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$2 Billion Oops

By Dave ⋅ August 27, 2007 ⋅ Post a comment

New York Times

Home Depot was forced to drop the sale price of its commercial supply business by nearly $2 billion yesterday, according to people involved in the negotiations, one of the first big buyouts to be renegotiated as a result of the recent tightening of credit and problems in the housing market.

Commercial Supply was part of the “value add” that Lootin’ Bob Nardelli pushed during his tenure at Home Depot.  Maybe they can recoup the $2 billion dollar write down from his golden parachute.

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