Today, Bob Nardelli, their CEO, got fired.

Maybe the new guy can turn the place around

blog link to more info about Bob ( or " it's all about Bob" )

http://sethgodin.typepad.com/seths_b..._want_to_.html

btw looks like he gets a $210,000,000 severance package

he's a master of double talk

http://www.directorship.com/publicat..._nardelli.aspx

he could have been a politician with is ability to talk & not answer
questions but obviously he made the correct financial decision

OTOH with his $210 million he could buy himself a governorship
somewhere

cheers
Bob

BobK207 wrote:
Today, Bob Nardelli, their CEO, got fired.

Maybe the new guy can turn the place around

Unfortunately, the Iraqis just hanged him.

BobK207 wrote:
Today, Bob Nardelli, their CEO, got fired.

They found a video of him once helping a customer, back when he was a
young man.

BobK207 wrote:
Today, Bob Nardelli, their CEO, got fired.

Maybe the new guy can turn the place around

blog link to more info about Bob ( or " it's all about Bob" )

http://sethgodin.typepad.com/seths_b..._want_to_.html

btw looks like he gets a $210,000,000 severance package

he's a master of double talk

http://www.directorship.com/publicat..._nardelli.aspx

he could have been a politician with is ability to talk & not answer
questions but obviously he made the correct financial decision

OTOH with his $210 million he could buy himself a governorship
somewhere

cheers
Bob



I just came back from HD an hour ago. I wondered why every employee
smiled and asked if they could help. :-)

--
Bill
in Hamptonburgh, NY
To email, delete the double zeroes after @

While I'm not a stockholder (Wish that I was years ago) in Home Depot I
think the shameful thing about all this is although he was "Fired" he left
with $210,000,000.00 for what? FAILURE? Something is wrong when CEO's and
Executive level people have Golden Parachutes that guarantees a fortune for
failure to perform, just as Nordelli did. If it were a store manager whose
store failed to excel or meet sales expectations or some department manager
the only thing they would leave with or get for being fired would be
uncertainty about their families future and a bad job reference to carry
with them.

To me that's the story. I'm glad for the Stockholders whose stock will most
likely go up due to his leaving, if but for a short while, but $210 Million
for failing to do your job?




On 1/3/07 4:30 PM, in article
, "BobK207"
wrote:


Today, Bob Nardelli, their CEO, got fired.

Maybe the new guy can turn the place around

blog link to more info about Bob ( or " it's all about Bob" )

http://sethgodin.typepad.com/seths_b..._want_to_.html

btw looks like he gets a $210,000,000 severance package

he's a master of double talk

http://www.directorship.com/publicat..._nardelli.aspx

he could have been a politician with is ability to talk & not answer
questions but obviously he made the correct financial decision

OTOH with his $210 million he could buy himself a governorship
somewhere

cheers
Bob

In article ,
Willshak wrote:

I just came back from HD an hour ago. I wondered why every employee
smiled and asked if they could help. :-)

Sure, but tomorrow it will be back to the same old same old.

"Come meet the new boss, same as the old boss."

-Pete Townsend

Poor Guy!!! I hope he can live on 210 million!!!


Gary KW4Z wrote:
While I'm not a stockholder (Wish that I was years ago) in Home Depot I
think the shameful thing about all this is although he was "Fired" he left
with $210,000,000.00 for what? FAILURE? Something is wrong when CEO's and
Executive level people have Golden Parachutes that guarantees a fortune for
failure to perform, just as Nordelli did. If it were a store manager whose
store failed to excel or meet sales expectations or some department manager
the only thing they would leave with or get for being fired would be
uncertainty about their families future and a bad job reference to carry
with them.

To me that's the story. I'm glad for the Stockholders whose stock will most
likely go up due to his leaving, if but for a short while, but $210 Million
for failing to do your job?




On 1/3/07 4:30 PM, in article
, "BobK207"
wrote:


Today, Bob Nardelli, their CEO, got fired.

Maybe the new guy can turn the place around

blog link to more info about Bob ( or " it's all about Bob" )

http://sethgodin.typepad.com/seths_b..._want_to_.html

btw looks like he gets a $210,000,000 severance package

he's a master of double talk

http://www.directorship.com/publicat..._nardelli.aspx

he could have been a politician with is ability to talk & not answer
questions but obviously he made the correct financial decision

OTOH with his $210 million he could buy himself a governorship
somewhere

cheers
Bob

Gary KW4Z wrote:
While I'm not a stockholder (Wish that I was years ago) in Home Depot I
think the shameful thing about all this is although he was "Fired" he left
with $210,000,000.00 for what? FAILURE? Something is wrong when CEO's and
Executive level people have Golden Parachutes that guarantees a fortune for
failure to perform, just as Nordelli did. If it were a store manager whose
store failed to excel or meet sales expectations or some department manager
the only thing they would leave with or get for being fired would be
uncertainty about their families future and a bad job reference to carry
with them.

