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Message
A year after Staples/Office depot merger prohibited by govt, staples goes private
Posted on 6/29/17 at 3:54 pm
Posted on 6/29/17 at 3:54 pm
frick the govt! damn yes I'm mad. Lost a ton of a money due to the merger falling apart... and I trace it back to politics rather than actual market forces.
In early 2015, Obama criticized what he felt was Staples undermining of his signature healthcare law by utilizing part time staff to avoid paying for health care citing a fact that about 30-40% of their staff was part time. Problem was this was the same percentage before the health care law was passed and is likely similar to most retail shops. So why would Obama and Buzzfeed (LOL!!!) who did the "investigation" single out Staples? Well you're likely aware that Staples was saved by Bain Capital a few decades earlier... yes The same Bain Capital tied to Mitt Romney, an evil republican.
So of course Staples has to go on the offensive and correct Obama... which never ends well...
MF Link
Company then submit a buyout offer to Office Depot to save both stores in the face of Amazon and other online retailers that are destroying their day-to-day sales. Yes Office Depot and Staples still control a majority of the corporate sales but does any really believe there isn't strong competition in purchase of paper, pens and office equipment? But alas, govt rejects their bid, price drops to $8. I lose $$$$....
frick. I'm taking my $10 and a quarter and going home...
In early 2015, Obama criticized what he felt was Staples undermining of his signature healthcare law by utilizing part time staff to avoid paying for health care citing a fact that about 30-40% of their staff was part time. Problem was this was the same percentage before the health care law was passed and is likely similar to most retail shops. So why would Obama and Buzzfeed (LOL!!!) who did the "investigation" single out Staples? Well you're likely aware that Staples was saved by Bain Capital a few decades earlier... yes The same Bain Capital tied to Mitt Romney, an evil republican.
So of course Staples has to go on the offensive and correct Obama... which never ends well...
MF Link
Company then submit a buyout offer to Office Depot to save both stores in the face of Amazon and other online retailers that are destroying their day-to-day sales. Yes Office Depot and Staples still control a majority of the corporate sales but does any really believe there isn't strong competition in purchase of paper, pens and office equipment? But alas, govt rejects their bid, price drops to $8. I lose $$$$....
frick. I'm taking my $10 and a quarter and going home...
2
Posted on 6/30/17 at 5:01 am to C
I'm glad we have a Politics Board.
Posted on 6/30/17 at 5:41 am to foshizzle
Do you think their would be a monopoly in office supply availability if they had merged?
Posted on 6/30/17 at 6:40 am to C
Yeah man, what about dunder Mifflin?
Apparently the ftc was going to approve the Walgreens-Rite Aid deal before Walgreens pulled out. Luckily for me, I sold two days before the drop for $4 a share and a cool 15.5% gain
But that's just trading. And the larger the possible gain, the more risk. Go look at the wall street bets reddit and you might feel better after reading a few losses
Apparently the ftc was going to approve the Walgreens-Rite Aid deal before Walgreens pulled out. Luckily for me, I sold two days before the drop for $4 a share and a cool 15.5% gain
But that's just trading. And the larger the possible gain, the more risk. Go look at the wall street bets reddit and you might feel better after reading a few losses
This post was edited on 6/30/17 at 6:41 am
Posted on 6/30/17 at 11:37 am to C
quote:
frick. I'm taking my $10 and a quarter and going home...
Some questions for ya - how does that work? Did your shares just lock in at $10.25 and all you can do is cash out? The stock is at $10.08, so what happens if you buy now? Can you even buy it now? Why is listed at $10.08 if they're paying out $10.25? Did that already happen?
Posted on 6/30/17 at 12:08 pm to Tiger the Hutt
ITs just a buyout proposal. Still has to be approved etc. it's been in the works for over a month so the delta is just a reflection of the risk of it not going through and probably delay in payment.
Posted on 6/30/17 at 12:48 pm to C
Good to know, thanks for the reply
Posted on 7/1/17 at 7:00 am to C
quote:
Do you think their would be a monopoly in office supply availability if they had merged?
I have no idea. But when you make comments like
quote:
Well you're likely aware that Staples was saved by Bain Capital a few decades earlier
it's pretty clear you're trying to make political points.
How do I know this? Because you didn't consider that Bain has been involved with many companies in the past "several decades", not just this one. Has Obama been trying to hurt all of them? Or just this one for some reason?
Posted on 7/2/17 at 6:26 am to foshizzle
Your mixing it up. Buzz feed targeted staples as a greedy capitalist company not supporting Obamacares intent by utilizing temp and parttime workers. President used that news story to bash staples. Then the cycle started.
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