If you look at the GE and Home Depot charts since Jack Welch left, HD has actually outperformed GE by a bit. That is not taking into account dividends and GE’s Genworth spin-off, but the chart would show that during most of that period from September 2001 onward, Home Depot was well ahead.

It raises an interesting question about Nardelli’s dismissal, since GE is still considered one of the best run companies in the world. Very few people like Nardelli, but, if he stayed at GE as the CEO, maybe that stock would have done a bit better. At least he would have been in his environment.

Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.