To me that's the story. I'm glad for the Stockholders whose stock will most
likely go up due to his leaving, if but for a short while, but $210 Million
for failing to do your job?

I agree. The problem at Home Depot wasn't just the CEO it was, and is,
the BOD.

Matt

Gary KW4Z wrote:
To me that's the story. I'm glad for the Stockholders whose stock will most
likely go up due to his leaving, if but for a short while, but $210 Million
for failing to do your job?



****! I'm willing to fail to do my job for a mere $100 million. Mention my
name to the board, will ya?



--
Mortimer Schnerd, RN
mschnerdatcarolina.rr.com

Ouch!

The Atlanta Journal publishes in Home Depot's hometown.

I'm a 7 year HD associate and today was the best day I've had in years.
You shoulda heard the cheers!

Nardelli benefits grossly from appalling standard
http://www.ajc.com/opinion/content/o...edbookman.html

Published on: 01/04/07

Bob Nardelli was, by almost any measure, a failure in his job.

As chairman and chief executive officer, Nardelli led Atlanta-based
Home Depot for six years, and during that time the company's stock
price declined almost 8 percent. In that same time frame, the stock
market as a whole rose almost 17 percent, and the stock price of the
company's prime competitor, Lowe's, soared, as did its market share.

Nardelli's real failure runs still deeper, though, in ways less easily
measured. Home Depot's once sterling reputation - among customers,
shareholders and employees - also plummeted under his leadership, a
critical failing for a retail company whose dominance in the
home-improvement sector was once built on customer service.

So on Wednesday, Nardelli paid the price for his failure, just as
football coaches and others do, with the company announcing his
resignation. And as part of the deal arranged for his departure,
Nardelli will take with him a package of benefits totaling $210
million.

That buyout, combined with his previous compensation, means that for
his six years of failed leadership at Home Depot, Nardelli will have
reaped several hundred million dollars from company shareholders.

Ladies and gentlemen, that's obscene.

Typically, criticism of soaring executive pay is dismissed as mere envy
or class warfare. Successful people - the producers in society -
ought to be rewarded, the theory goes. If CEO pay is now several
hundred times that of the average worker, well, market forces must be
allowed to play out, and the only ones who complain are the losers.

Well, not only the losers. Warren Buffett, the head of Berkshire
Hathaway and by most accounts the world's savviest investor, has also
been highly critical of runaway CEO pay. In his company's 2005 annual
report, he discussed the problem in terms that seem to describe
Nardelli perfectly.

"Too often, executive compensation in the U.S. is ridiculously out of
line with performance," Buffett wrote. "That won't change, moreover,
because the deck is stacked against investors when it comes to CEOs'
pay. The upshot is that a mediocre-or-worse CEO ... all too often
receives gobs of money from an ill-designed compensation arrangement."

In Nardelli's case, there was no accountability built into the system,
only guaranteed "gobs of money," to borrow Buffett's description. If
Nardelli succeeded at Home Depot, he was going to be a very rich man,
which is fair enough. But if he failed, he was also going to be a very
rich man, and there's the rub.

Adam Smith, the 18th century Scottish philosopher, is revered as the
founder of capitalist theory; among many other ideas, he contributed
the concept of market forces operating as an invisible hand, guiding
the economy with far more wisdom than government or anyone else could
ever manage.

However, Smith was not naive about the ways in which the "invisible
hand" could be manipulated and thwarted by those with the power to do
so. And he was particularly harsh about the impact of guilds, the
associations of tradesmen and artisans who joined together to insulate
themselves from competition and basically set the price for their labor
and skills artificially high.

That's in essence what corporate executives have become in this
country, an informal but highly effective guild. As Buffett and others
point out, it is a closed system in which CEOs, retired CEOs and future
CEOs sit on boards of directors and compensation committees, setting
each other's pay with no incentive whatsoever to keep that pay within
bounds of decency or justice.

In fact, for a CEO or other board member to actually object to another
CEO's pay package, Buffett once wrote, "would be like belching at the
dinner table." Members of the guild just don't do that to fellow guild
members.

As the Home Depot case demonstrates, there is no economic explanation
for such ludicrous arrangements, only greed allowed to play itself out
with no force to countervail against it. Smith, writing more than 200
years ago in his classic "Wealth of Nations," explained it all quite
well when he wrote: "All for ourselves and nothing for other people,
seems, in every age of the world, to have been the vile maxim of the
masters of mankind."

