Up 28% ytd, Goldman Sachs just told clients to rotate out of this stock. Cramer says, ‘don’t listen.’» Read More
Home Depot, facing investor criticism for its governance practices and $210 million severance for former Chief Executive Robert Nardelli, said Relational Investors has ended a proxy fight, and was awarded a seat on the retailer's board.
Wall Street is gearing up for a higher opening this morning after yesterday's sluggish trading saw averages barely budge. Tokyo and Hong Kong closed higher, and China's market found a firmer footing after its steep decline.
On Wall Street, there’s a guilty pleasure in watching the rich and powerful stumble. After the resignation Dell Chief Executive Kevin Rollins, many investors began quietly asking where the axe might fall next. Jon Ogg, the editor of 24/7 Wall Street.com, has accurately predicted changes at the helm of Home Depot, Gap and, as we mentioned, Dell. Today on CNBC’s “Street Signs,” we asked the question that everyone is wondering.
Former Home Depot CEO Robert Nardelli could have stayed as chief executive of the home-products giant if he had agreed to take a $20 million cut in his contract that entitled him to around $200 million, CNBC'S Charlie Gasparino has learned.
The Federal Deposit Insurance Corporation voted on Wednesday to extend for one year a moratorium on bank applications by commercial companies, such as Wal-Mart Stores and Home Depot .
Stocks in the U.S. are looking for direction this morning as Europe trades mostly higher and Asian stocks were mixed overnight. Lots of deal news and earnings reports are making headlines this morning, and investors await a heavy menu of economic data and a Fed meeting later in the week.
The days of Enron and WorldCom-sized corporate malfeasance scandals may seem like they just ended, but another debate regarding corporate ethics is reaching critical mass in boardrooms across the country – the issue of executive compensation. Adding fuel to the fire were the recent lucrative severance packages for Home Depot CEO Bob Nardelli ($210 million) and Pfizer CEO Hank McKinnell...
What many see as outrageous or obscene compensation for chief executive officers is back in the limelight after some high profile pay packages lately. The WEF meeting is tackling the issue by asking basic questions: What’s an appropriate level for top managers? Who defines “appropriate” and how? Should a CEO’s pay be linked to the company’s performance? The contrarian view is that there is little or no direct link between pay and performance and coupling the two might be detrimental because CEOs would cut corners to boost their pay, eroding the company’s long-term prospects. (More)
A Belated Return: The breaking news desk blog has returned after a longer than expected absence - upon my return to work yesterday after vacation, my computer somehow fried its innards, necessitating a complete overhaul. As I told my very understanding CNBC.com bosses, the dog really DID eat my homework!
The home improvement retailer said it reached agreement with Frank Blake, who succeeded Robert Nardelli as chairman and CEO this month, on terms of his pay on Jan. 23.
A Superior Court judge Monday denied a request by a group of shareholders of Home Depot to temporarily block the world's largest home improvement store chain from paying former Chief Executive Bob Nardelli any more of his $210 million severance package.
We wanted to hear from you--and we did--as it was your turn on sound off on the pay rage issue that exploded this week after the resignation of Home Depot CEO Robert Nardelli. Our question focused on what the new CEO Of Home Depot--Frank Blake--should make. Nardelli resigned last Tuesday, January 3rd--and left with a $210 million severance package...
The race for the White House is heating up.Today--Democratic Senator Christopher Dodd of Connecticut threw his hat in the ring (he announced on MSNBC's Don Imus Show). That follows formal announcements from former North Carolina Sen. John Edwards, Ohio Rep. Dennis Kucinich and Delaware Sen. Joe Biden, among others. Why so many and so early?
Home Depot shareholders' attempt to block the company's former chief executive from collecting any more of his $210 million severance package has raised the broader issue of what role shareholders should play in setting executive compensation
Home Depot shareholders want to stop the payout package that ex-CEO Robert Nardelli is expected to get. They've filed an injunction to stop the payments all together. So far--there' s no ruling yet on the legal action. Nardelli resigned his post last week--leaving with a rather large $210 million severance deal (including a cash payment of $20 million).
Earnings season is here, and while it can mean harsh reality for some, it’s apparently nothing but sunshine for California Pizza Kitchen. The restaurant chain just reported a 6.9% increase in same-store sales for the fourth quarter. As a result, it’s raising its Q4 earnings guidance. Liz Claman got a chance to talk with co-CEO Rick Rosenfield this morning on “Morning Call.”
Home Depot said Monday its board will require that two-thirds of its independent directors approve any compensation granted to the company's chief executive.
Home Depot's Bob Nardelli's $210 million golden parachute has renewed the buzz about CEO compensation. Is huge CEO pay justified? On today’s "Morning Call" – both sides "slugged" it out. Yaron Brook, President and Executive Director of the Ayn Rand Institute feels that huge pay packages are necessary to attract a top notch CEO.
As many of you know, Home Depot CEO Bob Nardelli was booted yesterday - to a $210 million severance package. If he was an athlete (he actually was a star football player at Western Illinois), that would mean this contract would be the second largest in sports history in total value behind A-Rod's 10-year, $252 million deal he signed in 2000 and that's to play, not - as Nardelli's situation commands - to NOT "play." Including his severance, stock options and salary, it's estimated he made $360 million in six years.
Robert Nardelli's ouster as chairman and CEO of HomeDepot had the full approval of the board, including the man who had been his biggest supporter--Kenneth Langone, people close to the company told CNBC's Charlie Gasparino.