This is a call out to true employees to open up and share what is actually going on in their areas. Now, how many of you actually work here? Raise your hands now, we know who you are. You can tell the salesreps from the casual investor. I am both, so I speak from experience.
I bought in at $40, probably believing it couldn't possibly go much lower, and maybe the big boys knew what they were doing. There was actually talk of getting rid of the bloated sales management (think MSL) and getting down to business. Naw, should have known better. Every new VP that comes in is overwhelmed by the good-old-boys network that holds on to their washed up careers with an iron grip, and finally leaves after 2 years before their career is ruined.
What do I think...I hope they get their @#$% together, because I like what I do. But as long as we are seen in the employement world as the 'hire of last resort', we will never bring/retain the sales force necessary to be successful. (In other words, ask yourself why they always hire from the copier/cell phone world. Nuff said). That is just the cold-hard truth.
Repeat ater me: ...There will be peace in the valley for me...
Looking forward to getting called out by the kool-aid drinkers; bring it on.
Gee Joel, OMX retail floor clerk in Denver, you disappoint me. First you stated "I refuse to respond to their usless, childish banter anymore." and then you go on and keep responding anyway. Responding with your hatred toward OMX, myself, NoMoMax, etc... and then accusing others of being "Haters."
Yeah... you bought 10000 shares at 11.16 huh? Sure... What a wise "investor" you must be to buy a ton of stock in a company and then go bashing that company over and over again on a message board. That's sure to help your investment huh? I love it when retail twits get on these boards and then go bragging about how they bought a million shares of this or that and how they make more money in a day than everyone else makes in a year. It's usually their final defense when they know they have nothing substantive to say. I gave you a dozen reasons where OMX is going wrong. NoMoMax and now BabyBoomer as well (Thank you BabyBoomer - brilliant synopsis of the state of OMX's failing I.T. world!). All you can spew is hate and wishful rumors about your Lyreco fantasy.
Why don't you give us some real examples (surely you've found many in all your investing "research" that you brag about) where OMX is doing something right. Tell us specific top down initiatives or programs or consolidations that OMX is implementing that make this a wise investment.
Problem is, there aren't any.
Back to the register Joel. Store's open late tonight.
I have read all of your threads and I don't understand why you equate everything negative said about OfficeMax, as coming from a disgruntled employee. Actually most of the truth on this message board that I have read, has come from these sources and the only disgruntled employees are the ones still there.
Does the opinion of an ex-employee make the stock go up or down? I doubt it but the truth of it is, that in an atmosphere where the people who really make a difference, are shunned and “Who you know,” means more than “What you know”, this can only hurt a company long term wouldn’t you agree? After the initial purging and downsizing and righting the ship, who is left to make that difference moving forward when all things are equal with your competition? Who provides that energy? The guy who kissed ass to make VP or Director? I doubt it.
But is this all the fault of Sam? Probably not-this goes all the way back to when the merger idea was hatched and you have to hang this on Boise Corporate and some of the decisions that they made back in 2003-04. Some of these decisions were just horrendous especially the WWE CIO that they tapped from Shaker Heights. Till this day they have never had a CIO with a vision and after years of trying to implode their mainframe for the AS400 and Unix (SAP), they now have decided to upgrade their version of Z-OS. Unlike a lot of successful merged companies, rather than leveraging their core technology platforms and having them interact, they have wasted millions trying to find one package that could replace all of their needs without factoring in if this was even feasible.
Could all the custom code written for all the multi-million dollar accounts on Contract be done on SAP right out of the box? Not!
This is probably one of the biggest reasons that they have struggled internally to find any momentum. They have not had a CIO that could ever come up with a plan to integrate the Web, Retail, Contract, Inventory Management and Supply Chain using the best of what they have today without bankrupting every other initiative. Had they not wasted all this money here maybe they could have come up with their own “Easy’ button strategy on TV and on the Web.
But enough of that, I still think there could be a glimmer of hope if they can partner with a strong global player that has the savvy to whip all of these disparate systems into something that could serve all of their sales channels and dare I say maybe move up to # 2 at some point? I really hope so as I still know many people here and for their sakes and not the big shots, it would be nice to see the people who really make a difference have a company they can be proud of again. There was too much ego in this merger initially and if they can get beyond that you never know.
I bought 10,000 shares at $11.16 a couple of months ago becuase I thought this stock hit bottom. It closed today at $13.75. That means I made $25,900 so far, or a 23.2% gain. I think I'll let it ride a little longer because I think it will go even higher.
You go to work every day at a company and job you hate. I spend 2 hours at my computer and make more money than I know what to do with.
Who's a buffoon?
Get lost loser...
I said I have been as critical as anyone about Omax and I also said I don't mind criticisim when it is constructive and doesn't come from a slant of hatred like gregbeel and nomo have. I refuse to respond to their usless, childish banter anymore. Neither one of them will ever get it.