·Jay Bookman is the deputy editorial page editor. His column appears
Thursdays and Mondays.

"BobK207" wrote in message
oups.com...

Today, Bob Nardelli, their CEO, got fired.


And the republicans say that unemployment is not a problem.

I knew the ship was on the rocks when I started hearing more store
announcements in Spanglish than English.

Steve

Steve B wrote:
I knew the ship was on the rocks when I started hearing more store
announcements in Spanglish than English.

Steve


means nothing, their customer base speaks Spanish too. Personally I
think they could probably improve their business by having bilingual
signage, etc. Around here Spanish speakers are a large minority and a
whole mess of them are in the DIY homeowner category and/or are involved
in some kind of building trade.

nate

--
replace "fly" with "com" to reply.
http://home.comcast.net/~njnagel

"Mortimer Schnerd, RN" mschnerdatcarolina.rr.com wrote in message
...
Gary KW4Z wrote:
To me that's the story. I'm glad for the Stockholders whose stock will
most
likely go up due to his leaving, if but for a short while, but $210
Million
for failing to do your job?



****! I'm willing to fail to do my job for a mere $100 million. Mention
my name to the board, will ya?


I was going to be a pitcher for the RedSox but it only paid $5 million a
year and I'd have to work, not just get fired. I'd rather get fired.

"John Reddy" wrote in message
...
| In article ,
| Willshak wrote:
|
| I just came back from HD an hour ago. I wondered why every employee
| smiled and asked if they could help. :-)
|
| Sure, but tomorrow it will be back to the same old same old.
|
| "Come meet the new boss, same as the old boss."

"HD wasteland, it's only HD wasteland!
they're allllllllllll waaasted".


|
| -Pete Townsend

"Gary KW4Z" wrote in message
...
| While I'm not a stockholder (Wish that I was years ago) in Home Depot
I
| think the shameful thing about all this is although he was "Fired" he
left
| with $210,000,000.00 for what? FAILURE? Something is wrong when
CEO's and
| Executive level people have Golden Parachutes that guarantees a
fortune for
| failure to perform, just as Nordelli did. If it were a store manager
whose
| store failed to excel or meet sales expectations or some department
manager
| the only thing they would leave with or get for being fired would be
| uncertainty about their families future and a bad job reference to
carry
| with them.
|
| To me that's the story. I'm glad for the Stockholders whose stock
will most
| likely go up due to his leaving, if but for a short while, but $210
Million
| for failing to do your job?
|


sounds like he got the same deal as B Clinton did
millions for failing to do his job.
does the ceo of hd get a new library as well?

Damn democrats

Gary KW4Z wrote:
To me that's the story. I'm glad for the Stockholders whose stock
will most likely go up due to his leaving, if but for a short while,
but $210 Million for failing to do your job?


$210 million for leaving? Well, it's none of my business. If the board want
to pay him that much, and the board was elected by the stockholders, it's
their decision. If something like that so offends a person's sensibilities,
he's welcome to start a competing company with different policies.

To pay someone $210 million to leave may be a better deal than allowing them
to stay. This technique is common in divorces.

"Nate Nagel" wrote in message
...
Steve B wrote:
I knew the ship was on the rocks when I started hearing more store
announcements in Spanglish than English.

Steve

means nothing, their customer base speaks Spanish too. Personally I think
they could probably improve their business by having bilingual signage,
etc. Around here Spanish speakers are a large minority and a whole mess
of them are in the DIY homeowner category and/or are involved in some kind
of building trade.

nate
About 20 years ago I moved to Florida. I had taken the wife to Hialeah to
some shop she just had to go to.
Across the way was a HD. I wanted to pick up some vents to put in the eaves
of our new house. I could not find anyone in the store who could understand
what I wanted and where they were.

Charlie

"HeyBub" wrote in message
...
Gary KW4Z wrote:
To me that's the story. I'm glad for the Stockholders whose stock
will most likely go up due to his leaving, if but for a short while,
but $210 Million for failing to do your job?


$210 million for leaving? Well, it's none of my business. If the board
want to pay him that much, and the board was elected by the stockholders,
it's their decision. If something like that so offends a person's
sensibilities, he's welcome to start a competing company with different
policies.

To pay someone $210 million to leave may be a better deal than allowing
them to stay. This technique is common in divorces.


If you own stock and vote on directors then you know that you don't get to
"elect" them. You get to "approve" them after the company tells you the
very short list of candidates.

Sadly, it's a very rigged game. Boards long ago stopped putting the
stockholders' interests first.

