Tony Stewart sponsor reports big loss

Office Depot Inc. said Tuesday it lost $1.54 billion in the fourth quarter as hefty charges and sharply lower sales in North America and abroad weighed on the office supply chain. The loss was much larger than analysts expected, and Office Depot shares tumbled 20 cents, or 13.8 percent, to a fresh 52-week loss of $1.25 in morning trading. "We are disappointed with the fourth quarter results," Chief Executive Steve Odland said on a conference call with analysts. "As these times have gotten tough for our customers they have significantly cut back their spending, including their spending on office products."