Office Depot shareholder redoubles efforts to change board
New York — Investment firm Starboard Value, Office Depot’s largest stockholder with a 14.8% stake, revealed Monday it has delivered a letter to the office supply retailer’s board of directors, expressing “strong disappointment at the board’s failure to work constructively with Starboard to reconstitute the board.”
In March, Starboard nominated six candidates, including former Home Depot chief Robert Nardelli – to Office Depot’s board in an effort to strengthen the company’s direction.
Starboard has also filed a preliminary consent solicitation with U.S. securities regulators allowing it to seek shareholder approval of its proposals absent a shareholder meeting, which has yet to be scheduled.
Starboard said that, because “it has become clear that the company has no intention of holding the 2013 Annual Meeting of stockholders in a timely manner,” it had no choice but to “seek to bypass the ineffectiveness of the current board" by launching a consent solicitation that would let shareholders vote on the new slate of directors immediately.
Walmart Asia environmental program saves 20% in energy costs
Hong Kong — The Asia arm of Wal-Mart Stores Inc. said Monday it has achieved energy savings of 20% across 210 supplier factories in China.
According to Walmart Asia president and CEO Scott Price, the factories have “cut their energy consumption by a minimum of 20% as of December 2012, saving approximately 2.168 billion kWh, a number equivalent to powering 1.46 million homes for an entire year."
Walmart’s sixth annual Global Responsibility Report highlighted Asia’s contributions to its global responsibility efforts, supported by Hong Kong Productivity Council, a Hong Kong-based government organization, and The Institute of Public & Environmental Affairs.
Key achievements of the Asia initiative include reduction of greenhouse gas emissions in China and Japan by 11.3% and 20% respectively by the end of 2012 compared to a 2005 baseline.
Walmart has also championed a reduction in the use of plastic bags, by the end of 2012, Walmart reported an 86%, 90% and 40% decrease in the consumption of plastic bags in China, India and Japan respectively.
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Macy’s tapping into customer creativity for new ad
NEW YORK — Macy’s is turning to its customers for its next commercial, the retailer’s first national crowd-sourced spot created in celebration of America by Americans.
Customers who visit MacysAmericanIcons.com will be able to submit brief videos celebrating the people, places and things they love about America. Called "American Icons," the new television commercial will tell the story of what makes America great in the eyes, and through the lens, of people from coast-to-coast. In mid-May, Macy’s will debut the final 30-second spot on national television as part of the launch for its "American Icons" program.
"Macy’s recognition as America’s department store is a credit to the customers who have shopped our stores for more than 150 years. We could not celebrate our ‘American Icons’ campaign without asking these customers to participate by sharing their visions of what makes this nation great," said Martine Reardon, Macy’s CMO. "We’re excited to be giving our customers an opportunity to co-create this special salute and together, we’ll pay tribute to the people, places and things we love about America."
For the "American Icons" television commercial, Macy’s is seeking high-quality, creative interpretations in video, sequential stills and animation. The selected elements will be edited into a video montage that will feature content from across the country. Videos must be in high definition, 1920×1080 in resolution and no longer than 10 seconds in length.
Macy’s is looking for clips that visually depict each person’s favorite thing about America, such as hometown landmarks, scenes from a family farm, sharing a meal with loved ones, playing baseball with friends, visiting national parks and monuments, taking a road trip, landscapes, flags, quintessential houses, stores, signs, roads, classic cars, family portraits, great faces and special celebrations like state fairs, parades and fireworks.
Consumers whose contributions are used in the final commercial will receive a credit posted within the spot on youtube.com/macys.
Videos may be submitted for consideration between now and April 29 at MacysAmericanIcons.com. For more information, see official rules and regulations at MacysAmericanIcons.com. The “American Icons” program launches May 15.
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