Tuesday, May 11, 2010

Bernie got fingered

Posted By on Tue, May 11, 2010 at 8:22 PM

Michael Powell invented a gizmo that protects the fingers of people using radial saws - the kind you'll find in the lumber department of every Home Depot store.

When Powell tried to sell his invention to Home Depot, they refused. Instead, our Atlanta-based Homeys copied his gizmo put in all their stores.

Today a U.S. District Court judge in Florida ordered Home Depot to pay Powell $3 million for stealing his device. That's in addition to the $15 million awarded to Powell by a jury. When you add in legal fees and interest, Home Depot's gonna pay roughly $25 million for taking Powell's design.

If Home Depot had simply purchased the device from Powell, they would have paid just $4 million.

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