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Non-Tech : Home Depot (HD)

HD 373.81

-2.4%

Nov 5 3:59 PM EST

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To: David Lawrence who wrote (1003)	8/22/2002 1:06:24 PM
From: Don Earl	Read Replies (1) of 1169

David, I'll refer you back to a previous post: Message 17782085 <<<"The outsourcing agreement allows Home Depot to partner with the largest global provider of consumer credit." Get it? CCS provides the credit. HD provided the customers and sales. The current provider is the consumer credit division of GE Capital.>>> I love the intuitive leap you make from "outsourcing agreement", to "CCS provides the credit. HD provided the customers and sales.". How exactly did you determine the terms of the "outsourcing agreement"? The semantic content of the link you posted is virtually nil. A lot of the usual, "We're tickled to death about yadda, yadda, yadda.". Otherwise, there isn't a single word about who does what to who, and who gets paid. The terms of the agreement are not disclosed anyplace and you are just plain making things up as you go along. The filings do state that HD has a portfolio of the loans and enters into hedging contracts against the portfolio. At 21% interest, we're talking about the bottom of the sub prime barrel. In the current economy, the default rate on sub prime credit is running around 17%.

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