Couple of news items that really bugged me over the last few days…

Item: Home Depot announced that it was closing down 15 locations and shelving plans for 50 more that were to be built. This, I understand, is the first time they’ve ever had to close a store and not open a new one nearby. Home Depot is having trouble due to the shaky economic conditions…folks don’t do home improvements when they practically have to take out a loan to buy gas. Now, to me, being the simplistic pragmatist that I am, this news sounds bad if I’m an investor in Home Depot. Things aren’t going good when you have to shrink your business. However, apparently, the investment community disagrees with me. Home Depot’s shares went up 5% on the announcement. Why? Well, they were going to be cutting jobs, which Wall Street loves to hear. Is it me, or is that sort of bas-ackwards? Whatever happened to new of success causing a stock to rise and news of failure causing a stock to fall? We’re banking on failure, folks…and I think that’s a shame.

Item: U. S. Senator Arlen Specter (R-Heinz Field in Pittsburgh) has decided that he’s not satisfied with the National Football League’s investigation and punishment of the New England Patriots in the “Spygate” scandal. “Spygate” involved the Patriots taping signals from coaches of opposing teams to their players on the field…a no-no by league rule as well as being, well, unsporting. The NFL whacked the Patriots for doing this. Specter, a fan of a Patriots’ rival, the Pittsburgh Steelers, thinks that fining the Patriots coach $500K, the team $250K, and taking their first pick away in the last college player draft just isn’t good enough for him, and is calling for an investigation. Look, I don’t know whether the punishment was enough or not…but hey, Arlen, how about a little investigation of how the oil companies are killing the economy with $4 a gallon gas while scoring record profits? If I hear one more story about Congress investigating a sports issue (and the other proposed investigations are into the college football bowl system and the steroids problem in Major League Baseball) I am going to write in Terry Bradshaw for every office I vote for until he wins something, which will never happen, since Terry is smarter than most politicians anyway. It makes me cringe to think that we’re guaranteed that a sitting Senator will be our next President. :::sigh:::