| Network Appliance execs cash in
In late August, Dan Warmenhoven, chief executive of Network Appliance, stuck his neck out by saying the current options backdating scandal was really much ado about nothing. It may have bucked the conventional wisdom, but after a decade at the helm of the company, he's had quite a bit of experience with stock options. And Network Appliance's recent history shows just how complex the relationship between valley companies and stock options has become. In mid-August, Network Appliance reported that first-quarter revenues had jumped 39 percent to $621.3 million from the same quarter a year ago. The company hired 239 people in the first quarter, bringing its head count to 5,215. And the company raised its guidance for the coming months. Investors responded by driving the stock up 14 percent since then to $37.01 -- up 62 percent over the past year.
Whirlpool sells Amana microwave unit
DES MOINES, Iowa (AFX) - The Amana commercial microwave business has been sold by Whirlpool Corp. for $49.25 million to a British company. AGA Foodservice Group of Solihull, England, an international cooking and refrigeration equipment manufacturer, said it has not decided where it will locate production. The Amana commercial microwave operation, based in Middle Amana as part of the company's refrigeration division, makes appliances for restaurant chains. The commercial microwave business employs about 75 workers at the Middle Amana plant. AGA Foodservice said it plans to hire 35 of those workers. Whirlpool spokeswoman Jody Lau said the remaining 40 employees will be eligible for other jobs at the Amana refrigerator plant. Under the purchase agreement, Amana will continue to manufacture microwaves for AGA Foodservice for up to two years, until AGA gets its own factory ready for production.
The Buzz: New Grand Chute Best Buy opens Friday
This week, one longstanding Grand Chute electronics store makes the leap to a new home, downtown Appleton businesses come and go, and on the east side Festival Foods and Lowes inch closer to their debuts.
Opening
The old Best Buy location in Grand Chute closed Monday, and a shiny new Best Buy opens a block away on Friday.
As the store moved from one location to the other, it shed its eighties linoleum and narrow aisles in favor of carpeting, wide aisles, bilingual signs and a racetrack format that makes the store easier to navigate.
The store also moved forward with everything high tech, from HD and LCD to Blu-ray, digital and cellular. That obviously means no film cameras or movies on VHS.
One of the biggest changes is in home theater.
Web research helps keep your i on the prize
Ah, the best. What else would one aspire to? I know I've given it some thought from time to time, especially when it comes to tech products. Sometimes I even play a hypothetical shopping game: “If I had to buy a computer tomorrow, which Mac would I get?" I usually go through a bout of speculation every time Apple announces a significant number of new models. Apple's on-line store is quite useful for this sort of time-killing daydream, because the specifications of each unit are laid out for easy comparison. If it actually came time to make a purchase, I'd visit a real-world store, but at least I'd know pretty much what I wanted by the time I walked in the door. Coming in with an informed perspective seems to be how the smart money is spent these days—for example, some statistics claim that more than 80 percent of automobile purchasers engage in Internet research before setting foot in a dealership.
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