Home Despot
Submitted by advisor on Mon, 05/01/2006 - 3:09am.
The business press is heaving heaping helpings of scorn upon Home Depot following a stockholder's meeting at which it has been widely reported that President Nardelli demonstrated open disdain for the stockholders at the meeting, while standing on a stage guarded by somewhat aggressive enforcer-types wearing friendly "Home Depot" aprons. A stage which did NOT include the Board of Directors. Showing up at stockholder's meetings is about all that Directors are required to do. What up with the hubbub? Nardelli earned $245 million since 2000, and $38 million in the last year, and stockholders want to wring some necks. Since 2000 HD stock sagged 12%, while Lowes rose 173%. Other reporters have made comparisons between Enron and HD. We imagine that this is a story that won't be going away.
(much of the information for this article comes from Joe Nocera's column in the May 27 NY Times )
http://www.chron.com/disp/story.mpl/business/steffy/3901392.html
http://www.businessweek.com/ap/financialnews/D8HR06VG0.htm?campaign_id=apn_home_down&chan=db