Again, stock rule #1, buy low, sell high...
This stock has bottomed out and will increase. The turnaround is complete and sales will grow as they add and grow new products and services (Impress, MPS, Furniture, Tech support, etc.). Staples/CE merger will keep them static and I hear Depot stock is so low it is offerering a unit for every stapler purchased. Staples/CE merger has canceled the Lyreco/Staples partnership as CE alreacy has a European presence. Depot legal problems make them poison. Lyreco in due diligence with Omax as we speak. Take it or leave it.
Thank you. I guess some people out there are so in the dark they have no idea what is going on so they resort to personal attacks and name calling. Like I said, I'll see you in '09. I'm only calling it how I see it playing out, having been in the industry since this kid was in diapers. Doesn't make me a hater, unless you don't like hearing the truth about what is going on. The proof is in the stock price, not some yahoo message boards going back and forth with ignorant little punks. Good Luck, you're on your own from here.
I suppose OMX offering geek squad service (another "last man in" attempt to copy it's competitors)was the reason Staples and Depot stock jumped too.
At least nomomax takes a consistant stance. Unlike you who's a hater one week and a licker the next.
Get back to the register Joel. Those folks in Denver need their 1 cent protractors.
"If OMX is such a terrific company, why is the stock at $12 bucks?"
You hit the nail right on the head NoMoMax. Why's everyone dumping OMX and buying Staples? Same reason they dumped Circuit City and Blockbuster.
Last one out, be sure to turn off the lights...
JoelMama... you are a total buffoon. On July 11 you started a thread on the OMX message board titled "Unqualified Leadership" where you yourself made the following "hater" statement about OMX:
"The unqualified leadership has finally caught up at OMX and now they are at a loss at hoe to right the ship. Sam D and Sam M will jump ship with big separation packages and the lineup behind them is no better. This company has way to much infrastructure overhead then a basic distribution service and retailer requires. They have more levels of sales than anyone could think is possible and most never face the customer. Harry D is responsible for much of this and I'm surprised he was smart enough to get out. His followers will keep drinking his koolaid until it's too late. Get out now."
You also posted on July 25 the following:
"Has anyone ever seen anyone buy enough stuff at an OfficeMax store to warrant them having carts? I think 1 or 2 carts per store is sufficient. They can rent the old cart area to a hot dog vendor for income."
So how do you make a statement like that and then accuse others of being OfficeMax "Haters?" You seem to have a pretty harsh view of OMX yourself and have strongly supported both my views and the views of NoMoMaxIn08 in the above mentioned threads along with the "OMX Death Watch" thread where you brilliantly stated: "Too many managers managing managers who manage managers. All of the managers make more than those who are supposed to sell and add nothing. Those that are supposed to sell either don't or don't know how. Those that try to sell have problems competing due to the margins necessary to support all of the managers who manage managers who manage managers. Sam and Sam concentrate on retail with no clue about contract. Contract is left in hands of incompetent individuals who were promoted too often and too high through favoritism. If they had any sense, they would go back to sales reps, sales managers and a general manager at each location to remove the split between operations and sales that all too often leads to contrary goals."
The fact that you seem so in tune with OfficeMax and that you only post on the OfficeMax board, leads me to conclude that you do indeed work for them and that your self proclaimed investment career is limited to transferring money in and out of your OMX 401k. If I'm wrong, perhaps you could point us to your wealth of investment advice that surely you've posted regarding other companies on these boards? I'll bet you thought Circuit City was a steal at $5 or Blockbuster was a bargain at $4. OMX is far more likely to follow CC, BBI and other retailers like Linens and Things, Mervyns, Levitz, Sharper Image, etc. who are stuck in (close to) last place in an oversaturated retail segment.
Now maybe your DSM or Store Manager or whatever told you OMX is going to partner with Lyreco. Sure... OK I guess maybe Lyreco would be willing to give up its current NA presence and partnership with Staples to buddy up with a failing distant third place OMX. Yeah. Equally as likely, and just as good for OMX, maybe the Cuban government will repay the billion or so debt that OMX inherited from BCC.
Yup. I'm a hater too. Count me in with NoMoMaxIn08 because his posts are right on. Your other posts bashing OfficeMax were right on too but don't go criticizing them one week and then calling other people "Haters" the next for agreeing with you.
Now go out and get that Lyreco tattoo with all the money you made on OMX today...
nomo adds nothing to this message board. He is not an investor, just a hater with an agenda.
I don't have a problem with people who make poignant remarks good or bad about any company, but nomo just sits at his computer searching for negative posts against Omax so he can reply "right on" or "good point". Whenever he is challenged, he fumbles through an incoherent response. He's sad and useless and is right to be ashamed of himself.
Did you see where Omax is adding home and in-store tech support to their offering? Stock jumped as a result. Staples earnings lower than expected. So far, my predictions are on schedule.