Posted by Dale Buss on February 20, 2013 12:22 PM
One company announced the deal early, but the merger between Office Depot and OfficeMax has been a long time coming.
Office Depot jumped the gun by posting a draft press release about the deal on its web site early this morning; shortly after, the two companies confirmed that a deal was done. The still-to-be-approver merger will create an $18 billion global "office solutions" company whose combination is meant to help them survive the intensifying competition not only with archrival Staples but also with Amazon.com and other retailers that are increasingly peddling office supplies.
"In the past decade, with the growth of the internet, our industry has changed dramatically," Neil Austrian, CEO of Office Depot, said in a press release. "Combining our two companies will enhance our ability to serve customers around the world, offer new opportunities for our employees, make us a more attractive partner to our vendors, and increase stockholder value."Continue reading...
Posted by Mark J. Miller on February 19, 2013 09:58 AM
Retailers OfficeMax and Office Depot are close to becoming one entity, a source tells Reuters, in order to pose a more serious threat to competitors like Staples and Amazon. It isn’t a done deal just yet but the expected stock-for-stock merging could happen—or fall apart—this week.
The rumored merger has already set both retailers' stocks aflame, with Office Depot jumping 28 percent to $5.89 per share and OfficeMax surging 19 percent to $12.77 per share. According to Bloomberg, the companies have been discussing a possible stock swap that would "create a single office supply retailer to compete with Staples."
While the two companies wouldn’t comment, “one of OfficeMax's top shareholders, Neuberger Berman, said it would support a merger with Office Depot depending on terms of the deal,” the Chicago Tribune reports.Continue reading...
Posted by Shirley Brady on February 18, 2013 05:31 PM
Nike and Oakley drop paralympic athlete Oscar Pistorious following steroid allegations during girlfriend's murder investigation.
Costco CEO addresses Tiffany suit for alleged trademark infringement in all-company email (exclusive).
Starbucks expands India footprint to seven stores as company tests video chat drive-through ordering and expands Starbucks Evenings concept to Washington's Dulles airport.
Carnival cruiseship fire blamed on fuel line leak.
China vows to crack down on "malicious" trademark registrations.
Disney's Hong Kong Disneyland theme park finally turns a profit thanks to Toy Story attraction.
Amway quietly builds brands and racks up sales.
BP prepares to go to court over Gulf spill.Continue reading...
Posted by Mark J. Miller on January 4, 2013 04:49 PM
As America’s economy climbs back from some brutal years, plenty of folks are still looking for work. No matter how desperate they are, though, there are a few companies that they might want to avoid.
One of them is satellite TV provider Dish Network. It already has 26,000 employees, but the word is that not too many of them are happy. Last August, 24/7 Wall Street named it the Worst Company to Work for in America. Now that’s an accolade to put on your LinkedIn profile.
What makes it so bad? “Long hours, lack of paid holidays, and way too much mandatory overtime,” Bloomberg Businessweek reports. And it’s all because of one man: the 59-year-old legendary founder and chairman of Dish, Charlie Ergen, who maintains 53.2 percent of the company’s shares and 90.4 percent of the voting rights.
Ergen has never met a penny he didn't pinch. And while that sometimes means making shrewd business decisions, it also means making such choices as installing fingerprint scanners at the doors to company headquarters that are rigged to send emails directly to HR if an employee is late. The company only put in the scanners after Ergen noticed that the key/badge system was being circumvented by employees badging in for coworkers.
And the renowned cable-hater certainly has an eye for such detail.Continue reading...
Posted by Dale Buss on September 26, 2012 04:07 PM
For decades, pundits have been saying that the rise of the computer would vanquish paper to the trash shredder of history. But they haven't been right.
Maybe, that is, until now. Because the whole issue of the feasibility of paper products may have reached a tipping point with the news that Staples is realigning its retail and e-tail strategy in a massive rethinking of its business.
The company announced that it "will integrate its retail and online offering, increase investment in its online businesses, reorganize its operations, implement leadership changes, initiate a multi-year cost savings plan, and restructure its International Operations."
Specifically, it plans to slash its U.S. store footage by 15 percent and invest the savings in its e-tailing business. In addition to shrinking its U.S. retail footprint, it's closing 45 stores in Europe. It's also rebranding its Australian business "as it continues to move toward one global brand."Continue reading...
Posted by Mark J. Miller on October 20, 2011 03:31 PM
You like fruit juice? You like chips? You are in luck. Jamba Inc. and Bare Fruit LLC, which sources its apples from the Pacific Northwest, are joining forces for a new line of Jamba-branded dried-fruit chips, according to the Associated Press. The licensing deal will result in "all natural" chip flavors that will include mango, Fuji apple, and Granny Smith apple, which should be in stores by the new year. The company, which has 746 Jamba Juice stores in the U.S. and six outside, “has been trying to grow by licensing its brand for consumer products,” AP notes.
"Our focus continues to be on developing differentiated Jamba-branded products that make it convenient and easy for health-conscious consumers to lead healthier and more active lives,” stated Julie Washington, senior vice president and general manager, Consumer Products, Jamba Juice Company. “This latest offering, created with Bare Fruit, leverages our collective expertise in fruit to create a line of wholesome snacks that are lower in calories, higher in fiber and naturally sweet.”
Jamba Juice was also just named as one of the latest round of retail partners for the Google Wallet "tap and pay" platform.Continue reading...
Posted by Shirley Brady on May 2, 2011 01:00 PM
Hotels.com is extending its Clay Yourself digital avatar campaign with a social entertainment experience to woo Facebookers to engage with the brand.
Billed as three wild nights and featuring b-list celebs, the mildly risque "Trip Your Face" experience combines elements of the OfficeMax Elf Yourself campaign, Perrier's digital tease with Dita Von Teese and ties into pre-Hangover 2 buzz, without being overtly related to that movie's plot or characters.
The Expedia-owned site's new Trip Your Face website is the hub for an interactive journey that starts when visitors select one of three destinations (New York, Paris or Las Vegas) and upload their Facebook photo plus profile photos of up to three friends to participate in the fun.Continue reading...
Posted by Dale Buss on December 1, 2010 09:00 AM
Amazon tops buzz meter on Black Friday and Cyber Monday.
Bank of America dismisses speculation that it could be the next target of WikiLeaks.
Boots, the Co-operative, and Fairy rank as the top “family” brands in the UK.
CBS replaces The Early Show anchors.
Coca-Cola, Nestle, Walmart and other Western brands aim to grow in Africa.
ESPN ramps up tech innovation to stay ahead of the competition.Continue reading...