Check out the latest ripple from the Lehman bankruptcy.
 
It’s part of the Best Buy earnings warning.
 
Okay, the headline is “seismic changes in consumer behavior” that hammered sales, as CEO Brad Anderson put it.
 
But further down the company also says it has taken a new $150 million credit facility to provide additional flexibility to address both market conditions and “potential opportunities.”
 
One reason the company needed the credit facility was because one of the participants in its $2.5 billion revolving line of credit filed for bankruptcy. That was Lehman Brothers, a Best Buy spokeswoman said.
 
So here’s how the credit crisis affects Best Buy: On the one hand, the company has to seek out new financing because one of its creditors went bankrupt. But at least it got the financing.
 
On the other hand, consumers have trouble getting financing for those big screen TVs. That’s going to cut into sales.
 
And there is a third hand, too. Rival Circuit City filed for bankruptcy as credit terms tightened. So Best Buy is trying to sell its TV’s and computers while Circuit City is liquidating the same type of inventory.
 
Also in the basket:
 
Macy’s posts loss but tops expectations
 
Buying binge slams to a halt (N.Y. Times) 
 

(Reuters photo)