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OfficeMax Incorporated Message Board

  • officejock65 officejock65 Oct 1, 2004 6:57 PM Flag

    This board is a joke

    And I'm not talking about Mr. "I know the truth" (you should go back to watching Star Trek, loser).

    Actually the joke is that Legalbark and Mr. Spinoff seem to be agreeing with eachother just a little bit too much, in fact it seems you are the same person posting under different user names. Good luck trying to "pump and dump" this stock buddy, BCC isn't going anywhere but down.

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    • To restate the facts (also see post #1811):

      There are 2 scenarios, briefly...
      1. A $10 special dividend which will result in a 2005 EPS of $2 making a normalized share value of $32. The return would be approx. 30%.
      2. A 30% buyback resulting in a 2005 EPS of $2.80 with a normalized share value of $45. The return would be approx 40%.

      Office supplies is an industry of average prospects. Suprising to many on this thread is the fact OMX same comp sales is almost equal to SPLS while ODP is negative. This is additional confirmation that the restructuring is most likely to be successful.

      This is SOLELY a VALUE - not a long-term - play.

    • There was a post by legal regarding his investment strategy earlier in the week, I even commented on it as excellent advice...it is relatively sophisticated but it is also quite correct,he additionally pointed out that as a long term investment he was not sure about office supplies and what I took to be his reservations about the growth prospect of the new entity...I would add that the deal and related financing of the bcc/omx merger is sound and will imo positively impact the share price up to about 40 or so...
      HOWEVER,the organic GROWTH track record for BCC and OMX in executing plan is problematic long term..when the benifits of the merger and its financing are played out(synergies in purchasing for example,value of asset liquidation/debt reduction,sales,admin,ops redundencies elimination)there is going to still be the business problem of GROWTH...We are NOT on this board anywhere,as far as I know, talking a GROWTH story...this is a VALUE play.

      I have deep reservations about the current management/culture of BCC/OMX to grow the business as Depot and Staples have done(just look at their respective track records).But this merger is a good one(does anybody remember how ODP and SPLS tried to merge about 8 years ago and the justice department nixed the deal...?).

      No one is pumping BCC...pumping almost always has to do with the "GROWTH"prospects of a company.No one is or has said anything about BCC growing the business because I dont think they have that kind of culture or that kind of management(in fact I think after this deal is done there is a strong possibility they will be bought out by BT,SPLS or ODP especially if Bush is reelected)

      So unless you can show how the value proposition legal has advanced is wrong, which I for one would invite, I can only conclude that Legal has done his homework and you havent.I look forward to your response
      JMHO

    • Welcome aboard Officejock. We haven't had a basher before and what's a Yahoo message board without a basher or two? I'd be interested in knowing how you found this board since you obviously don't own any BCC and know nothing about it. I guess this qualifies you to be our resident basher. I take as a compliment your suggestion that I am a "pumper and dumper". Today over $88 million of BCC traded on the NYSE. I only wish that I had the resources to have any affect on those transactions. Frankly, I plan to hold my positions through at least November and will reassess at that time. Again, we've had our non-believers and weirdos, but you're our first basher. Welcome aboard!

 

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