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#45 Built From Scratch: How A Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion
Founders
Home Depot - The First Big Break
Rip Fleming was fired from his job as a banker at the Home Depot. The bank had turned down Fleming's request for a $3.5 million loan three times. "I realized that I had no choice and tore up the envelope containing Rip's letter of resignation," Flamsim says. A truckload of 3,000 fireplace screens were ordered by Montgomery Ward but later canceled. That decision led home depot to make its first big break in business.
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