New Depot CEO On The Road

Former General Electric Power Systems president and ceo Robert L. Nardelli has been appointed president and ceo of Home Depot.

Nardelli. 52. succeeds Arthur Blank, who will join co-founder Bernard Marcus as a co-chairman.

A 26-year veteran of GE and runner-up in the race to succeed chairman and ceo John F. "Jack" Welch Jr., Nardelli said he plans to preserve Depot's entrepreneurial spirit, but would like to install more "commonalty" in the operation. "Otherwise, it's organized chaos," he said, adding, "There is infinite capacity to improve on everything we do."

While some analysts praised the apppointment and commended Nardelli for his ability to help boost GE's profits and make the firm more efficient, others wondered if his lack of retail experience would be a tough hindrance to overcome, and whether his hands-on management style might irk store employees.

The new boss was quick to point out his familiarity with GE's lighting and appliance products that are sold in Home Depot's stores, and said he would not hesitate to consult Blank and Marcus, labelling both men "icons in the retailing business,"

Analysts say one advantage of Nardelli's background is his experience in global acquisitions, which is sure to come in handy as the chain expands from its current 1,087 stores to over 2,300 in the next four years.

Nardelli and Marcus are in the midst of a proposed two to three month store visitation tour, during which the new ceo plans to walk the aisles and meet with store employees.

Hardware Show Scales Back

Determined to retain past exhibitors and visitors as well as attract new companies, the National Hardware Show and Building Products Exposition have been trimmed from four days to three.

The combined shows will run from Alg. 12-14 at Chicago's McCormick Place. "Until this year, the fourth day was open from 9 a.m. to 2 p.m. with the floor population traditionally less than the three days before. Research showed many industry professionals spent the fourth day traveling," said spokesman Dennis MacDonald.

To further help exhibitors save

"Home Depot is a good indicator for a consumer recession. This indicates the Federal Reserve better start cutting rates fast and furious. This is for the Fed to fix, not Mr. Nardelli."

- Peter Caruso, Merrill Lynch Global Securities. on Home Depot's first quarterly earnings decline in I5 vears money, show decorator Freeman Decorating is introducing new booth package options and reducing overtime charges on outbound material handling. Other changes include addition of an on-site Buyers Lounge, an enhanced conference program, and early morning hours for the Lakeside East Building.

For an in-depth look at the upcoming shows, see the special, full-color "Expo Preview" supplement in the July issue of The Merchant Magazine.

Timher Conseruatian lhroagb Wood Preseruation

Since 1971, the goals of Western Vood Presening Co. have always been to provide top quality products and services at competitive prices to customers who share our appreciation for high standards. Our environmentally compliant, stale-of-the-art, Osmose desigred treating plant uses the latest in computer process control technology. In this unique industry, our word is our honor and our goal is to make dealing with Westem Wood Preserving Co. a pleasurable experience.