'Nightly News' Praises 'Victory' Over Home Depot
Eighty people in a
The Home Depot (NYSE: HD) recently announced it would close 15 of more than 2,200 of its stores because of their failure to meet earnings targets. One of those stores is in
âItâs not surprising that long-time residents, like John Morse back at the Ace [Hardware] store, collected thousands of petition signatures opposing Home Depot when it arrived four years ago and are cheering now because itâs closing,â Taibbi said.
Two smaller hardware stores, Ace and True-Value, stayed in business to compete with Home Depot when it opened its store, and the family-owned businesses are celebrating what they hope will spell the end of their âlong, flat earningsâ now that residents will have to get their hardware from mom-and-pop shops.
Taibbi insisted that âno oneâs cheeringâ the fact that 80 employees will be out of work after Home Depot closes. Nonetheless, he featured two residents who did cheer the departure.
âPeople are going, âYes, yes, yes, we did it!â Morse said.
âHereâs a hometown True-Value that outlasted the big box store,â said Glen St. John, owner of the True-Value. âThatâs exciting.â
âNightly Newsâ anchor Brian Williams called it a âgreat storyâ and Taibbi himself called it, âin a man bites dog sort of way, an unlikely survivor story.â
But not everyoneâs as excited to see Home Depot go as Morse,
Taibbi only included one disappointed shopper who wasnât even identified. âHome Depot was the one place you could really go when everybody else was closed,â said the unidentified man.
âNightly Newsâ isnât the first network to wax nostalgic about mom-and-pop stores, or to portray them as âDavidâ battling the âGoliathâ of large, successful chain stores. The media routinely side with small businesses and against large ones. They paint big businesses as bad, failing to point out the