Hot Story - Circuit City Gets Unsolicited Buyout Bid

In a development that took both Wall Street and consumer electronics industry observers by surprise, a private investment firm that currently owns 6.7% of Circuit City stock has put in an unsolicited bid to buy the number two CE retailer for $3.25 billion. Faced with increasing competitive pressure from big box retailers, such as Best Buy and Walmart, Circuit City has had a series of ups and downs the past few years, which may have finally placed it in a vulnerable take-over position. For more details on this important story that could have ramifications for consumers, check out the report from ABC News.