January 05, 2007

LinkNews Digest [01/05/2007]

Home Depot CEO Fails, Gets $210M

Robert L. Nardelli, the chief executive of Home Depot, who came under heavy criticism for his pay package and failure to lift the chain's stagnant stock price, has abruptly resigned, the company said today.

In its statement, Home Depot said that Mr. Nardelli and the company’s board "mutually agreed that Nardelli would leave his position." He will receive about $210 million in compensation from the company, including the current value of retirement and other benefits he was already entitled to, the statement said.

The unexpected departure of Mr. Nardelli caps a tumultuous year at the company, the nation's second largest retail chain after Wal-Mart. Shareholders had begun to openly question the company’s direction and Mr. Nardelli's leadership, and the board was under considerable pressure to make a change.

Within the past month, one activist shareholder, Relational Investors, said it would propose that an independent committee evaluate the company's direction and management. In a letter to Mr. Nardelli, the firm said Home Depot's stock had underperformed since 2000 because of "deficient strategy, operations, capital allocation, and governance."(LINK )

Deliveryman Interview Contains Jackson 5 Dancing

B&Q have been criticised after would-be van drivers were asked to dance to the Jackson Five's Blame It On the Boogie.

Clive Hagon-Powley complained: "The first exercise we had to do was form a circle. Then we had to dance to Michael Jackson. After that, we had to pull funny faces while the interviewers took photos. What this had to do with working for B&Q I do not know. I should have walked out then but I need a job."
Another of the candidates, Rodney Southern, 35, from Martham, Norfolk, added: "I don't mind a laugh and a joke but I didn't expect that at a job interview. I was humiliated." Neither Mr Hagon-Powley's nor Mr Southern's dancing skills were up to the mark as they were not offered a job.

The company said in a statement that it was an informal and "light-hearted exercise" before the formal interview process began. "The vast majority of interviewees said it was a relaxed way to get the interview session under way," the company said.(LINK )

French Protest New Year, to Boycott 2007

French demonstrators saw in the New Year - by protesting against it. People carrying banners reading 'No to 2007' and 'Now is better' marched through the streets of Nantes. They called on the United Nations to stop the 'mad race' of time and declare the indefinite suspension of the future.

The protest was an attempt to make fun of French people's apparent fondness of saying no to any kind of change and as a different way to celebrate the New Year. When the bells sounded to mark the start of 2007, they moved on to the next stage of their campaign - chanting 'No to 2008'.(LINK )

Goalie Offered in Trade for Gas Pipeline

A Romanian second division football team is offering one of its top players in exchange for a gas pipeline.

Cornel Rasmerita, mayor of Lupeni in western Romania, who is also in charge of the Minerul football team said he was willing to sell his star goalkeeper Cristian Belgradean to first division team Jiul.

The deal would be subject to Jiul's rich businessman owner paying for the construction of a gas pipeline in his town.

He said: "I know our keeper is wanted by a number of top clubs but I am willing to let him go to Jiul if the club's owner makes a $110,000 investment in a gas pipe that my town needs so much."

Jiul bosses have not responded to the offer but it is not the first time football players have been exchanged for goods in Romania.

Previous deals have seen players swapped for half a pig and two sets of goalposts and a crate of wine.(LINK )

1 comment:

  1. Yow. I somehow KNEW that TAOBBATED was grounded in fact.

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