The Pullins Report (TPR) - Whole Foods CEO Bashed Rival Company Online
The Wall Street Journal just reported that the founder and CEO of Whole Foods bashed a rival company online for
years under a screen name.
Whole Foods agreed in February to acquire Wild Oats, of Boulder, Colo., for $18.50 a share. The FTC sued to block the deal on antitrust grounds in U.S. District Court in Washington, D.C., saying the combination would reduce competition and raise prices for consumers.
Scott Pullins, Esq.
Publisher,
The Pullins Report
years under a screen name.
Whole Foods agreed in February to acquire Wild Oats, of Boulder, Colo., for $18.50 a share. The FTC sued to block the deal on antitrust grounds in U.S. District Court in Washington, D.C., saying the combination would reduce competition and raise prices for consumers.
To buttress its case, the FTC is trying to use Mr. Mackey's words against him. In its lawsuit, it quoted Mr. Mackey informing other Whole Foods board members that buying Wild Oats would enable the company to "avoid nasty price wars" in several markets and reduce the chance that a big conventional grocer like Kroger Co. would create a competing national natural-foods retailer.
When that part of the FTC's suit became public, Mr. Mackey fired back at the agency with a 14,000-word treatise on his blog. He accused the government of "bullying tactics," failing to do its homework, and taking out of context "macho posturing" by executives that is common to competitive organizations.
Read the article here.Scott Pullins, Esq.
Publisher,
The Pullins Report
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