Link to the Show / Show NotesThe Nums: Home Depot, now run by a former GE exec and Jack Welch acolyte, had net income of almost $2 billion for the quarter, plus 14%. The plywood supplying king has opportunistically boosted inventories in expectation of a very active hurricane season affecting its stores in the Southeast U.S. and Mexico. And those self-checkout machines are doing the trick-- freeing up more employees to help gadget guys and gals full-time.
Steakholders: RuthÃ??s Chris Steakhouses went public, the largest restaurant IPO since Domino's Pizza went public in July 2004. They have 88 artery-choking inns across the land, and raised $235 million. The stock was gobbled up by hungry investors, coming out at eighteen bucks per share.
Apple Gaffe: Apple foolishly allowed Microsoft to win a key patent relating to playing music in a handheld device. By five months, that clever Bill Gates beat the iPod inventor, and now Apple either pays royalties or Microsoft makes its own music player. Apple has three months to wallow in melancholy before they must appeal their patent rejection.
Sign of Hope: The New England Patriots have sold naming rights to their indoor practice facility. A wealthy businessman, Jack Blais, put up $15 mill, and has donated the naming rights to the Dana-Farber Cancer Institute. Blais' gift comes 15 years after his uncle was diagnosed with cancer at the base of his tongue, and Dana-Farber docs nursed him back to health. Blais made most of his money in optics.
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