Kroger and Albertsons claimed they wanted to merge into one grocery giant in order to keep prices low.
But after the merger was blocked, they approved spending a combined $10 billion on stock buybacks.
They each paid their CEOs over $15 million in 2023, by the way.
Hello?
But after the merger was blocked, they approved spending a combined $10 billion on stock buybacks.
They each paid their CEOs over $15 million in 2023, by the way.
Hello?
Comments
Hang in there🤗We'll get through it
I've heard of people ordering catering and eating on it for a week (like Mexican) make many different meals during the week with the ingredients.
There shouldn't be any mergers, there should be brake ups
The end-goal of capitalism is monopoly...
"Corner the market" isn't just marketing speak - it's what they literally want to do: corner you so you have no choice but to buy from them.
I was shocked
Give me an honest robber baron any day over these ridiculous PR tactics.
@azagmayes.bsky.social Thank you for all you did in Arizona to help block this merger. It would have been terrible for our state.
HEB is about market share. Wherever they are located, they claim over 50% market share.
Communities south of Austin needed groceries - they asked HEB to locate there. And it happened.
I already know why H‑E‑B is badass.
I recall stopping into one of their stores to get a loaf of bread to save a trip.
The price for that loaf of bread was more than TWICE what it cost at HEB. I left without purchasing anything and never went back.
but the question is still one the people making the claim need to answer. not Austinites.
There are good reasons for that.
But now he's a greedy piece of shit
https://en.wikipedia.org/wiki/Rodney_McMullen?wprov=sfla1
As usual, nothing.
Did they drag some CEOs in front of Congress to explain their
prices? Or enact some laws to make buybacks less lucrative? Or hike the tax rate on the rich? Nope to all these things. As usual.
Not to say the republican party is in anyway a friend to the workers
The part that really kills me is that most Democrats have the right ideas. They understand both what is at stake and what should be done. Its that they have no balls to actually accomplish anything.
We have to accept that the Dems being incompetent somehow, is not better than the truth of their complicity.
I posted that video of the Daily Show from like 2 weeks ago that shows how they are unable to accomplish anything because of this self-inflicted prim-and-proper bullshit that the other side simply doesn't give a shit about.
Even just for show, grill CEOs in front of Congress. Make them sweat. Big circus - cameras, reporters, the like.
Reduce financial benefits of buybacks through tax code.
Feds buy LOT of things - use contractual clause that favor lower CEO-to-worker salary ratios.
Do something
Has it ever actually done this?
Cause corporate consolidation *always* leads to lower prices and better benefits and better service to the customer...
Certainly not better payout to shareholders.
🫏🤡🫏🤡
King Soopers,
Ralphs,
Fred Meyer...?
That corporations name? Buy 'N Large.
The film? Wall-E
Reagan fixed that, and a lot of other things.
The wealth was going to trickle down. 40 years later, it still hasn't.
We shouldn't be surprised. Corporate management greed in America has no morals. Of course they would lie.
Especially when they see the most egregious liars in America don't pay a price. In fact, they are rewarded...
That is why advocates are so important
Educating the public is essential, but we need to find ways that reach those who need to be entertained
I believe that will be the difference between success and failure
I agree with you 💯 percent on this matter, Mary.
It's all comes down to messaging. Maybe we should spoon-feed the information to them using 'Schoolhouse Rock' as a model. It has been many decades, but I can still recall the lyrics to most of those songs. 😉
But, wow, if only the two giants merged, they claim, they would have saved consumers money.
Such public-spirited giants
Oh, I’m being told that the shareholders would REALLY like to have more market share. 😒
Total Annual Bathroom Time:
Annual Salary: $15,000,000.
Based on an average of 14 minutes per workday spent in the restroom, you would earn approximately $437,491.60 annually during bathroom breaks.
14 minutes/day × 5 days/week × 52 weeks/year = 3,640 minutes/year.
3,640 minutes ÷ 60 = ~60.67 hours/year.
Earnings Per Working Minute:
Annual Salary: $15,000,000.
Earnings per Working Minute: $15,000,000 ÷ 124,800 ≈ $120.19/minute.
Annual Earnings for Bathroom Time:
60.67 hours × 60 minutes/hour = 3,640 minutes/year.
3,640 minutes × $120.19/minute ≈ $437,491.60.
profits and stock prices should be shot. 15 million $$$. Who in God’s name is worth that kind of money? And most get paid far more. When a baseball player signs a
780+ million $ contract with ticket prices only wealthy can afford something is wrong.
Corporate double-talk!
This, right here, is a fine example of capitalism run amok, and one of several reasons why I despise capitalism as the primary driving force in the U.S. economy. Many other allied nations do far better for their residents using many different economic models. 😒
2024 "it's the Monopolies, stupid" The .1% who own the media
and the Senate and House and now the Oval Office.
😏
(apologies to Tolkien)
What’s the worst that could happen? 😈 😜
Nothing like price gouging eggs during a pandemic.
It was blocked and last I heard Albertsons was suing..?
Albertson's and Vons are the most expensive stores there are. As a customer, I want choices.
It's extraordinary what's going on w their prices....but people continue to fill their carts to the brim.
I’m starting to think everyone Trump wants in power hates America