It is time for the Company to be sold. There needs to be consolidation w/in the industry or for ODP to join forces with another retail Company. My guess is that ODP could get a deal done for $7 - $8 a share.
It is time!!!!!!! No fun being a $3 stock.
Office Depot like any retail chain is a competitive work place because you must work at the top of your game or someone who wants to do better will replace you.
That is why they pay up to 20% commissions to their sales staff. In stores that regularly pay out 10%+ this becomes a very important part to increase your pay. Most places pay zero commission.
NO SALE! Until more housekeeping is done at ODP (ie: closure of 10% to 15% of stores), Reduction of highly compensated employees and creation of in house champion to spend 100% of time in the field to energize store force. Once you see these activities, someone has contacted ODP with a takeover proposal. It will not be hostile.
Comrade! This has to be the father of all ironies. This company that has been extremely hostile towards its employees, will get a nonhostile takeover proposal?
I disagree. I think it will be hostile. If ODP is taken over, expect a lot of managers to get the axe.
In the meantime, don't hold your breath. There is always the possibility that this company will fold.
If so, expect stock in Officemax and Staples to rise.
In reply, I meant 43 million. The "6" in there must have been a typing error. Obama supporter? I used to be until he advocated homosexual marriages, leniency for illegal immigrants, and his support of ongoing ridiculous wars in Iraq, Pakistan, Afghanistan and other places. However, I don't care too much for Romney either. But back to the subject. You should be aware that when a stock goes to about $2 as it is now, it gets classified as "junk". I worked at Office Depot for about 9 years, and am glad I'm gone. This is a company that really degenerated into a hellhole for its employees. The one I had worked at has been advertising for employees for over a month. Even in this lousy economy, people don't seem to want to work there. I am not as negative as some of you. Office Depot may get bought out, but I suspect by a company that may want to use its locations for mailing stuff. Other than that I see no value in this company as most of its assets are in inventory. My understanding is that most of the stores are leased. Employees were treated like dirt. I suspect that may be the same today. If this company is to survive, all the top management should be fired and replaced with those who know about ethics, professional courtesy, and knowledge to make it easy for employees to adjust prices during sales and other disputes. The managers I had, just didn't cut the mustard!