Thing that hacks me off is I finally unloaded the last of my HD stock a
month ago since it was clear the company wasn't going anywhere under
Nardelli and it's up 4 bucks since then.

Steve.

"Edwin Pawlowski" writes:
"Mortimer Schnerd, RN" mschnerdatcarolina.rr.com wrote
Gary KW4Z wrote:
To me that's the story. I'm glad for the Stockholders whose stock will
most likely go up due to his leaving, if but for a short while, but $210
Million for failing to do your job?

****! I'm willing to fail to do my job for a mere $100 million. Mention
my name to the board, will ya?

I was going to be a pitcher for the RedSox but it only paid $5 million a
year and I'd have to work, not just get fired. I'd rather get fired.

I got into a situation a few years ago where I was told to
do things the manager's way or else. I chose the "or else"
but it didn't include $210 million to go away. I'm obviously
in the wrong line of work.

John Reddy wrote:
In article ,
Willshak wrote:

I just came back from HD an hour ago. I wondered why every employee
smiled and asked if they could help. :-)

Sure, but tomorrow it will be back to the same old same old.

"Come meet the new boss, same as the old boss."

-Pete Townsend

They pretty much have to. The only way big box stores can pay for all of
the overhead and big salaries of upper management is to spin how good
their stores are and have poorly paid "associates".

Charlie Bress wrote:
"Nate Nagel" wrote in message
...

Steve B wrote:

I knew the ship was on the rocks when I started hearing more store
announcements in Spanglish than English.

Steve

means nothing, their customer base speaks Spanish too. Personally I think
they could probably improve their business by having bilingual signage,
etc. Around here Spanish speakers are a large minority and a whole mess
of them are in the DIY homeowner category and/or are involved in some kind
of building trade.

nate

About 20 years ago I moved to Florida. I had taken the wife to Hialeah to
some shop she just had to go to.
Across the way was a HD. I wanted to pick up some vents to put in the eaves
of our new house. I could not find anyone in the store who could understand
what I wanted and where they were.

Charlie



That was not necessarily a language issue

I recently walked out of a HD because nobody seemed to be able to tell
me where to find "pop rivets." That motivated me to get online and I
now know the locations of three local hardware stores; now I just need
to find a lumberyard.

nate

(oh yeah, and buy a truck or station wagon...)

--
replace "fly" with "com" to reply.
http://home.comcast.net/~njnagel

--
Posted via a free Usenet account from http://www.teranews.com

"wildo" wrote in message news:Bt3nh.460
sounds like he got the same deal as B Clinton did
millions for failing to do his job.
does the ceo of hd get a new library as well?

Bill Clinton did a hell of a better job than the lying idiot there now.
He didn't cause the death of 3000 US soldiers and the maiming
of 20,000. for a totally unjustified war.

Bob

Bob F wrote:
"wildo" wrote in message news:Bt3nh.460
sounds like he got the same deal as B Clinton did
millions for failing to do his job.
does the ceo of hd get a new library as well?

Bill Clinton did a hell of a better job than the lying idiot there
now. He didn't cause the death of 3000 US soldiers and the maiming
of 20,000. for a totally unjustified war.

Who cares if the war was "unjustified?" We get to kill lots of enemies of
this great republic. As for casualties, they are all volunteers and they
recognized that in return for the permission to kill the aforementioned
enemies, certain risks are involved. Just like firefighters or police.

Interestingly, 85% of the armed forces members who've served in Iraq or
Afghanistan have re-enlisted. Of the remaining 15%, some retired, some died,
some were disabled, and some had other obligations. Only a handful dropped
out of the military because they thought the project was flawed.

If YOU don't think 25,000 casualties over three years is a good idea, that's
your choice (even though we had that many casualties in ONE DAY during the
Battle of the Bulge), but you shouldn't object to those serving having
opportunity to kill people and destroy stuff just because YOU don't like the
concept.

"HeyBub" wrote in message
If YOU don't think 25,000 casualties over three years is a good idea,
that's
your choice (even though we had that many casualties in ONE DAY during the
Battle of the Bulge), but you shouldn't object to those serving having
opportunity to kill people and destroy stuff just because YOU don't like
the
concept.

I have a problem with training people to hate us, and training
them on how to kill us. The whole thing was just blind stupidity.

wildo wrote:

sounds like he got the same deal as B Clinton did
millions for failing to do his job.
does the ceo of hd get a new library as well?

Damn democrats

Dumbest remark on Usenet so far in 07.

