ultimately settled for $ 200,000, but admitted no wrongdoing. In 2014, Best Buy settled for $ 4.55 million in
8374-559: The north, to what is now Highway 169 on the west, to Bloomington on the south, and to Fort Snelling and the Minnesota and Mississippi rivers on the east. Parts of Richfield were later lost to neighboring towns or villages through annexation. An 1886 partition of Richfield created the village of St. Louis Park, and a division in 1889 produced the village of Edina. Minneapolis absorbed sizeable portions of Richfield through legislative action or annexations in 1867, 1883, 1887 and 1927. The growth of Minneapolis-Saint Paul International Airport during
8480-459: The number of Maytag vendors. Between 2002 and 2004, Maytag corporate management cut new-product investment by 50%. An increasing chorus of consumer complaints concerning product reliability and customer service, assisted by the rapid growth of internet consumer forums, began to affect the company's reputation with customers. The company was also slow to react to customer complaints regarding its flagship Neptune washer and dryer line (labeled
8586-591: The ownership of the Whirlpool Corp. ) changed the vested lifetime benefits of the Maytag retirees. There is a lawsuit pending in the Southern District Court of Iowa where Whirlpool has asked for permission to change the UAW bargained benefits. The benefits in question were subsequently changed despite any resolution of the lawsuit. In major appliances, Maytag was among the top three companies in
8692-527: The plant and some of its workers. During the Great Depression of the 1930s the company was one of the few to make a profit. In 1938, Maytag provoked strikes by the company's workers because of a 10% pay cut. The company was able to beat the strike because of the intervention of four military companies, including a machine gun company, of the 113th Cavalry Regiment, Iowa National Guard . At his father's death in 1940, Fred Maytag II , grandson of
8798-498: The position of CEO since August 2012. Joly subsequently became executive chairman of the company. Despite an increase in sales of computer equipment due to an increase in remote work during the COVID-19 pandemic , Best Buy laid off over 5,000 employees in early 2021 and forced many others into part-time positions. In August 2022, Best Buy said it would be laying off employees across the country after warnings of weaker sales, and
8904-410: The racial categories and assigns them to a separate category. Hispanics/Latinos can be of any race. As of the census of 2010, there were 35,228 people, 14,818 households, and 8,420 families living in the city. The population density was 5,127.8 inhabitants per square mile (1,979.9/km ). There were 15,735 housing units at an average density of 2,290.4 per square mile (884.3/km ). The racial makeup of
9010-444: The repairman was joined by Newton, a basset hound named for Maytag’s headquarters in Newton, Iowa. In 1989, character actor Gordon Jump first appeared as Ol' Lonely in the advertisement "Biker". In total, Jump appeared in more than 77 Maytag commercials and print advertisements. He made appearances at events for employees and customers and also was actively involved in several philanthropic and charitable causes. Actor Hardy Rawls
9116-810: The roll-out of Concept II. In 1992, the company achieved $ 1 billion in annual revenues. Its Midwest rival, Highland would file for bankruptcy in the same year and close all locations by 1993. In 1994, Best Buy debuted "Concept III" stores in several new markets including Los Angeles and Washington, D.C. Concept III stores were larger than previous stores and included expanded product offerings, "Answer Center" touchscreen kiosks that displayed product information for both customers and employees, and demonstration areas for products such as surround sound stereo systems and video games. Best Buy launched its "Concept IV" stores with its expansion into New England in 1998. Concept IV stores included an open layout with products organized by category, cash registers located throughout
9222-479: The second highest in the metropolitan area. Additionally, total employment in Richfield jumped from 10,090 to nearly 15,000 between 1995 and 2005. In 2007, Cedar Point Commons opened in Richfield at Cedar Avenue and 66th Street, adjacent to Minneapolis–Saint Paul International Airport. Target and The Home Depot serve as its anchor tenants. According to the city's 2014 Comprehensive Annual Financial Report,
