Household HSBC Watch

Electronics retailer Best Buy Co. said Tuesday it extended a multi-year strategic alliance with financial services company HSBC Finance Corp. Financial terms of the deal were not disclosed. Shares of Best Buy dropped 70 cents to $47.65 in afternoon trading. Perhaps shareholders were not happy with the decision.

Consumer advocates were not happy with the news. “It signals that Best Buy is happy with ongoing compensation, but the retailer shouldn’t look closely at HSBC and questionable tactics” said a member of Household - HSBC Watch. “The world knows HSBC Finance is the new name of predatory lender Household International so who is Best Buy trying to fool?”