Home Depot CEO on Defensive
HARRY R. WEBER; The Associated Press
“ATLANTA - Home Depot CEO Bob Nardelli admits the home improvement retailer's image has had its highs and lows, and - this might be a jolt, he says - both are probably unjustified."The company probably was never as good as was perceived, and it sure in the hell is not as bad as it is perceived today," Nardelli said in an Associated Pres sinterview Wednesday. “
“ In the numbers game, Home Depot, which operates the nation's largest home improvement store chain, is winning. It reported a 21 percent jump in profit to $1.1 billion in the period ending May 2, compared with an 8 percent increase to $455 million for North-Carolina-based Lowe's Cos. Inc. “•Politics: Nardelli's business might has helped him in the political world.Last month, he hosted a Republican fund-raiser at his Atlanta mansion attended by President Bush that brought in an estimated $3.2 million. In 2003, Nardelli donated $25,000 to the Republican National Committee and $2,000 to the Bush re-election campaign, records show.He also has donated money to a Home Depot political action committee that has donated thousands of dollars from employees to political causes and candidates from both major parties.
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