9328-525: The shutdown of the Future Shop chain in Canada; 65 of its 131 former locations were converted into Best Buy locations, while the rest (primarily those in close proximity to an existing Best Buy) were closed permanently. On March 1, 2018, the company announced that it would shut down its 250 standalone Best Buy Mobile stores in the United States by the end of May, due to low revenue and high costs. The Best Buy Mobile stores were reported to account for 1% of
9434-666: The store, and slightly smaller stores than Concept III stores. The stores also had large areas for demonstrating home theater systems and computer software. In 1999, Best Buy was added to Standard & Poor's S&P 500 . In 2000, Best Buy formed Redline Entertainment, an independent music label and action-sports video distributor. The company acquired Magnolia Hi-Fi, Inc., an audio-video retailer located in California , Washington , and Oregon , in December 2000. In January 2001, Best Buy acquired Musicland Stores Corporation,
9540-650: The top employers in the city are: Richfield has public schools , private schools , alternative education programs, and post-secondary options. The local school district, Richfield Public Schools (officially Independent School District #280), serves about 4,200 students in Richfield and part of Edina in grades K-12. Richfield schools are divided into elementary schools , middle schools , and high schools . Four elementary schools serve primary students in grades K-5: Centennial Elementary; Sheridan Elementary; R-STEM Elementary, which focuses its curriculum on science, technology, engineering, and math; and RDLS Elementary,
9646-499: The west. The population was 36,994 at the 2020 census . Best Buy , the U.S.'s largest electronics retailer, is headquartered in Richfield. In the 1820s, some small settlements developed around Fort Snelling . By the late 1830s, the fortress served as a destination for newcomers—lumbermen, missionaries, farmers, traders and travelers—migrating to the borderlands people were now calling "Minisota". Minnesotan Franklin Steele reached
9752-453: The white-goods consumer market. These included 'full-line' manufacturers such as Whirlpool, General Electric, Westinghouse, and Frigidaire, who built not only washing machines and dryers, but also refrigerators, stoves, and other appliances. Since Maytag was much smaller than the full-line producers, the company decided to limit itself to the manufacture of washers and dryers, alongside marketing ovens and refrigerators built by other companies, as
9858-663: The world, including sales operations in Mexico , the United Kingdom , Japan , and Australia . The corporation's export sales and marketing, licensing of brands, and international joint ventures was coordinated by Maytag International in Schaumburg, Illinois . Today, in the Whirlpool lineup, Maytag is mostly positioned as a mid-tier brand, generally priced somewhat above Whirlpool but below KitchenAid . In 1988, DOMICOR
9964-407: Was 2.25 and the average family size was 2.89. In the city, the population was spread out, with 20.2% under the age of 18, 9.3% from 18 to 24, 33.4% from 25 to 44, 20.7% from 45 to 64, and 16.4% who were 65 years of age or older. The median age was 37 years. For every 100 females, there were 96.2 males. For every 100 females age 18 and over, there were 93.0 males. The median income for a household in
10070-410: Was 6.27% of the population. There were 15,073 households, out of which 24.4% had children under the age of 18 living with them, 43.4% were married couples living together, 10.5% had a female householder with no husband present, and 42.1% were non-families. 33.7% of all households were made up of individuals, and 12.0% had someone living alone who was 65 years of age or older. The average household size
10176-610: Was acquired by Crane Merchandising Systems . (Techtronic and Crane acquired the plants when they acquired the Hoover and Dixie-Narco brands, respectively). The remaining Maytag plants in operation today are in Cleveland, Tennessee and Amana, Iowa.* Ol' Lonely, or "the lonely repairman", is a character in Maytag advertisements, created for Maytag by copywriter Vincent R. Vassolo of the Leo Burnett advertising agency. His character
