What the F^%%^, This sucks. nice knowing you!!!!!!!!.
Staples Inc. is shedding another part of its business as it tries to finalize its acquisition of rival Office Depot in the midst of U.S. antitrust concerns. Taylor Corp., a Minnesota-based marketing company, announced Monday that it has agreed to acquire the assets of Staples Print Solutions, a division of Framingham-based office supply retailer Staples (Nasdaq: SPLS).
Print is a huge money maker but Staples is not making money because their sales team continues to give huge discounts and credits back to the customers. One audit revealed that one customer was given a full credit on every order that they placed over the last year. They have said on several occasions that the sale of Print has nothing to do with the Depot merger. They can say it but we all know what the truth is in regards to that.
Democracy Spring activists have come back with lots of ideas - Can you organize a massive protest in front of Staples HQ & Office Depot's HQ demanding the CEOs take those millions and re-invest in saving jobs? You certainly can demand the shareholders limit CEO pay... Stand up for yourself, your CEO certainly will not. They are profiting over your job loss.
https://www.facebook.com/Block-Staples-Office-Depot-buyout-422842611249626/
Can't wait to watch Ron's meltdown next month. Even if the judge rules in favor of Staples, The FTC can still appeal and tie up the buyout longer. Will they extend the agreement even longer?
Roland Smith makes out either way (unless it drags on and he dies first). If it goes through he gets $67 million. If it is blocked I am sure gets a nice cut of that $250 million. Hopefully if/when the deal falls through Ron is finally shown the door.
or is it up a dwindling cash reserve to pay the $250 million to Depot if the merger is blocked? They've paid a lot out in cash to litigate this so far!
Anything to keep from paying $250 million to ODP..
So, it's pretty much a huge ego trip for the senior management. Throwing a tantrum that no freaking FTC is going to tell them what they can and can't do. It can be better for print. Emphasis on it CAN be.
Its all for Ron and Roland. In the end they are the two cows that will make out. Everyone else will be fed to the slaughterhouse. It may give staples another couple years longevity, but under current management maybe not even that.
Wow. I am so surprised. Maybe the sun will also set in the west today bringing darkness to the sky above?
There's been rumors of this for awhile. I think this is a huge mistake. Print is a huge money maker with little overhead. Hope the execs don't look back in 6 months and realize what a colossal screw up they made by selling this off. Sounds just like the SDO/delivery fiasco. I'm wondering if this Depot acquisition is going to be worth it in the end. Sounds like they're selling the farm to keep a couple of cows.