Housing.com News, Analysis & Opinion: Buying & Selling: Home Depot Gets Pwned

"On the home improvement retail portion of this business, I don't think we've seen the bottom yet," Home Depot Chairman Robert Nardelli said during a conference call. "I don't see anything that suggests it's going to get significantly better in '07."

Given Bob Nardelli's extraordinarily bad leadership, you can't put all of this solely on the slump, but when a guy like that comes out and makes a statement virtually identical to that of Bruce Karatz (who is ironically also in trouble for stock backdating), there's clearly a sign of larger problems at work.

Of course, Housing Panic saw it coming as well, which leaves me to wonder how it is the entire world can know the bubble isn't through deflating yet...except the NAR?

Trackback Pings

TrackBack URL for this entry:
http://weblog.housing.com/cgi-bin/mt/mt-tb.cgi/277

IM IN UR EARNINGZ REPORTZ, KILLIN UR STOCK PRICE It isn't just Toll Brothers and KB Home that're feeling the effects of the slumping market. Home Depot just put the word out that their earnings forecasts are looking especially miserable: "On the home improvement retail portion of this business, I don't think we've seen the bottom yet," Home Depot Chairman Robert Nardelli said during a conference call. "I don't see anything that suggests it's going to get significantly better in '07." Given Bob Nardelli's extraordinarily bad leadership, you can't put all of this solely on the slump, but when a guy like that comes out and makes a statement virtually identical to that of Bruce Karatz (who is ironically also in trouble for stock backdating), there's clearly a sign of larger problems at work. Of course, Housing Panic saw it coming as well, which leaves me to wonder how it is the entire world can know the bubble isn't through deflating yet...except the NAR?