Now that they know which stores did well for the holidays and which didn't.
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Marvin was swept in and Niblock was swept out by Shaw and the majority shareholders. They like the share price but keep in mind it hovers around $120 and is still usually $100 below Depot.
Underperforming stores are always under threat of possible closure. Get your sales up, make budget, and you have nothing to worry about.
target endured this same attack from within. same exact hedge fund players were involved too.
http://www.startribune.com/ackman-sells-his-target-shares/121994259/
as you can see...marvin is truly their puppet. has already abandoned needed tech upgrades for share buybacks. heck he has put more debt on lowes back to do share buybacks....another thing that should be illegal in this country!!!
lowes owns alot of property. as soon as you hear marvin proposing to sell the land...and if they succeed in doing so.....its over for lowes.
past time we start putting men like ackman and marvin in prison. theyre present day pirates. doesnt matter whether they wear a fancy suit or an eye patch and peg leg...they only exist to steal and destroy
Marvin is CEO, chief executive officer. The CFO, chief financial officer, of Lowe’s is David Denton.
You are correct, Marvin is gone as soon as he has done his master’s bidding. By then what will be left of Lowe’s?
lol marvin has zero power to sell anything to amazon. hes chief financial officer. in a lot of ways hes nothing more than an employee himself. hes just the employee that can make the rest of the employees lives hellish. lowes still wont even give him the president of the board position that niblock held! if i had to venture a guess as to why...its because the board of directors at lowes knows marvin is a shareholder puppet.....now so long as he makes the board money theyll overlook the problem standing in front of them...but i imagine as soon as he loses them money the board will have the ammo needed to remove him.
Marvin wants to sell the stores to Amazon for local distribution and pickup. In return, he gets a nice retirement and Amazon stock.
I think corporate wants the stores to close cause how can you explain customers packed in the stores and you'd be lucky to find one associate every two departments every day I can count at least 20 people that leave because they don't wanna wait 50 minutes for help