Apparently Staples stock has almost no downside limit. As the market rallies today up over 318 points SPLS continues it's slide (9.18 at this moment). For those of us the want Ron n crew get beaten into the ground this is sweet. Keep in mind most of Ron et. al. hold vast amounts of stock "THEY CANNOT SELL" on a moments notice because of SEC regulations. I predicted nearly two months ago this puppy was going down down down and when the inevitable ruling comes in April denying the merger, and forcing Staples to pay Depot $$$250 million for NOTHING Ron should be shown the door. However if I was still a stock holder of this DOG WITH FLEAS I'd be demanding Ron personally give up his SPLS stock to cover his massive malfeasance of office. I'd want Demo's and Otis to suffer as well. I'm staying with my stock call of $5.50 by late April on this.
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Awwww...no bonus this year???? Welcome to the club!
They are in major cost cutting mode. More so than normal for January. Slashing payroll in all stores, all supply orders cancelled and no travel expenses. I'm expecting a big push to oust Ron when the buyout is finally quashed, but if the stock keeps going down it may come sooner. When a store does not make sales for the period, the GM gets a lecture. When it fails for the quarter, the GM is asked what changes are being made. The next quarter someone gets thrown under the bus, usually the Easy Tech Expert. The third or fourth consecutive bad quarter usually the SM gets thrown under the bus. Finally, after about 5 or 6 bad quarters the GM is moved to another store, written up or fired.
As the head of a downward spiraling company, Ron has had years to change the course. It is now 4th and long, deep in the fourth quarter, and it's looking like Ron's Hail Mary pass (because a field goal won't cut it) is about to be batted down. Time to go Ron, and take your failing offensive line with you.
$9.04 today. Ron has to be going f'ing crazy at his minions. "Raise prices, cut expenses, no travel, do whatever needs to be done, we have to find a way to create shareholder value quickly". Bunch of morons. This stocked has tanked since I left 2014.
It is looking like a bad year for Ronnie. I have strong doubts about Staples succeeding in court (Should not have pissed off POTUS) and a fustercluck this big will call for a sacrificial goat.
Anyone that takes the reins after Sargent's expected departure would be wise to can D and O shortly after taking over. There is no argument for keeping them on for their experience, they suck at running retail. They manage by threats and fear, rather than lead by example. A quick and clean transition would be for the best. Morale is in the shitter across the company, with D and O being the root cause of much malcontent in retail.
Jajajaja