The Conservative Cave
Current Events => The DUmpster => Topic started by: franksolich on February 25, 2015, 11:05:23 AM
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http://www.democraticunderground.com/10026275224
Oh my.
Even on his "death"bed, the primitives have no mercy for the big guy.
Omaha Steve (47,417 posts) Tue Feb 24, 2015, 10:14 PM
Home Depot just stuck it to every worker (like the rest of the BIG companies do)
Home Depot is buying back shares of it's stock to push the price up. It upped the dividend too. Part of this $ should have gone to pay and benefits. None of it did! What ever happened to profit sharing???
http://hosted.ap.org/dynamic/stories/U/US_HOME_DEPOT_BUYBACK?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT
HOME DEPOT 4Q TOPS STREET ON HOLIDAY; OKS $18B BUYBACK
NEW YORK (AP) -- Shoppers liked what they saw at Home Depot during the holidays, helping the home improvement chain beat Wall Street expectations for its fourth-quarter results. The retailer also authorized the repurchase of $18 billion of its own shares, boosted its quarterly dividend by 26 percent and released a better-than-expected outlook for the year.
Its shares rose 3 percent in morning trading Tuesday after briefly hitting an all-time high.
The Atlanta-based company posted a fourth-quarter profit of $1.38 billion, or $1.05 per share, for the period ended Feb. 1. Excluding a gain related to the sale of a portion of HD Supply, its profit was $1 per share. That's well above the 89 cents per share that analysts had expected, according to a survey by FactSet.
Revenue was $19.16 billion, also better than Wall Street's projection of $18.68 billion.
FULL story at link.
Nye Bevan (19,132 posts) Tue Feb 24, 2015, 10:21 PM
3. So corporations that pay dividends on their stocks are now considered evil?
I guess we should all be shopping on Amazon, as Amazon stock does not pay a dividend and never has.
Omaha Steve (47,417 posts) Tue Feb 24, 2015, 10:24 PM
4. Not just the dividend
The $18 billion stock buy back to up the stock price. Maybe you didn't bother to READ the comments OR article?
DreamGypsy (2,093 posts) Tue Feb 24, 2015, 11:41 PM
6. Home Depot has an employee stock purchase plan...
...https://secure.livethehealthyorangelife.com/financial_wellness/save/employee-stock-purchase-plan
But first, a disclaimer: I don't patronize big box national chain stores like Home Despot; in our community we have a local equivalent home improvement center with a "chain" of exactly two stores, one in Springfield, one in Eugene; the range of products is better than HD, AND the staff is very knowledgeable and very helpful. Better Head for Jerry's.
However, if one does happen to be employee of a publicly traded company,like Home Despot, and if that company offers an ESPP, perhaps with a 5% or so discount on price for stock purchases (don't know whether HD does this), and if that company is aggressively working to increase its stock price, then employees who can afford to dedicate part of their monthly income to stock purchases may accrue significant benefits.
At one point in my life, through no particular fault of my own, I was working for IBM - a situation where a publicly traded company and I, as a particular employee, satisfied the conditions identified in the previous paragraph. Over 5 years or so of employment I managed to accumulate a small, but significant to me, number of shares of stock at ~$65 per share with the ESPP discount. After retirement from the company I was able to sell those shares at ~$150 per share. Sure, there was risk, but whatever one does entails some risk. I lucked out.
The fact that a corporation is working to raise its stock price (through buy-backs or whatever) does not necessarily mean it is abandoning its employees to serve the investors greed. Fighting minimum wage increases, denying health care, etc. - yeah, those are evil corporate sins - no question. But working to raise stock price, aka company valuation, may in fact be a benefit to employees as well as investors. like Home Despot, and if that company offers an ESPP, perhaps with a 5% or so discount on price for stock purchases (don't know whether HD does this), and if that company is aggressively working to increase its stock price, then employees who can afford to dedicate part of their monthly income to stock purchases may accrue significant benefits.
A HERETIC I AM (13,859 posts) Wed Feb 25, 2015, 12:50 AM
7. Unfortunately Steve, you have this wrong.
No where in the article does it claim that Home Depot is buying back shares in order to push up the stock price. Publicly traded companies do such buy backs all the time and it doesn't mean they are screwing heir employees.
Did you also read where they are planning on hiring another 80,000 people?
Now I am no fan of Home Depot, far from it. They, like most companies of their size and type, underpay their floor help, but increasing a dividend and buying back shares of common stock is not the horrible thing you have attempted to characterize it as.
yeoman6987 (5,466 posts) Tue Feb 24, 2015, 10:49 PM
5. I guess I helped with my new 25 thousand kitchen
That they just finished last week. They did an incredible job. Maybe I would have gone to Lowes had I knew this...who knows.
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God these people are stupid.
There is not a one of them that understands anything beyond "gimme".
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yeoman6987 (5,466 posts) Tue Feb 24, 2015, 10:49 PM
5. I guess I helped with my new 25 thousand kitchen
That they just finished last week. They did an incredible job. Maybe I would have gone to Lowes had I knew this...who knows.
How DARE you spend $25K on yourself you selfish, selfish person ymannumbers! Just look around you at someone like ugp who is going to commit suicide b/c it hates its roomate! That money should have gone to feed the poor and hungry!
Live your values or admit they are false!
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$25k on a kitchen.....DUmmie can't cook/operate a $5 flea market Coleman camping stove.
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A HERETIC I AM (13,859 posts) Wed Feb 25, 2015, 12:50 AM
7. Unfortunately Steve, you have this wrong.
No where in the article does it claim that Home Depot is buying back shares in order to push up the stock price. Publicly traded companies do such buy backs all the time and it doesn't mean they are screwing heir employees.
Did you also read where they are planning on hiring another 80,000 people?
Now I am no fan of Home Depot, far from it. They, like most companies of their size and type, underpay their floor help, but increasing a dividend and buying back shares of common stock is not the horrible thing you have attempted to characterize it as.
Don't expect a life long union mutt to understand such nuances, DUmmie.
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One reason companies buy back shares of their stock is to use those shares for their ESPP. A couple of DU-folk wandered close to that fact, but missed it. As for Home Depot's stock price, they altered the supply-demand point: the supply was diminished; the demand remained the same; therefore the price went up. Duh-uhhhhh!
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We should advise the Big Guy that American-made Batesville Caskets are manufactured right here in the heart of red state hell.
He can get a Chinese-made model a little cheaper, but they probably don't make his size.
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Oh dear, DreamGypsy lives near me and shops at the same hardware store I do. I'm buying Raid before I head for Jerrys.
Cindie
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Oh dear, DreamGypsy lives near me and shops at the same hardware store I do. I'm buying Raid before I head for Jerrys.
Cindie
Better get the maximum strength. Regular strength does not work on dummies. :cheersmate:
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Better get the maximum strength. Regular strength does not work on dummies. :cheersmate:
H5, I will! I'll stop at Walmart and pick some up on my way to Eugene. Think I'll stop by Chic-fil-A and have some lunch first.
Cindie