Massive #GroceryStore Chain Merger That Irked Courts, Is Off After Being Blocked By Federal Judges, Now The Army Of #Lawyers From One Jilted Party Are Suing The Other Proposed Partners In #Supermarket #Lawfare... One side is alleging a willful breach of contract saying other party was not doing enough to win regulatory approval for the #merger.

In The Works Since Announced In 2022, The Proposed #Merger Would Have Involved #Kroger who also operates as Fred Meyer and #QFC, as well as #Albertsons parent corp of #Safeway. Tens of thousands of #unionworkers would've been affected. Kroger, in a statement in response, said Albertsons is deflecting its own responsibility.

https://www.npr.org/2024/12/11/nx-s1-5225411/albertsons-sues-kroger-grocery-supermarket-merger

https://www.denver7.com/news/national/a-federal-judge-temporarily-halts-the-proposed-supermarket-merger-of-kroger-and-albertsons

https://oregoncapitalchronicle.com/2024/12/11/albertsons-sues-kroger-after-oregon-washington-judges-block-24-6-billion-merger/

Filing: #Kroger paid #CEO $19M in 2022, typical worker almost $29K

by Alexander Coolidge Cincinnati Enquirer
May 12, 2023

"Kroger CEO #RodneyMcMullen got a 5.7% pay raise in 2022 as his compensation package climbed $1 million to $19 million, according to a corporate filing Friday morning with the U.S. Securities and Exchange Commission.

"The head of the nation's largest supermarket retailer was paid $18 million in the previous year, according to the Associated Press' methodology for executive compensation that excludes pension value changes.

"The typical worker got an $1,800 pay raise, climbing 7% in 2022 to $28,644. The ratio of McMullen's pay to the median Kroger worker – as required to be reported by the government – was 671 to 1, a decline from the ratio of 679 to 1 in the previous year.

"Kroger earned a $2.2 billion #profit on sales of $148 billion last year. In 2022, Kroger contended with higher costs as inflation soared. Overall inflation eased in 2022, climbing 6.4% - slower than 7.2% a year earlier. But the cost of food purchased at #supermarkets and #supercenters rose at a faster rate: 11.8% - the worst calendar year increase since 1978, according to the U.S. Bureau of Labor Statistics.

"Also last year, the grocer proposed acquiring rival #Albertsons in a $25 billion takeover bid that regulators at the Federal Trade Commission are mulling whether to approve or fight.

"In addition to Kroger stores, the Cincinnati-based grocer operates several regional supermarket chains in 35 states, including #FredMeyer, #HarrisTeeter, #Ralphs, #Marianos, #Frys, Smith's, #KingSoopers, #QFC and others. The company has nearly 2,800 stores and employs 430,000 workers."

https://www.cincinnati.com/story/money/2023/05/12/kroger-ceo-paid-19m-in-2022-while-median-worker-earned-28-6k/70211231007/

#CorporatePriceGouging #Inflation #CEOPay #ObsceneProfits #FoodInsecurity #PeopleAndPlanetOverProfits #PriceGouging

Proposed #Kroger #Albertsons #megamerger affects future of #FredMeyer, #Safeway, #Vons, #Osco, #Food4Less, #HarrisTeeter #QFC stores too. Together, the two chains operate approx 5 thousand of consolidated #RetailStores under varous #BrandNames across #US and have annual revenue of more than $209 billion.

#AntiTrust issues arise everywhere, with nearly 200 #grocerystores between them in #Oregon alone, many within a mile of each other. State Attorney Generals have sought to block the massive #merger, but everyone knows #BigMoney talks loudest.

To meet #FTC requirements this week the chains announced plan to #divest at least 400 #stores to a single #SoftBank backed holding corp that operates #PigglyWiggly

https://www.oregonlive.com/business/2023/08/kroger-ceo-rodney-mcmullen-makes-case-for-proposed-albertsons-merger.html

this is fantastic

https://www.seattletimes.com/seattle-news/fred-meyer-qfc-illegally-barred-blm-pins-at-work-judge-rules/

i was there when they pulled this bullshit and to see that they refused to settle and lost makes it even better

#FredMeyer #QFC #Kroger #BLM #BlackLivesMatter #NLRB #UFCW