wilkes

I used to watch those Toolbelt Divas on HGTV and then spend hours trying to find a straight 2x12 at Lowes. I never did and Mrs.Crypt blocked the channnel out anyway.

I removed a few posts that were off topic. I'm leaving the previous 3 posts, though, because I believe they were good natured, and now the topic can continue.

Hahah.

Yes, it was me who put them out of business and stopped all new store from being opened. I was a spy working for Home Depot.

What really hurt Lowes was when Riverworks was helping on new store installations.

I've heard several people say that through profit sharing , when they left for whatever reason, they had a tidy sum.

Y'all know nothing about business. It is better to lay off a few to restructure and save the company than to keep those few and the entire ship sink. Those that were laid off were just a drop in the bucket. I hate it for them though. Most businesses do this at some point in their history.

Also, in business, it's about keeping the shareholders happy. Keeping employees happy are not as high a priority. For a company to attain both, that's quite an accomplishment, indeed. But Lowe's clearly isn't cutting that now.

I never have liked Lowes, since way back in the 70's when I moved to Wilkes County. But now, I can't even stand to hear the name. Low-life's at the top.....but what goes around, comes around! They will go under by treating their loyal employees the way they do . *****######!!!!!!

I m not a fan of Lowes or corporations in general but this action by Lowes was just simple economics. Lowes main customers were home builders. People stopped building homes and Lowes lost most of their customer base. So, Lowes stopped opening new stores and started closing others. It just makes good sense to cut back on high paid suits. I know this is bad but it happens. Still, I would wait awhile until I sold my Lowes stock. This action will just cause Lowes stock to increase in value.

Lowes was a great company until it entered the stock market in 1979. As with other companies, after that, they cared more for their stock and the top brass .

Smoker - I think it's quite unfair to call everyone who wasn't let go wh*res. I'm pretty sure promiscuity was a box to check in making their decisions

It sure seems stupid to announce hiring one week and firing the next at one location of a company. But for the individuals talking about Lowes stock. Their stock has beaten most companies for years. It is hard to explain. It could be because they have purchased so many shares back of their stock. But there is no reason for the price to be so high with their earnings reports. Home Depot has been beating them for several years. Their lack of service, and inventory makes customers angry. It certainly has lost its way in the last 5 years.

Shag you are right I probably do hold stock in companies that do the same. But when you know it for a fact (as in you live in the county and know first hand) then my morals had to come into the equation. Money didn't. If it went to a $1000 dollars a share I would not regret it because I know in my heart that I have no hand in cutting people that had been there for 25 years so people that had been there 5 could take their place for less money. The people that had gave their entire lives to this company were not the problem. And to think they called one man at the hospital and told him over the phone is as low as it gets.

I agree that senior management caused the problem and the buck stops at his desk. If adjustments had been made as conditions changed then the problem would not have grown to such drastic measures. I also realize it is not as easy to sit in that seat as most people think. If I was on the board I would probably look at making a senior management change. Of course I don't have all the information needed to make judgment. Lowe's is not the same company we all remember but neither is the Northwestern Bank. The only thing that has stayed the same is the people who are hurt. They need our thoughts and prayers.

When will the board realize it's the moron at the top that is running the company into the ground. Get rid of him and the stock will rise.

What else could they do? I realize the emotional trauma associated with dismissing employees but sometimes it is necessary. Reducing layers of management is never an easy thing to do. Do you ever think about the manager who has the job of terminating friends and long time working friends? Can you imagine what kind of day it was for them? I realize the hurt and disappointment a 30 or 40 year employee must feel. It is like the 60 year old grandmother taking pot roast to the family reunion every year and lots of the older folks expecting it. But suddenly the new generation stops eating it and ask for flatbread and cheese. Will it be easy for the older citizen to modify her cooking habits to meet the appetite of the children. No, but things change and life goes on. My advice for seeking employment for any large company is: Be thankful for the $150 thousand dollar a year job, work like you are being paid $200 thousand and live like you are making $20 thousand. Be prepared for a rainy day and never let them see you sweat.

Pcred2 (view profile)

Posted 7:55 pm, 02/21/2017

If you own any publicly traded stock then you still hold stock in companies that do likewise. Selling your stock today was a bad investment move because Lowes will go up in the coming days. Increasing sales or cutting cost looks the same at the bottom line. There was a lot of waste there and when times were good their profits could adsorb it but that's over. I hate it for the workers but this is the way capitalism works.

I am a very happy stock holder. I sold every share I had in Lowes today. I don't need to have stock in a company where I know for a fact they treat their employees like this. I won't have any part in it. So you could say I am a very happy stock holder now. Just not theirs. Now I do still have some in Home Depot. And before you say I must be a former employee. I have never worked there nor never would.

Fare em All !!!

Fare em All !!!

LLM !!!

You are absolutely correct.