Word: stemberg
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Analysts caution that the winners on Black Friday will not necessarily be the champions on Dec. 31. Tom Stemberg, former CEO and founder of Staples, and now managing partner of the Highland Consumer Fund, sees no correlation between Black Friday sales and a retailer's ultimate success or failure over the holiday season. "Black Friday sales are about as meaningful as Groundhog Day is to the weather forecast," says Stemberg. "What happens is every retailer blows his brains out with these door-crasher deals trying to generate traffic...
...official story of how health-care reform was conceived in Massachusetts could hardly have been less inspiring--or promising. In the earliest days after Mitt Romney's election in 2002, goes the tale, the new Governor of Massachusetts sat down in his office with his old friend Tom Stemberg, founder of the Staples office-supply chain. "There are lots of things you can do to make this state better," Stemberg told him. "But if you really want to make a difference in the long term, you should fix the health-care system." Romney did not exactly jump at the prospect...
...care to people who couldn't pay for it. But with a third of the state budget going toward health care, the sheer inefficiency of treating the sore throats of the uninsured in emergency rooms didn't sit well with the businessman in Romney even after he'd told Stemberg that health-care reform was not on his agenda. Meanwhile, religious groups and health-care advocates were pushing their solution: a liberal universal-health-care ballot initiative that would raise taxes. And the picture was about to get significantly worse: Health and Human Services (HHS) Secretary Tommy Thompson was threatening...
...November 2004, nearly two years after his meeting with Stemberg, Romney was finally ready to go public with the beginnings of a plan. As it evolved, it became a proposal to achieve an end that liberals had long dreamed of, but through conservative means: creating more competition in the private-insurance marketplace and insisting that Massachusetts citizens take personal responsibility for their own coverage. "From the minute you heard him articulate it, you knew this was a new concept in American health-care policy," says Robert Blendon, a Harvard University professor of health policy. "It was a very different...
TIME: After more than a decade at Staples, you took over from co-founder Tom Stemberg three years ago, just as the booming business of the '90s was slowing down. How big a challenge was that...