Consumer Business Report: Schulze Makes Progress For Best Buy, US Automakers Have Prospects

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Best Buy Co. (NYSE:BBY) founder Ricahrd Schulze is seeing “significant progress” in his endeavors to put together an offer for the company that might pass inspection with backers, say sources. Since the advent of Chief Executive Hubert Joly, talks between Schulze’s representatives and current management at Best Buy have opened up.

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Additional worldwide sales in the fourth quarter could be in the futures of Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM), as rivals Toyota Motor Corporation (NYSE:TM) and Honda Motor Co. (NYSE:HMC) suffer from large recalls and staggering sales in China. The current territorial dispute between China and Japan over a few tiny islands could fuel the informal boycott of Japanese products for months, while the safety recalls for both companies damage their reputations for quality.

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