HeyBub wrote:
Bob F wrote:
"wildo" wrote in message news:Bt3nh.460
sounds like he got the same deal as B Clinton did
millions for failing to do his job.
does the ceo of hd get a new library as well?
Bill Clinton did a hell of a better job than the lying idiot there
now. He didn't cause the death of 3000 US soldiers and the maiming
of 20,000. for a totally unjustified war.


Who cares if the war was "unjustified?" We get to kill lots of enemies of
this great republic. As for casualties, they are all volunteers and they
recognized that in return for the permission to kill the aforementioned
enemies, certain risks are involved. Just like firefighters or police.

You tell um Adolph.

On Thu, 04 Jan 2007 17:09:01 -0500, Nate Nagel
wrote:

Charlie Bress wrote:
"Nate Nagel" wrote in message
...

Steve B wrote:

I knew the ship was on the rocks when I started hearing more store
announcements in Spanglish than English.

Steve

means nothing, their customer base speaks Spanish too. Personally I think
they could probably improve their business by having bilingual signage,
etc. Around here Spanish speakers are a large minority and a whole mess
of them are in the DIY homeowner category and/or are involved in some kind
of building trade.

nate

About 20 years ago I moved to Florida. I had taken the wife to Hialeah to
some shop she just had to go to.
Across the way was a HD. I wanted to pick up some vents to put in the eaves
of our new house. I could not find anyone in the store who could understand
what I wanted and where they were.

Charlie



That was not necessarily a language issue

I recently walked out of a HD because nobody seemed to be able to tell
me where to find "pop rivets." That motivated me to get online and I
now know the locations of three local hardware stores; now I just need
to find a lumberyard.

nate

(oh yeah, and buy a truck or station wagon...)


Or a roofrack.

writes:
Poor Guy!!! I hope he can live on 210 million!!!
I think you are being sarcastic, but if he puts it into a 5% earning
savings account, the interest alone
could pay for 980 minimum wage earners who work 40 hours a week 52
weeks a year.
( / (* .05 210000000) (* 5.15 40 52)) =~ 980.21
(unless i mistyped someplace)


--
May no harm befall you,
flip
Ich habe keine Ahnung was das bedeutet, oder vielleicht doch?

In article , Philip Lewis wrote:
writes:
Poor Guy!!! I hope he can live on 210 million!!!
I think you are being sarcastic, but if he puts it into a 5% earning
savings account, the interest alone
could pay for 980 minimum wage earners who work 40 hours a week 52
weeks a year.
( / (* .05 210000000) (* 5.15 40 52)) =~ 980.21
(unless i mistyped someplace)

I would subtract inflation.

However, if I got that much money, I would put most of it into a total
USA stock index fund such as Vanguard "Index Total" (name of the fund in
short). Long term expectation based on the past (no guarantee) is about
9% annual rate of return, or about 6% above inflation as measured by the
Consumer Price Index. It can take 30 maybe 35 years to adequately average
out ups and downs in the stock market based on what happened in the past.
(I would say good indicators are S&P 500 with dividends reinvested when
received from the 1932 low to the 1982 low, or from the 1929 high to the
roughly 2000 high. IIRC, that's about 9.6% annual rate of return, and
good major index funds have annual expense ratio less than half a percent
so should have returned to their investors at least 9% over those periods
if they existed and operated by their current rules and methods through
such periods.)

I would put a few million out of such a big sum into a "prime" money
market fund (or two or three) and a few million into an intermediate term
bond fund (or two or three) to protect myself against the future failing
to continue the stock market performance of the past 140-plus years. And
200K (FDIC limit last time I checked) into CDs of a few years, not all
maturing simultaneously. And ask the bank if they offer higher interest
rates for oddball maturity times - I have found it a little common for
banks to do that, such as 13, 17 and 19 month CDs paying more than 12 and
18 month ones - but sometimes you have to ask; they only sometimes
advertise these! Also ask more than one bank! If you want a $100K CD,
also see what you can get in NYC - there is even so much as somewhat of a
market rate for $100K CDs from big-name banks in NYC!

- Don Klipstein )

BobK207 wrote:
Today, Bob Nardelli, their CEO, got fired.

Maybe the new guy can turn the place around


Maybe I missed something here but what has been so bad about Home Depot?

"Jon" wrote in message
...
| BobK207 wrote:
| Today, Bob Nardelli, their CEO, got fired.
|
| Maybe the new guy can turn the place around
|
|
| Maybe I missed something here but what has been so bad about Home
Depot?

besides their crappy twisted and warped lumber?
their incompetent staff that knows less about their products than a
homeowner.
their inability to give contractors a discount other than that stupid
10% that everyone under the sun seems to get.
not fixing their leaky roofs, even with all their repair stuff, they
still order it elsewhere.

I could go on and on and on.