Can't resize text box without squishing my text!

[sleininger]

I'm sure there is a simple fix...but I can't figure it out. My Text boxes don't have a middle point to re-size the text box so the text will automatically wrap. It will only squish or stretch my text...Help?

FYI: Not using point text. Show bounding box IS turned on...I don't have this problem on my home pc only at work..