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Another result of the housing Market Correction
 
Based on an article in the Atlanta Journal Constitution this morning, February 1, 2008, The Home Depot announces a layoff of 10 percent of its Atlanta headquarters.Roughly 500 of the 5,000 employees here were told by their managers that they would be let go as part of the company's response to a chill in homebuilding and a slowing of the overall economy."We have been pretty clear that we are operating in a tough business environment," said corporate spokesman Ron DeFeo."We see that continuing in 2008."
Comments on the latter:
During the housing boom, Home Depot had explosive growth and even added a Home Depot Landscape Division which closed its' doors in Novemeber of last year. 
 In my opinion the latter  is just another result of continued massive building during a time when many ARMs of all types were beginning to come due and reaching levels not maintainable by many home owners. Why didn't the building industry see this coming...trust me, they did!  They chose to turn their heads and look the other way  hoping to God and pocketbook that they would not get caught in the midst of the down turn of the housing market.
 Guess what?...ARMs did come due, even those ugly Libor and Option Arms! UGHHH!!!
The resultant ... more

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