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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who wrote (9198)	7/7/1999 8:32:00 PM
From: Rande Is	Read Replies (1) of 57584

ELK GROVE VILLAGE, Ill., July 7 (Reuters) - Internet auction site operator uBid Inc. <UBID.O> said Wednesday that Allen Lenzmeier, chief financial officer of leading home appliance and electronics retailer Best Buy Co. Inc. <BBY.N>, will join its board of directors. "Having Allen join uBid's Board is an outstanding addition to our team. His experience will help guide our growth," Gregory Jones, uBid's president and chief executive officer, said in a statement. Under Lenzmeier and chief executive Richard Schulze, Minneapolis-based Best Buy has become a highly regarded retailer, consistently outperforming Wall Street's profit expectations. Lenzmeier joined Best Buy in 1984 and was named chief financial officer in 1991. Late morning Wednesday, Best Buy shares were up 5/8 at 77-7/8 after reaching a new 52-week high of 79-1/2 in early activity. uBid shares were ahead off 3/16 at 31-5/8.

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