I give lectures on the very subject: "Big-box store bought orchids". The first thing I tell these folks is to take their plants out of their ceramic pots and remove as much of the sphagnum moss as possible. Growers ship their orchids (almost always phals) in this moss becuse it will hold moisture for a long period and thus assure that their plants will ship to the big-box stores with adequate water. Unfortunately almost all of the ceramic pots have little if any drainage/aeration and the moss just compounds the problem. Phals can(may) do well in spahgnum moss, but the pot/basket/mesh-pot needs excellent drainage and lots of holes to allow air passage.
The 'Diamond Jubilee' was sold seven weeks ago to a gal (for her mother) in Texas, but she wanted me to wait to ship it until her mother arrived for a prolonged Christmas stay. Now, after seven weeks, the flower has finally begun to fade and I told the gal that the flower was pretty much finished. She said, "Please, if you have anthing with bud, I would prefer you substitute that for the 'Diamond Jubilee'." I did have a large plant with three sheaths, two full and ready to bud-out and one just beginning to fill. She gladly wanted that plant instead. It was my only plant, and was my personal collection, but hey, her mom deserves a nice gift, something to brighten her Christmas (she has dealt with husband's death and is not well herself), so the plant is shipping out tomorrow.
Here is a picture of the flower from last year. It was taken 02-2012, and was not quite fully open. The plant she is getting will have numerous flowers.
Blc. Meditation 'King's Ransom' x Blc. Xanthette 'Chartreuse'