Consumer Affairs & Relations

If Staples fails to merge with Office Depot, activist investor and major Staples shareholder Starboard Value LP is warning the company’s share price will crater and Chairman and CEO Ron Sargent needs to go.

In a letter to Sargent, Starboard contends a combination with Office Depot, which hasn’t fully integrated with OfficeMax following a late 2013 merger, is the best way to maximize value for Staples' shareholders.

Washington, D.C. – The Securities and Exchange Commission (SEC) will reportedly review a rule that allowed Whole Foods Market Inc. to block a shareholder proposal regarding director nominations. According to Bloomberg, the SEC said it will take another look at a regulation that lets public companies block proposals from shareholders if the company offers a similar proposal.

New York -- Activist investor Starboard Value LP, which helped put together the merger of OfficeMax and Office Depot, issued a letter on Tuesday calling for Staples Inc. and Office Depot Inc. to merge, saying it would lead to greater savings.

Washington, D.C. - The National Retail Federation (NRF) has publicly expressed disappointment at the U.S. Supreme Court’s announcement that it would not review an appellate court ruling on whether the Federal Reserve set a 2011 cap on debit card swipe fees higher than the level sought by Congress in legislation passed the year before.

Fort Lauderdale, Fla. – AutoNation Inc. has named Mike Jackson, chairman and CEO, to the additional role of president, effective Feb. 4, and signed a five-year employment contract extension through 2019. Jackson has been the CEO of AutoNation since 1999 and the chairman since 2002.  

Home Depot’s CEO Craig Menear will take over as chairman of the board when Frank Blake retires Feb. 2.

Menear, formerly head of Home Depot’s retail operations, was named Blake’s successor as CEO in August, and the company said at the time that Blake would remain as chairman. Menear took over the CEO role at the beginning of November.

New York -- Consumers are feeling bullish, buoyed by low gas prices and an improving job market. The University of Michigan preliminary consumer sentiment index for January rose to an 11-year high of 98.2, from a final reading of 93.6 for December.

The Army & Air Force Exchange Service is making it easier for disabled veterans to buy gas at 370 of its stores worldwide thanks to a full-service initiative called FuelCall.