Folks where there is smoke there is fire, investigation going back to 2003 which will of course involve asking questions of the management of OMX prior to its "merger" with Boise. Now what ever happened to that old CEO? Ethical management starts at the top; if it is not there the organization will follow this lead.
Boise management had no idea of what running a retail business entailed before they acquired the Max and sure don't now.
This is a risky stock with a history of poor management, an inability to execute, lousy return on equity and two competitors that dwarf it with their financial size and business acumen. The executives at Staples laugh daily when they read the amusing reports out of OMX. The guys at Depot, while not of the same caliber as Staples also chuckle when the Max comes out with its �spin� because they know they have better merchandising.
Look for more heads to roll and an SEC investigation.