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  "documentTitle": "Office Depot, Inc. (ODP)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
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  "presentationDate": "2013-08-02 00:00:00",
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  "notes": "Uses quotes from Glass Lewis to bolster the argument of board negligence.",
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      "text": "We believe directors sit on a board to represent the interests of shareholders. In our view, the corporate governance and nominating committee should heed the voice of shareholders and act to remove directors not supported by shareholders or correct the issues that raised shareholder concern.",
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      "text": "Self-Interested Arrangement with BC Partners: 2009 investment deal with 10% dividend and voting power transfer to entrench the Board.",
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      "text": "Disregard of Shareholder Withhold Vote: 2008 withhold votes of 34%, Glass Lewis criticism of compensation committee, and failure to act on shareholder concerns.",
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      "kind": "quote",
      "text": "believes these high against / withhold votes are likely related to the directors service on the Company’s compensation committee...during which time the Company received an “F” grade in our pay-for-performance analysis. — Glass Lewis",
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      "text": "Source: ODP SEC filings.",
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      "text": "The Current Board Has a Long History of Self-Interested Behavior and Disregard for Shareholders' Interests",
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