Business Career
Following his NYU graduation, Langone began his business career. After some time, his launching pad was the IPO deal he set up for Ross Perot's company Electronic Data Systems.
Building up his experience over the next decade, Langone began to study the home improvement business and eventually bought stock in Handy Dan, a home improvement chain. This led to a relationship between Langone and both Handy Dan CEO Bernard Marcus and CFO Arthur Blank. Although a minority shareholder, Langone effectively protected Marcus from issues that arose between Marcus and Sanford Sigiloff, the CEO of The Daylin Corporation, Handy Dan's parent company. Marcus, however, felt that if Langone sold his interest in Handy Dan, it may actually improve his relationship with Sigiloff. Shortly after Langone sold his Handy Dan stock both Marcus and Blank were fired. Langone organized financing for Marcus and Blank to found Home Depot. Now a national chain with over 300,000 employees, it is Langone's most notable business venture.
Read more about this topic: Kenneth Langone
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