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Here is a story from Fox News. Sure hope Joe Gibbs received his sponsorship money for 2007 already.......LOL

ATLANTA  —  Dogged by criticism of his hefty pay and his company's poor stock performance, Bob Nardelli abruptly resigned Wednesday as chairman and chief executive of The Home Depot Inc. (HD) after six years at the helm of the world's largest home improvement store chain.

But he didn't leave empty-handed: the Atlanta-based company said Nardelli would receive a severance package worth roughly $210 million, an amount decried by some lawmakers as a golden parachute that sends the wrong message to investors.

"It's a sign of being totally out of touch," said Rep. Barney Frank, D-Mass., the incoming chairman of the House Financial Services Committee. "They don't understand the extent to which they make the American public angry."

Frank said he would push for legislation requiring public companies to allow shareholders to have a say in compensation and severance for senior executives. At Home Depot's annual meeting last May, shareholder proposals to give investors a say on the CEO's pay and to restrict retirement benefits for senior executives were rejected.

Nardelli's severance package includes a cash payment of $20 million and the acceleration of unvested deferred stock awards currently valued at roughly $77 million. A Home Depot spokesman said the timing of the resignation had no bearing on the amount in the package.

This just supports what I said in an earlier thread. A company's stock prices drop (investors taking a hit) and the CEO gets pay raises.

It's nice to see someone finally take a stand dowever the $220mil severence is a slap in the face to the average employee and the shareholders.

I wonder who TS will rub elbows with in the Home Depot camp now?

Member of this message board since 1997

I'm just wondering if duct tape will now cost $30 a roll

$220 mil is ok, but its probably only $160 mil after taxes.

HD's dividend sucks compared to other stocks of the same price range. Investore must know how bad of a leader he was. At one point this morning, HD stock was up $1.95.

It is true, stockholders have just about no say in how a company is run. CEO's and presidents all sit on each other's boards making the rules. It's definitely a club. They should call the board of directors the board of kings.

Sickening and perhaps criminal. 20 or even 100 mil wasn't enough? Hell why not a cool billion and set the record for golden parachutes?

I lost my job at a company that hired an asshole like this. Run the company down, rape it, and move on to another.

www.Numbersusa.com  

When you get right down to it, the man got the money because he was SMARTER than the rest of us.

The stock brokers here on the board may not like it, but the man was smart enough to have a good attorney (if there is such a thing) make the contract that everybody signed.

The rest of us, because we are not smart, will continue to to build trophies, fix airplanes and drive trucks.

Save your butt, get a colon screening TODAY

For complete line of Sponsor Awards check out 
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Duane Davis

Laser Engraving 
641-751-7777
101 N Center
Marshalltown, Iowa 

Gee, are most Company CEOs Democrat or Republican?!

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A healthy diet of dirt in my nachos and beer.

HARD TELLING, BUT WHATEVER THEY ARE, THEY ARE SMARTER THAN AVERAGE, OR THEY WOULD BE TENDING BAR FOR A PAYCHECK.

Save your butt, get a colon screening TODAY

For complete line of Sponsor Awards check out 
MarshallTownLaser.com

Duane Davis

Laser Engraving 
641-751-7777
101 N Center
Marshalltown, Iowa 

duane is actuallty RIGHT this time!

28 is correct6... at least 43% was taken in TAXES on this "golden parachute".

seems to me that the tax revenue alone would leave the class warfare flunkies salivating with the usual venomous greed!

put your resume where you mouth is...you know they have a job opening...APPLY NOW!

Lincoln 1845 ft/.35 mile T1=118MPH 
Eldora 2287 ft/.43mile T3=135MPH
Port 2716 ft/.51 mile T3=TBD
Grove 2792 ft/.53 mile T3=135MPH
Selinsgrove 2847 ft/.54 mile T1=136MPH
"I didn't move to PA from El Paso in search of better 
weather." Van May

I'm glad that I don't build trophys, fix airplanes or drive trucks. Does that make me smart? I'd apply for the job if it was closer to Indian Territory.

Or tending Bar to finish off a MA Degree...I must be in the less than average smart class, for paying for college.

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A healthy diet of dirt in my nachos and beer.

CEO's are grossly overpaid in most cases, but you can;t blame them for taking the money if it is there legally. Maybe the system needs to be changed to make it more fair for the rest of the employees of most of our companies At least it is a job most Amercian will do and we don't have to worry about some guy from Mexifornia, or Mexas taking his place. Hell Duane isn't worth that kind of money.

Roger, don't be so damn greedy, you Indians have already hit your cash cow with the Casinos! (lol)

I would do my damndest to get fired if I had $200 million waiting for me LOL

I can't think it is right, but a contract is a contract, and it must have been signed by several people to make it legal.

Maybe the stock holders ought to be more outspoken if they are indeed upset.

Sort of like politics, only the loud ones are listened to. lol

BTW Jackhole, good luck, a good attorney could make you a millionaire

Save your butt, get a colon screening TODAY

For complete line of Sponsor Awards check out 
MarshallTownLaser.com

Duane Davis

Laser Engraving 
641-751-7777
101 N Center
Marshalltown, Iowa 

Duane, you are right about the cash cow for Indians but it's only the tribes with small citizenships that the member really receives large sums. I don't recall the numbers but Foxwoods employees over 10,000 people and the profits in the 8 figures and there are only a few thousand tribal citizens, of course, all very well off.

Us poor Cherokees number around 260,000 and IF we received an annual distribution based on our Casino profits, which we don't, we each would receive only about $200.

The Meskwaki tribe here in Iowa is getting close to 3 grand a month per tribe member, PLUS they ALL now have a NEW home compliments of the tribe and the kids money is being held in trust except for a few hundred for child care needs.

There are jobs for any members that want to work (most don't) and the tribe has bought thousands of acres of farm land.

When the Tribe was having an internal issue and the Govt closed them down for 9 months, it was claimed that they lost $3million per week profit from the casino.

They are finishing a $100 million dollar expansion right now.

Lookes like your tribe better get that guy from Home Depot to run it for you, he was making someone some money!

Save your butt, get a colon screening TODAY

For complete line of Sponsor Awards check out 
MarshallTownLaser.com

Duane Davis

Laser Engraving 
641-751-7777
101 N Center
Marshalltown, Iowa 

Duane, Actually the largest benefit made possible by our Casinos is employement. We employ close to 70% Native Americans of which about 60% are Cherokee. With over 3,000 workers in our Casinos that is a large number and we just approved a new minimum wage of around $8 for all workers. It's much better to be able to provide employement than a dividend check to everyone. If you make it tothe bowl, lets meet up and I'll take you for a tour of our Flagship, Catoosa Casino and even our Horse racing track, Will Rogers Downs.

lets not forget where mr nardelli came from----------can you say GE-----and he allso left there with millions

Robert Bond    San Jose Ca

i don't think hd loosing Mr nardelli is a bad thing i was a Mgr for hd when thy hired Mr nardelli and at that time thy had like 800 stores and a Pearson could go to hd and find a old retired contractor that could teach you anything you needed to learn ---now over 2000 stores later if you do manage to get eye contact with one of the teenagers that work there thy seem to disintegrate right in front of you

Robert Bond    San Jose Ca

You got that right Shrek

I use to work at Menards. I was helpful. Only with Air nailers, roofing supplies and welders though.

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A healthy diet of dirt in my nachos and beer.