10282-416: Was among those who auditioned. On April 2, 2007, Maytag announced that Clay Earl Jackson of Richmond, Virginia had been selected to fill the role of Ol' Lonely. By the end of the twentieth century, the "Maytag repairman" character had become an iconic metaphor for a professional whose services are rarely needed. Times were changing however, and events at Maytag and within the industry began to diminish
10388-493: Was as president of Best Buy since 2006. In November 2009, Best Buy partnered with Roxio's CinemaNow to launch an on-demand streaming service which allowed streaming from any Internet device sold by Best Buy. In December 2009, Best Buy opened its first Turkish store in İzmir . In April 2010, Best Buy opened its first United Kingdom -based Best Buy-branded store in Thurrock . The company eventually opened 11 Best Buy stores in
10494-552: Was backed into an assigned space. Wholesale customers could then bring their teams to the platform and negotiate prices when the starting bell sounded. Today's boundaries differ markedly from those the Hennepin County Board of Commissioners set forth on April 10, 1858, when it established the towns of Richfield, Minneapolis, Bloomington and Eden Prairie . Richfield's boundaries included about 63 square miles. Richfield originally ranged to Minneapolis's Lake Street on
10600-580: Was before "King Wheat" and Minneapolis's evolution into a milling center. Minneapolis became a favorite trading point for market gardeners in 1897 with the building of the modern, covered Second Street Market just two blocks west of Hennepin Avenue and Bridge Square. The market featured a massive platform for gardeners, including Richfield's sizable contingent, to unload and display produce. The new system freed streets from traffic snarls by allowing each person to unhitch and put up their horses, while their wagon
10706-445: Was established as Maytag Corporation's international division and in 1992 became Maytag International, Inc. which eventually encompassed all of Maytag's worldwide ventures including Maytag Australia, Maytag Japan, Maytag Commercial (Mexico), and Maytag UK. Maytag International, was based in Schaumburg, Illinois , handled the sales, licensing and business ventures of corporate appliances and floorcare brands in overseas markets as well as
10812-581: Was hired to play Ol' Lonely after Jump's retirement in 2003, although he appeared only in print advertising and personal appearances. Gordon Jump died two months later on September 22, 2003. In French-speaking Quebec, Ol' Lonely was played by Paul Berval . For a period of time Maytag gave Ol' Lonely a younger sidekick character known as the "Maytag Apprentice", played by actor Mark Devine. However, in 2005 Maytag cancelled his contract. Maytag also elected not to renew Rawls' contract, instead holding open auditions. Indianapolis Colts backup quarterback Jim Sorgi
10918-401: Was initially played by Jesse White , who retained the role until 1988. In a time in which the laundry appliances of major manufacturers had reached maturity, differing mostly in minor details, the campaign was designed to remind consumers of the perceived added value in Maytag products derived from the brand's reputation for dependability. Maytag advertisements stated “Ol' Lonely’s predicament
11024-574: Was one of the earliest postwar suburbs in the Twin Cities to be populated by veterans returning from World War II , but its claim to be Minnesota's oldest suburb date to the land's connection to Fort Snelling in the 1820s. The term "suburb" is from the Latin suburbium , "the land outside a walled city". Much of the land that comprised the Township of Richfield and today's City of Richfield included
11130-467: Was released in May 2012 and alleged that Best Buy founder and chairman Richard Schulze knew of Dunn's inappropriate relationship and failed to notify the Best Buy board. Schulze subsequently resigned his chairmanship of the company. Best Buy Director Hatim Tyabji replaced Schulze as Best Buy chairman. In September 2012, Hubert Joly replaced Mikan as Best Buy CEO. Joly had previously served as CEO of Carlson ,
11236-516: Was the first Latina mayor in Minnesota history. Regan Gonzalez was a councilwoman in Ward 3 before being elected in 2018. Richfield has five city council members: Sharon Christensen (Council At-Large), Simon Trautmann (Council Ward One), Sean Hayford Oleary (Council Ward Two), Ben Whalen (Council Ward Three), and Supple. At the state level, Richfield is represented State Senator Melissa Halvorson Wiklund and State Representative Michael Howard. The city
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