Nepotism One thing I didn't mention is nepotism. Its pretty bad at the Executive level. Many of Lowe's Executives (past and present) are the offspring or relatives of previous Lowe's Executives from back in the day. While some are good people, a few achieved their status and power at Lowe's mainly because of who they are/were related to. Ask yourself this... We all know that Lowe's has a terrible computer system. We all know this. It's fact. Then ask how does the Chief Information Officer, Steve Stone keep his job? Is it because he is doing a good job? Or is it because he is Larry Stone's brother? ...
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Bunker Charles OP-ED on RedAprons.com May 12,2009 Ask any Lowe's Corporate Executive why Lowe's Associates are forced to clean the store restrooms and they will tell you because "it's not in the budget". Or "we have to cut back and save on expenses where we can". Then how can Lowe's still afford the give-a-ways of millions of dollars at the same time? Something doesn't jive here! What is more important to you Mr. Robert Niblock? Some new playground equipment in some little backwater town or the morale of Lowe's Associates? You my friend are clueless. And sooner or later your greed and arrogance will catch up to ...
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Larry Stone , as quoted on 5/18/09's Conf. Call: "One example is our cost reduction initiative, where there are multiple efforts underway to drive down costs. On that front, we have recently rolled out a new automated spend management system for expense purchases that will provide cost savings, enhanced controls, as well as automated processing for all non-merchandising purchases" "The primary purpose of this tool is to provide cost control and management approval for expenses prior to the acquisition of goods and services. Purchase orders and invoices can be routed electronically, driving down the cost of processing those transactions and with aggregated data, ...
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Bunker's Commentary (One man's opinion, we all have one) Important Dates: Monday, May. 18, 2009 - Lowe's (Q1, 2009) Earnings are released. - LINK- Tuesday, May 19, 2009 - Home Depot's (Q1, 2009) Earnings are released. -LINK- What to watch for: COMPS! On the last earnings report comparisons, it appeared that Home Depot was trending to be able to out perform Lowe's in Comparable ("Comp") sales increases in the first quarter of 2009. If that becomes fact, then there is something definitely wrong at Lowe's and something definitely right at Home Depot. So far this year, Home Depot Executives have admitted they have a ...
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" Pay of Lowe's CEO rises 11% during a down year" Source: http://www.charlotteobserver.com/business/story/622541.html "Lowe's chairman and CEO Robert Niblock saw his compensation rise in 2008, despite a difficult year in which the Mooresville-based home improvement retailer's earnings declined 22 percent" "Niblock received $6.6 million in total compensation, up 11 percent from $5.9 million the previous year, according to a proxy statement filed late Tuesday" "In addition to salary, stock options and incentive pay, Niblock, 46, is required to use company aircraft for all business and personal travel " Read how people are reacting to this story: -CLICK HERE-
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