Acquired · Sep 13The Home Depot: How America's aging houses built the best stock of the last 45 years
A 130,000 square foot warehouse piled to the ceiling at prices shoppers had never seen. Due diligence showed it was insolvent with unpaid suppliers, so the founders hired Farrah as merchandising cofounder, and he later gave its investors Home Depot shares.
Tips
- Bernie Marcus and Arthur Blank built Home Depot on a specialty retailer's service, not just low prices▶ 1:26:00Builder Square, Home Club, Homequarters Warehouse and Mr. How Warehouse all copied the format in the 1980s and none exist today.
- Marcus and Blank brought Pat Farah onto the founding team after his insolvent rival store failed due diligence▶ 55:00Farah later gave Homeco's lost investors Home Depot shares to make them whole.
