Red ass Home Depot CEO made more in his first two hours than one employee for entire year.

[lonestarnot]

What do you think of that?

[leftofthedial]

I think it is immoral

and inexcusable

screwing workers pays good in America

[Kutjara]

1. It depends.

Was that one employee a Repug or a Dem?

[lonestarnot]

4. Prolee a pug, but why should that matter?

[Kutjara]

8. It doesn't really, but...

...it's sort of poetic justice if they're a 'Pug. Reap what you sow, and all that.

[lonestarnot]

11. I hear ya!

[progdonkey]

14. you should care about poor Reps, too...

While some of it may just be outright stupidity, much of the reason that poor Repubs vote that way is because they're just uneducated. They're uneducated because they can't afford to go to even a local community college because they make so little working at Home Depot, which in cyclical fashion means they can't become educated enough to work anywhere but Home Depot.

Of course, plenty of Repubs (especially the Wal-Mart crowd) are proudly ignorant and don't deserve much sympathy for where they are, but there are many more people who honestly believe that voting for a Republican is "standing on principle" or some such BS. They don't do it out of spite, but out of sheer ignorance; ignorance which can be corrected through education. They don't know enough about anything to realize how much the Republicans are screwing them.

Edited to add: I just saw your other reply, and I do agree that the "poetic justice" aspect would be nice. :evilgrin:

[EFerrari]

2. I think we need to shop at Loewe's.

Mofo. :mad:

[lonestarnot]

5. Agree!

No more Home Depot even though it's closer to my home.

[napi21]

3. The worst part of this story is that the HD stockholders were upset

that this idiot was making so much money, and the BOD demanded that he take a paycut. He refused, so they told him to leave the company. That part's fine! Then the idiots gave him a $210 million severance package!!!! What AH's! He should have walked away with NOTHING but a kick in the a**!

[lonestarnot]

7. And to top that off, stock worth less than when he went in!

[hfojvt]

9. I'm pretty sure they did not give him anything

Not as a gift. He had a contract that they were legally obligated to settle.

[lonestarnot]

12. Well no shit, a contract that keeps on giving. Not a gold, but platinum parachute.

[Telly Savalas]

18. The contract was a gift in the first place.

The BOD might as well be made up of 3rd graders if they're offering their executive officers contracts with clauses that require golden parachutes of nearly a quarter billion dollars.

[lonestarnot]

20. 3rd graders? Organically brain damaged adults.

[jmowreader]

22. They weren't just upset by his compensation

There are quite a few things to be pissed off about Bob Nardelli; what we paid him is real low on the list.

Nardelli had a real strange way of growing the company: cannibalization of existing stores and buying other businesses.

Cannibalization, in this instance, means opening another store in an existing market. An example that comes to mind quickly is HD 3604 in Greensboro, NC. It's about a 120,000-sf building constructed during Bernie and Arthur's service, and it did very well. Nardelli decided that 3604 was being overworked and opened five other stores in the Greensboro area in about a year's time. Now 3604 has about a quarter of its pre-Bob sales volume. If I was running The Home Depot instead of Bob Nardelli, I probably would have opened one other store in Greensboro then chosen four other cities in NC to put the other four stores. Right off the top of my head...Smithfield, Lumberton, Southern Pines and Sanford all need Home Depots. Smithfield is in Johnston County, which is Raleigh's bedroom community. Southern Pines is next to Pinehurst, one of the richest towns in the South. Lumberton isn't that big, but a lot of people live around it who don't want to drive to Fayetteville. And Sanford is another fast-growing area.

When Nardelli decided to expand into Mexico, he bought a Mexican home warehouse chain. When he decided to expand into China, he bought a Chinese clone of The Home Depot called The Home Way--it's so much a clone of HD, Home Way's employee uniform was an orange apron. He's been buying up some of our smaller suppliers--Crown Bolt, for instance. These are safe things to do. Safe is a passbook savings account. Safe gets you three percent growth a year. There's twenty percent sitting on the floor that just needs to be picked up.

Were I the CEO of Home Depot, here's what I'd do:

First, start building smaller stores in small communities, and lots of them. A place like Kellogg, Idaho, or Red Springs, NC, can't support a 95,000-sf store...but they can support a 40,000-sf one.

Next, return to the Eight Core Values--among which are an Entrepreneurial Spirit and Taking Care of our Own. We've gotten away from that. Enhancing Shareholder Value has always been one of the eight; it's the only one that caught Nardelli's attention. (And I can't figure out WHY...fully three-quarters of all Home Depot stock is held by Home Depot employees.)

And finally, create some New Businesses. There are, at the present time, no nationwide manufactured housing supply firms. Manufactured housing parts are different from stick-built housing parts--the standard trailer entry door is 34x75, not 36x80--and right now, they're sold through a network of local dealers who charge what the market will bear.

[krispos42]

6. Hmmm... takes him longer than most CEOs...

Bet he'll fix that in the new year.

The average CEO makes, I believe, $10,000,000 a year. That's $5,000 an hour. He makes in two hours what a full-time minimum-wage earner makes all year. The biggest CEOs do it in less than an hour.

[MazeRat7]

10. And he got "runt-oft" by the share holders and mgmt.... I think they have spoken clearly. -nt

[lonestarnot]

13. But he "runt off" with all the dough.

[MazeRat7]

15. True.. but that package was approved by the board and shareholders....

They fucked up when they made that deal and it hurt the company. This is one case of greedy pugs hurting other greedy pugs that I personally have enjoyed.
The downside of course is the employees...they got caught in the cross-fire.

MZr7

[lonestarnot]

16. I hope greed bites them in the ass hard!

[Virginia Dare]

17. Isn't capitalism great?

:sarcasm:

[lonestarnot]

19. This is capitalism gone wild. Robbery that should be outlawed.

[Virginia Dare]

26. Another gilded age, wheeee!!!!...n/t

[WiseButAngrySara]

28. I misread your post as "Isn't capitalism GREED?" LOL! I

aGREED.

[muntrv]

21. According to a column in yesterday's Detroit Free Press, Home Depot's

stock dropped by 8% under Nardelli's watch while the stock market overall grew 17%. Lowe's stock grew as did it's market share.

[lonestarnot]

30. Thanks for the numbers. The big picture was previously noted.

[uppityperson]

23. HomeDepot is one of those "everything but what I want" stores too

I have pretty much given up on them because whatever I want they are out of. They have lots of stuff, but nothing I need or am looking for. Lowes is better.

[Sherman A1]

25. I think of Home Depot as....

Big Store, Lots of Stuff, No Service as opposed to Lowe's which I consider to be Big Store, Lots of Stuff, No Service, but better lighting...... Shop at your local hardware store and support independent dealers!

[mitchum]

24. Up against the drywall

[bridgit]

27. i heard Howard Stern makes $1,000 every 7sec...

:shrug:

[Selatius]

29. The real question should be what to the line workers who work hard everyday think about it.

I'm more interested in the ordinary workers whose efforts, intentionally or unintentionally, are propping up their CEO. The fruits of their labor have been taken from them by their slave master.