The Grimm Reaper

Office Depot: Another Retail Sector Tragedy?

The Lastest News From The Grimm Reaper:
OFFICE DEPOT
Dateline: Florida
Office Depot stock has fallen over 8% today, just before noon EST.
Analysis indicates that there will now be significant degrading of the companies value in the next 90 days.
OFFICE DEPOT needs to make bold moves to re-assure the investment community, such moves would include the sacking of CEO Steve Odland as well as BSD President Steve Schmidt; closing of all non-producing stores; hiring an out side accounting group to work with FLORIDA investigators to resolve the questions surrounding their government contracts; and refunding unilatterally, signiicant dollars to the numerous GOVERNMENT accounts that have been overcharged. Unless OFFICE DEPOT, take these types of bold steps, the investigations, in FLORIDA and CALIFORNIA, could result in irreparable damage to the OFFICE DEPOT brand name. Over all out look for 2008 is not good, even with bold action.