TheStreet.com’s Marek Fuchs critiques the profile of new Home Depot CEO Frank Blake in the latest issue of Barron’s and comes away with the impression that it’s a story that would have been right at home in the 1990s, when business journalists were making rock stars out of CEOs.
“Enter a Barron’s puff-file of Frank Blake, the new chief executive of the embattled Home Depot. And let The Business Press Maven say, Blake might be a good, modest man. He might even, like Mother Teresa, one day be put on the fast track to canonization.
“But all that matters to investors is, in very specific terms, what he plans to do to turn Home Depot around — and in a troubled housing market, no less. That’s why a storyline built around a worshipful single anecdotal lead about how a current leader is a good guy — and so unlike the last guy — can mislead investors like little else.”
Read more here.
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