Question
I was at Walmart and I took a glance at their orchid section, and they were not looking so good, they have ridges on the leaves and are hanging instead of fully living. and of course being me i had sympathy for the plants and because i love growing orchids and have 3 new ones doing well at home that i practically rescued i thought well it wouldn't hurt to try and save another one. so since the spike was dried i cut it down to above the third node because it looks like it could flower again. is there any way to bring the leaves back to life or should i just wait for new leave growth, and if that is the case how long will this take. Thank You :)

Answer
Alex, good for you.  I have found myself in the rescue business from time to time-- and not always successful.  The main problem with orchids obtained at mass retailers (eg Home Depot, Walmart, Target, Lowes, etc) is that they have no one who knows how to care for the plants once they get them and they have no intention of keeping the plants in their inventory where they take up valuable space. The most common problem is root rot which stems from a combination of degraded or inappropriate potting mix and impropoer care (eg overwatering or underwatering).  I rercommend that you obtain a bag of orchid potting mix and then unpot your plant and examine the roots.  You should soak a portion of the new potting mix while you are doing this.  Assuming you have a phalaenopsis orchid, you should have a new plastic pot of appropriate size with lots of drainage holes.  Rinse off the roots and remove any that are mushy or stringy.  Healthy orchid roots are firm and turn green when wet.  Now you are prepared to make an assessment of the chances for survival.  You will need at least one or two healthy orchid roots to have a chance at rescuing this plant.  Place the healthy roots attached to the plant into the plastic popt being careful not to break them (they are less brittle when wet).  Then add your new, wet orchid potting mix, tapping the pot while adding it to settle it amongst the roots. Place the plant aside to allow it to drain and then move it to your growing area.  Depending upon the extent of the root damage, you may yet lose one or more leaves which have lost their supporting roots.  Do not water for at least 1-2 weeks to allow the mix to dry out, then water weekly.  

Some phalaenopsis hybrids rebloom only on new flower spikes. The old flower spikes dry up on these plants and they will not rebloom on the old spike which may be removed.