Home Depot to Shareholders: Bugger Off

It seems Bob Nardelli, CEO of The Home Depot, has taken his militaristic strategy a bit too far.

Reporters and shareholders were expecting a corporate showdown at Thursday's annual meeting.  Instead, they were met with bouncers in Home Depot aprons, countdown timers for shareholder questions and a complete absence of the board of directors.

Joe Nocera, respected business reporter for the New York Times, gives his account of the bizarre and almost incomprehensible series of events here. [subscription required].

Nardelli is the new poster boy for overpaid execs, raking in more than $37 million last year alone.  In the meantime, Home Depot stock took a 12% hit last year while Lowe's stock jumped 173%.

I talk a lot about the excellent work Home Depot has done to improve the customer experience for women; it's too bad they forget that women are also stockholders.  This kind of damage has a long half-life...

Comments

[Viaggiatore]

Michele: okay, I'll bite. You mention that you talk a lot about what Home Depot has done to improve the customer shopping experience for women. Maybe. But they haven't done nearly as much as their main competition, Lowe's, in this arena.

And for low-end improvement/decor projects, of course there's the "newish, big-boxish" 800-lb gorilla player in appealing to women, Target.

So, sure, Depot may have put some energy into that area. But not enough (nor would I posit that's the only reason they're struggling). But hopefully we're entering a world where just a few superficial nods to women as customers isn't newsworthy. HD hasn't taken us as seriously as their competition has, and their stock performance clearly reflects it.

[Don Wenzel]

Home Depot has very poor customer service. They have now installed three roofs on my house in eight months and did over $1,000.00 in damages now they offer me $352.87 for all of my troubles. You can see my web site at www.freewebs.com/myroof

Thank you
Don Wenzel
Oxford, Michigan