Write your Congressperson, Senator, the President, the FTC and let them know you need your job. The CEOs should not profit over your job loss.
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Need info for organizing the PROTESTS. Need the date&time/location of the shareholder meetings please, both in MA & FL, thanks!!!! Please post what info you have, thanks.
f there is a protest being staged in Ma, I'm going.
Need the date&time/location of the shareholder meetings please, both in MA & FL, thanks!!!!
I just want to see Ron's face when the news breaks. If he was upset in that video in Jan. he will really be pissed when he door is finally slammed shut. The stock price (and resulting shorts), the lost $250 million and the overall failure should be enough for the board to get off their asses and remove him.
All the above has lots of truth to it. However I seriously doubt this is getting FTC approval. I expect a serious drop in share price when this becomes final or obvious. If you are in the market buying puts on this or shorting this bad boy could make you millions.
I know it is later in the Spring, but where is the shareholder meeting this year?
Maybe all the people who got axed should hold an 'occupy Staples' in a prominent place....
As much as I'd love to see the gov't approve the buyout conditionally on a clause of no payouts, they do not have the authority to do that. Also, even if that were to happen they would launder the payouts somehow anyway. CEO greed is at an all time high of 265 times the pay of the companies avg wage. Ron and Roland both SUCK as CEO. They should not be rewarded for this,
If the buyout fails, Ron is very likely done for, though he will be separated with an outrageous package
Roland will take a cut of the $250m and continue to fleece OD until it goes down the drain, it's demise almost certain. But he will keep riding the gravy train until it hits bottom.
Pretty much nothing we can do will affect them, they are set for the rest of their lives either way.
Yes, Staples and OD did provide many jobs over 30 years, but the CEOs profited greatly off the backs of those people, and then just pissed all over them when they had no more need of them.
The main focus here should be BLOCKING THEIR PAY, NOT THE BUYOUT. Now how can you do that? How about all the axed people with horror stories getting together to swap ideas, organize, etc.?
Most of you are right on point. Doesn't matter if the acquisition happens or not, jobs are going away. If Staples/Depot become one, then the first thing that is going to happen is the consolidation of stores, sales offices, distribution centers, fulfillment centers, fleet locations, etc. That's a whole lot of people losing jobs. If the FTC wins then Depot will have a hard time time maintaining it's current position in the market. They will close hundreds of properties if they want to try and stay alive. Staples will need to recover from the 250mm payout in the breakup clause which will undoubtedly mean more closures of stores/facilities and lost jobs. Both are volatile companies and, honestly, I think the acquisition may be the only thing that keeps both companies afloat. I'm not saying the unification will be good for the consumer (especially contract customers) but I don't see any way either one will survive in the long run if this doesn't go through. Amazon, Sam's Club, Costco...all eyeing a piece of the office supply contract market and that's bad news for Staples/Depot.
The buyout is NOT about "combining synergies" - it is about a big payday for two old farts and cutting expenses - IE your jobs...
Buyout or not, do something to prevent the buyout AND block ceo's from getting obscene money for slashing jobs.
The fact that Ron and Roland will make millions off this while laying off thousands ( or just firing to avoid severance ) does make me sick.
But buyout or no, both of these companies are in a downward spiral. The layoffs will come eventually on both sides no matter what.