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Stan Sheetz

BY CSA STAFF

Popular culture surrounding convenience stores has been less than savory. But perceptions have been changing, led to a great extent by Stan Sheetz. President and CEO since 1995 of the company that bears his family name, Sheetz has been at the forefront of evolving merchandise and technology offerings, centered mainly on touchscreen order-point terminals for expanded foodservice and coffee options and nofee ATMs for the “road warrior” core customer the 340-unit chain targets. But the real differentiator between the $3.9 billion enterprise and its c-store competitors is the corporate culture Sheetz, 52, has cultivated. Though the company is family-run, each worker with more than one year’s service is enrolled, at no cost, in an employee stock-ownership plan. The chain also distributes quarterly bonuses and all expense-paid trips to employees celebrating milestone anniversaries. So it’s not surprising that Sheetz has been honored for six straight years as one of the Best Places to Work in Pennsylvania. It won similar honors in Ohio.

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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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