Home Depot's HD Supply expected to be sold today

Home Depot's Orlando-based HD Supply wholesale division is expected to be sold today, according to a number of published reports. Full Story
WTF

Orlando, FL

#1 Jun 19, 2007
Bought for 3.4 billion, and sold one year later for 10 billion!?!?!?

I hope that some of that money stays here in Orlando
soo

Houston, TX

#2 Jun 19, 2007
I need to check HD's stock and compare it to yesterday's.
Mr_Optimistic

United States

#3 Jun 19, 2007
That profit goes to pay off the former CEO's paycheck/stock. The new owners will shave it to the bone (aka layoff), make it look more rofitable, resell it again for 15 billion. It's the American Way.
Money is easily transferred to the deal makers place of residence. Orlando still has to look to Mickey Mouse for employment at Mickey Mouse wages.
Jay

Winter Haven, FL

#4 Jun 19, 2007
Mr_Optimistic wrote:
That profit goes to pay off the former CEO's paycheck/stock. The new owners will shave it to the bone (aka layoff), make it look more rofitable, resell it again for 15 billion. It's the American Way.
Money is easily transferred to the deal makers place of residence. Orlando still has to look to Mickey Mouse for employment at Mickey Mouse wages.
So when do you start your company so we can all work for you at better wages. Everyone likes to pick on the Mouse for their wages. How much do you pay someone to sweep the street or say the line starts here?

Some companies realize it is better to stay with who you brung to the dance. Some try and up grade and it is usually not very successful. Some how you sound like this is coming out of your pocket.
Inaccurate

Kissimmee, FL

#5 Jun 19, 2007
Only the Hughes Supply portion was bought for $3.4 billion. HD Supply already had its own business of similiar size and has since acquired additional companies.
native

Orlando, FL

#6 Jun 19, 2007
In the last several months Home Depot has laid off (fired) a LARGE number of HD Supply (formerly Hughes Supply) dedicated longterm employees.
WTF

Orlando, FL

#7 Jun 19, 2007
Inaccurate wrote:
Only the Hughes Supply portion was bought for $3.4 billion. HD Supply already had its own business of similiar size and has since acquired additional companies.
Oh OK, I get it. But they still gut the company and sell of the assets.

That is not building the company just lining the pockets of the big money guys.
Mr_Optimistic

United States

#8 Jun 19, 2007
It does come out of my/your pocket. That cost is insignificant when you think of the CEO smoking cigars/ riding first class jets while many dedicated employees are laid off and have to go home and tell Johnny that he won't be getting a new bike for Christmas. I'm close to the top in a company. I see the greed first hand.
You have no idea as most people don't.
They are laughing behind close doors, trust me.
antonio

AOL

#9 Jun 19, 2007
they bought the contractor supply companies to take the market away from Lowes. But home depots focus is women shoppers. You can'y run a construction supply co. like that
joe

United States

#10 Jun 19, 2007
It goes to show you you can not buy success. Customer service is the key to success. The Home Depot forgot this.
whatever the outcome it can't be any worse than it was for the end consumer.
wrong answer

Birmingham, AL

#11 Jun 19, 2007
Former Home Depot CEO Peter Nardelli is really Robert (Bob) Nardelli.
DetachedDude

Bossier City, LA

#12 Jun 19, 2007
Just a matter of time before these buyouts end. Too much cheap cash floating around financing every kind of junk deal.
stuck with check

United States

#13 Jun 19, 2007
Hey Buddy, Who gets to walk with the tens of millions in tax incentives you served up to Home Depot to keep former Hughes jobs in Orlando?

My guess Home Depot gets to sweeten the deal and walk back to Atlanta with all the marbels and then some.
WhoWhatWhere

Longwood, FL

#14 Jun 19, 2007
Home Depot was started by two fired employees from some hardware store who wanted to start an employee loyal company.......

SELLOUT HYPOCRITS.

SHop at Lowes, at least they stuck to their original roots of corporate greed instead of selling out.
Roger - currently in NC

Raleigh, NC

#15 Jun 19, 2007
Corporate greed is disgusting. I worked at WDW during the years when Michael Eisner was making multiple millions. Admittedly, it was because of his stock options, agreed upon in a contract signed ten years prior... but still. I calculated that Michael made more IN ONE HOUR than I made all year long, and I was salaried!

Who was the high-profile executive of some national company who took a one-dollar salary last year? Now THAT is an example of leadership. I would work for him/her in a heartbeat.

Michael could have given each of WDW's employees (oops, Cast Members) a $50,000 "holiday" check and not even have missed the pocket change.

WHO is going to get all his riches? His two sons? Can you say "spoiled brats" like Paris Hilton? Inherited money is sin. WORK FOR IT.
Roger - currently in NC

Raleigh, NC

#16 Jun 19, 2007
Google says it was Steve Jobs, and the founders of Google and Yahoo. Of course, they're not hurting, they also have multi-millions already, in stock, in options, etc.

Hey, Mr. DeVos... are you listening? Howz about building us (yourself) a new arena?
Pinker

Shreveport, LA

#17 Jun 19, 2007
WTF wrote:
Bought for 3.4 billion, and sold one year later for 10 billion!?!?!?
I hope that some of that money stays here in Orlando
No silly, the money stays in Atlanta.
mark

United States

#18 Jun 20, 2007
Hughes employees better wake up and start better serving the contractors.I recently spent 2 hours in the orlando plumbing warehouse.the service sucks.
Tish

Omaha, NE

#19 Jun 20, 2007
This part of the article is shocking...
"George Rodon, Orange County economic development director, said he was unaware of the potential sale of the division, coming so soon after the first change in ownership. Former Orange County Chairman Linda Chapin, now director of the metropolitan center at the University of Central Florida, also was caught off guard by the pending sale."
Have they been living under a rock? It's been in the works all year! In the past several months the Orlando HQ has been gutted as they have fired as many long time Hughes employees as possible, bringing in short-time GE drones to profit off this sale. The damage was done months ago.

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