Heard it Through The Groves: Some Investors Feel Office Depot Needs to Remake Image

Editors Note: Heard it Through The Groves is a section of the Florida Squeeze strictly for rumors and gossip. We require two sources to verify information before we publish it but these are NOT news stories but simply rumors. We urge our readers to treat rumors with a pinch of skepticism as we do.

Earlier this month we discussed the issues surrounding one of the largest Florida based companies, Office Depot.

While it appears the fears that Office Depot could ditch the state despite continued tax-related generosity from both the legislature and Palm Beach County have been allayed slightly, word on the street is that Office Depot’s investors want to see the brand revitalized and refocused ahead of the proposed merger with Illinois based Office Max.

Office Depot’s Boca Raton headquarters employs over 5,000 people and while it appears for now Florida will retain the HQ, any significant changes to Office Depot’s branding could impact jobs (either positively and negatively depending on the direction the company chooses to go) in the Boca Raton area.  We will stay on top of developments related to Office Depot.

3 comments

  1. Thanks for reporting on this Kartik. This is why I keep reading despie your insane claims that the Democrats ned to be more liberal and reject Charlie Crist the best vote getter in the state and a big reason why Office Depot did not leave Floirda when they threatened to before.

    The local press has been asleep on this matter except for you of course, but let me mention that the WSJ reported last week that investors want a totally new board and CEO for he company so your instincts about a remaking of the brand are probably right on the money.

    Please stay on top of this since the papers seem to not care.

    Like

  2. Maybe they need more tax breaks to remain competitive? That’s what the conservatives will claim.

    Like

  3. […] received good news about record tourism numbers, about corporate jobs moving to the state and some potential good news that one of Florida’s largest companies will stay […]

    Like

%d bloggers like this: