Home Depot Forced To Drop Sale Price Of Commercial Supply Business By $2 Bil

New York Times:

Home Depot was forced to drop the sale price of its commercial supply business by nearly $2 billion yesterday, according to people involved in the negotiations, one of the first big buyouts to be renegotiated as a result of the recent tightening of credit and problems in the housing market.

The refashioned deal cut the sale price roughly 18 percent, to $8.5 billion. Because the deal relies heavily on debt, investors and bankers have been watching it closely for signs of how new limits on credit could affect other large buyouts that are still pending and are worth nearly $400 billion collectively.

Read the whole story: New York Times

Comments

[AceInTheHole]

10:04 AM on 08/27/2007

It has long been said that "there is no honor among thieves!" Now they are starting to insidiously canabalize themselves, trying to out steal each other blind, along with the rest of us. Greed has matastasized so profoundly, until it is begining to eat and devour it's purveyers, just as it was predicted to do by the Lord.

"What is a man profited, if he shall gain the whole world, and lose his own soul"

Sadly, now it seems that many souls are being proffered to the devil for less than a penny a dozen at wholesale and the devil is reaping windfall and unprecedented profits at the expence of these poor misguided souls,who have not yet awaken to the fact that they have been played like a fiddle and pimped like a two dollar steet walker by the devil, while he smiles and counts his miscreant increase in lost souls, while he shakes his finger at the Lord and says, I told you I'd steal them from You and from having a wonderful life in heaven ONLY TO HAVE THEM COME AND LIVE A HORRIBLE LIFE WITH ME BECAUSE I FOOLED THEM INTO REPLACING YOU WITH THE LOVE OF MONEY IN THEIR HEARTS TO THE DETRIMENT OF THEIR SOULS. HA HA HA