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Sir Terry Leahy

BY CSA STAFF

Sir Terry Leahy has a reputation for taking chances. Spearheading Tesco’s move onto U.S. soil, however, could be his biggest gamble of all.

Leahy, 50, has come under fire for leading a company that has been described as “too successful.” These accusations also subjected Tesco to intense regulatory and political scrutiny, stymieing local growth. Rather than back down, Leahy used the challenge as a springboard to expand operations overseas.

Targeting the United States as its latest conquest, Tesco opened its first six convenience store-type Fresh & Easy Neighborhood Market banners in Southern California in November. The units all boast self-service front ends, a predominantly pre-packaged assortment and a strong private-label presence. There are currently 15 stores across Los Angeles, Las Vegas and San Diego, and 200 more could open by the end of the year.

Keeping his “crossover” options open, Leahy is eyeing opportunities in India and possibly Russia. And if all goes according to plan, sales from the globalization project could eventually rival sales generated in Tesco’s Great Britain home—making Leahy the leader of one of the few truly successful international retailers.

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Borders to offer free resolution workshops

BY CSA STAFF

ANN ARBOR, Mich. Borders said Thursday that it is offering customers free in store events throughout the month of January to help them kick start their new year’s resolutions and learn how to keep them through the year. Programs include wellness fairs, yoga classes and diet seminars.

Borders reported that local organizations and community groups will be featured in activities and events at its stores across the country ranging from fitness centers and hospitals to singles groups and retirement centers.

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Schulze sells 440K shares of company stock

BY CSA STAFF

MINNEAPOLIS Best Buy chairman and founder Richard Schulze sold 440,000 shares of Best Buy stock last week valued at $22.4 million. Schulze sold the stock at prices ranging from $50.71 to $51.18 per share. Earlier this month, Schulze sold 2.35 million shares valued at more than $120 million.

While Schulze’s stock sales are considerable, they represent just a fraction of his holdings at Best Buy. He’s estimated to still hold more than 68 million shares of stock amassed during 41 years with the company.

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