Word: stemberg
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Dates: during 1990-1999
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That's understandable. The deal will create a chain of 1,100 outlets in 47 states and 10 foreign countries. Fuente and Staples CEO Thomas Stemberg denied that a merger would lessen price pressure on the thousands of items, from pushpins to personal computers, on which the two often clashed. But analysts viewed the deal positively for exactly that reason. The combined companies would control about 10% of the $150 billion U.S. office-supply business, or about three times the slice held by No. 3 OfficeMax...
Staples' founder Thomas G. Stemberg '71, currently the company's chair of the company's board, came to Romney with the idea that by centralizing purchases for many stores, Staples could provide office supplies at a much lower cost than previous office supply stores...
...Stemberg says Romney's help was essential to helping his concept grow...