Four Office Depot employees fired after review finds accounting...

why would anyone invest in the stock market when companies can openly lie about earnings and restate them.

I'd pay attention to store location relative to Staples and the big box stores, who also sell home office stuff. Although the price of gas has recently risen (within the past few years), being convenient to customers and inconvenient to competition would be a reasonable strategy.

If Office Depot wants to save money, I'll run it into the ground for $5 million a year!

Office Depot has always had folks who could cook the books

Greg wrote:

If Office Depot wants to save money, I'll run it into the ground for $5 million a year!

I'll do it for $3 million!

These employees did what upper management wanted--- hope the SEC gets them good!!!!!

so does walmart. It has the same recipes.

This is a dog and pony show.

Fire four, have all the executives go the BOCA RESORT for the weekend and waste money.

What a life...

Save Office Depot.
Fire Odland before he destorys it.
This is a ship without a rudder.

call the A-team

just call it "Streamlining" what a joke

Office Depot is yet another example of how badly the United States has become in good business principles. During the recession in the early 90's Motorola maintained its position while other large organizations floundered. At the time Motorola was a customer of mine and it was obvious how well they treated their employees. These large corporations have no loyalty to their employees and that is the first reason they get into trouble. One company I was associated with over the years had a motto "their best tool was their employees". You can look at the history of failed companies everywhere and you will see they cancelled health insurance, reduced benefits, outsourced to India or some other off-shore site, they employeed illegals to escape minimum wage, and on and on. Look at the other side where employees were considered a treasure and you see success time after time.

Office Depot needs a new theme song for Odland..."Take the Money and RUN!"
Please.

Office Depot is a better company than Office Max, in my opinion. The low stock price tells me to buy. OD could've quietly let the accounting report slip by, but they took action and are working to correct it. This is a good move. I'll be watching them closely.

He had the same tactics at Autozone. These large corporations and boards will never change. Funny how upper mgmt gets the bonuses, stock incentives, expense accts, along with many other perks. They cut employee perks. They expect loyalty and then turn their backs on you. Maybe if the corporate office employees and all of executive/upper mgmt had to work and earn as everyday store employees it would be different.

Odland is a stupid dirtbag! He's running Office Depot into the ground by being cheap and trying to push the company to make money overseas. Not even enough staff at corporate to handle workload since he outsourced or ask workers to "voluntarily" leave. What a joke!

I hear that Steve Odland has a separate entrance and exit to his office so he can avoid seeing anyone in the corporate office. A people person this man is not.
Why is he tormenting himself and others by being in this position? It doesn't make sense to me but I hope it all works out for the best.

Work, shop , and invest......oh no, that was Bruce Nelson's creed.

Upper mgmt. at the old depot is pretty corrupt at this point!(except for a few) When you have counsel that worked with chainsaw Al (Sunbeam debacle) and the SEC checking the legality of all this.....you have to wonder!!!

stockslie wrote:

why would anyone invest in the stock market when companies can openly lie about earnings and restate them.

Because over the long term the stock markets offers the higherst returns of any investment. But not for you, keep living paycheck to paycheck.