Home Depot (HD) Message Board

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Non-Tech : Home Depot (HD)

HD 369.07

-1.3%

3:59 PM EST

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To: Don Earl who wrote (957)	7/20/2002 11:29:40 AM
From: David Lawrence	Read Replies (1) of 1169

Oh yeah, I forgot this: >The recent $2 billion buy back announcement doesn't make much sense other than for hype value. If their budget is so tight it's necessary to cut essentials like inventory and staff, why spend $2 billion on stock with a par value of a penny a share? What on earth does the par value have to do with anything? If you reduce the share count, it accretes the value of the company to the remaining shares. I agree with you that the announcement of the buy back authorization may be more hype than substance, but there is nothing wrong with a company that uses their excess capital to buy back their own shares, especially a company with such an exemplary record of organic growth such as HD. Oh, and the par value is $0.05, not $0.01. :-)

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