Tuesday, December 16, 2008
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Best Buy Co., the nation's biggest consumer
electronics retailer, said Tuesday that its third-quarter profit
sank as it faced dramatic changes in consumer spending and added it
will offer buyout packages to nearly all its corporate employees in
an effort to cut costs.
A record plunge in consumer prices in November
puts pressure on the Federal Reserve to act decisively to guard
against a debilitating bout of deflation.
Minneapolis arts venue and promoter Intermedia Arts is closing its gallery in January and laying off its full time staff.
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