Gwinnett Daily Online's "Small Business Person of the Year" Title Awarded to Mike Shelton of ML Shelton Enterprises for 2007

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The proud, yet humble, 6' 6" tall father of two, grandfather of three and husband of over three decades, was awarded the title of Gwinnett Daily Online's "Small Business Person of the Year" for 2007.

Mr. Shelton has spent the better part of the last three decades raising a son and a daughter and running various businesses that he established after having served a full term in the US Navy.

Mr. Shelton has since sold many of his business interests, all of which have been based in Gwinnett County, and participates in the day to day operations of his virtual business "ML Shelton Enterprises, LLC" when he's not playing golf.

Mr. Shelton was singled out and awarded the title because over the years, he's stood out in a world that values a company’s bottom line over anything else, at just about any cost.  As his entrepreneurial spirit has taken him down many roads, which have forced him to make decisions - he's never chosen to exploit any of the common shortcuts that others in similar positions have taken.   He has consistently and consciously chosen to sacrifice higher short-term benefits for ones that yield greater returns in the long term. 

For those who don't know Mr. Shelton, it might be a lesson in putting in a hard day's work, for an honest day's pay but those we've spoken to that have known him for over a decade put it differently.  They call it "An important lesson in integrity - and nothing less."  It's a lesson that many, if not most people with the "entrepreneurial spirt" can't give, but can only talk about.  But they can talk about Mike Shelton, because he's obviously a natural.

Performing the task at hand and executing it as though he was setting an example for others to follow - has always seemed to be his highest priority, and that is what makes him a true leader.  It's also what makes him Gwinnett Daily Online's "Small Business Person of the Year" for 2007. 

He and his wife take advantage of every opportunity they can to baby-sit for their three grandsons - even if it's at the expense of an opportunity for Mike to play golf.

Our hats are off to Mr. Shelton, his family and his company: ML Shelton Enterprises, LLC of Duluth Georgia.

The company currently specializes in the sales and installations of medium to high-end vinyl replacement windows and Mr. Shelton is considered by many to be one of the best in the field.

The company exists physically in Mr. Shelton's basement because the windows they sell are all custom manufactured to order - according to each homeowner's specifications - so there's no need to warehouse.   And through the use of today's electronic gadgetry - appointments are made directly with the window specialist and are programmed into his electronic calendar.

Congratulations, Mr. Shelton - Gwinnett Daily Online's "Small Business Person of the Year" for 2007 and thank you!

RELATED STORY:
Home Depot Cuts Expansion Plans & Begins Closing Stores

ATLANTA - With its sales and profit battered by the declining U.S. housing market, Home Depot Inc. said Thursday that it will reverse new-store growth, abandon plans to add 50 U.S. stores in its pipeline to save cash for existing stores.

The Atlanta-based company also will close 15 U.S. locations, less than 1% of its store count, deemed not performing up to expectations.  Atlanta based Home Depot, Inc., the world's largest home-improvement retailer will take charges totaling $586 million, most of which will be recognized in the first quarter of fiscal 2008.

Excluding the charges, Home Depot said full-year profit per share from continuing operations is expected to drop 19% to 24%, in line with the company's prior forecast. Analysts have been expecting Home Depot's profit for fiscal 2008 -- ending Feb. 1, 2009 -- to decline to $1.77 a share from $2.27 a share last year, according to an average of estimates compiled by FactSet Research.

The reiteration of the forecast "is a modest positive, given the challenging backdrop," said Goldman, Sachs & Co. analyst Matthew Fassler.
Home Depot and rival Lowe's Cos. have been hurt by the weakening credit and housing markets that has cut into demand for their building and home-good supplies. In addition to scaling back store growth, Home Depot has said it would slow the pace of buybacks under its $22.5 billion stock-repurchase plan amid market uncertainties.

"This is a rational move," said Stifel Nicolaus analyst David Schick, who has a buy rating on the stock. Home Depot, he said, is "ahead of the curve for what the retail industry will be doing in the next decade."

Home Depot has been trying to increase its store productivity through projects such as improving customer experience, better showcasing merchandise and remodeling stores with cleaner floors and better lighting. The move came about after Home Depot had lost market share to Lowe's.

Home Depot's shares rose 4.6% to $30.13 in midday trading. Lowe's saw its shares jump 5.2%.
Other major retailers, from Wal-Mart Stores Inc.  , are also reining in their expansion plans in the face of a myriad of economic worries that have cut into consumers' budgets.

Kohl's Corp. (KSS:Kohl's Corporation News, chart, profile, more  said Wednesday its goal of reaching 1,400 stores by 2012 will take longer than expected. Earlier this year, it said it plans to open 70 to 75 new stores in fiscal 2008, down from 90 previously planned and 112 opened last year.

Revitalizing the store base Home Depot will reduce its capital spending devoted to new stores by about $1 billion over the next three years. It still plans to open 55 new stores during this fiscal year, including 36 in the U.S., with capital spending declining 36% from last year to $2.3 billion.

Beginning in fiscal 2009, it plans to expand square footage by about 1.5% a year as it opens 30 to 50 stores a year, with as many as 30 in the U.S., spokesman Ron DeFeo said in an interview. Analysts had estimated square footage growth of about 2% or more.
"It's the continuation of our plan to invest in our core retail business," he said. "We are reviewing a handful of the stores."
About 1,300 jobs will be affected as a result of the 15 store closings, which represent less than 1% of the company's 1,970 stores in the U.S. Home Depot also has 288 locations overseas.

"This decision would seem to put to rest investor fears that (Home Depot's) expansion into smaller markets throughout the housing bubble may have led to growth into markets that would prove unsustainable," said Colin McGranahan, a Sanford C. Bernstein & Co. analyst.
The locations to be closed include some in Wisconsin and New Jersey.

In January, management said it was cutting 500 positions, or 10% of its headquarters staff, to lower costs. It has also slowed the pace of growth in advertising spending. 

Maybe this is a regional problem, because in St. Louis, I find just the opposite. Not that I am never needing some help, I generally know where to look, but at Lowe's the bin of what you thought would be readily available is empty. For the love of...