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1998-09-04
Atlanta, GA. A Moment for Bernie

According to a Reuters news story, Home Depot Chairman Bernie Marcus has seen his net worth drop by 22%, or roughly $470 million, since July 15th, when his Home Depot stock was at 49. It has dropped to 38. In the last 18 months, Home Depot's share price has tripled, so it must have really hammered Bernie to lose so much money so quickly. If every Home Depot associate would just give $1 dollar from their take home pay to Bernie next week, it would probably go a long way towards making up for this week's market misfortunes.

What you can do: The "Help Bernie Regain His Net Worth" Fund is accepting contributions. See the mailing address in the entry below about Home Depot's Dictionery. Over the long run, look on the brighter side, Mr. Marcus. The Motley Fool says that Home Depot management "apparently isn't worried, planning to nearly double the number of stores to 1,100 by the year 2000". Motley says HD needs to find new venues overseas if it has any hope of sustaining its recent revenue growth. "If it can keep building sales, then the profit picture should be gravy." Sure hope they like gravy in Chile, Mr. M.










 
 
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