XPost: alt.retail.grocery, alt.america, alt.fan.rush-limbaugh   
   XPost: talk.politics.guns, sac.politics   
   From: democrat-insurrection@mail.house.gov   
      
   If the merger with Kroger doesn’t go through, the CEO of Albertsons Cos.   
   Inc. said in court Wednesday that his company might have to consider   
   layoffs and leave certain markets to remain competitive and financially   
   secure in the long term.   
      
   Vivek Sankaran testified for several hours in Denver District Court during   
   the second week of the trial in the state of Colorado’s lawsuit that seeks   
   to block the consolidation of the two supermarket chains. The Colorado   
   Attorney General’s Office contends that the $24.6 billion merger would   
   harm customers, store employees and suppliers to the chains because it   
   would reduce competition.   
      
   Kroger, which owns King Soopers and City Markets in Colorado, and   
   Albertsons, which owns Safeway, account for more than 50% of the   
   supermarket sales in Colorado, according to state attorneys. A merger of   
   the two competitors would violate state antitrust laws, the attorney   
   general’s office said.   
      
   But Sankaran said the two chains see merging as the best way to compete   
   against Walmart, first nationally in grocery sales, as well as such fast-   
   growing food sellers as Amazon and Costco. Walmart and Sam’s Club, owned   
   by Walmart, account for about a quarter of the country’s grocery business,   
   he said.   
      
   “We can do many things to improve the company, but at some point the   
   ability to compete with the Amazons and Costcos and Walmarts of the world,   
   you just need added scale. We knew we wouldn’t be able to get that by   
   ourselves,” Sankaran said.   
      
   Albertsons began looking for ways to grow and merging with another company   
   was one of the possibilities. Soon after Albertsons and Kroger announced   
   consolidation plans in October 2022, several United Food and Commercial   
   Workers locals, state and local officials came out in opposition.   
      
   The Federal Trade Commission has sued to put the merger on hold until it   
   can finish its proceedings aimed at stopping the companies’ plan. A   
   decision in the FTC’s lawsuit is pending.   
      
   A trial is underway in the lawsuit by Attorney General Bob Ferguson of   
   Washington state, whose complaints against the merger are similar to   
   Colorado’s.   
      
   In Colorado, Albertsons and Kroger are prime rivals in the grocery   
   industry, according to an analysis presented by the state last week in   
   court. The analysis produced by an expert witness for the state played   
   down the competition posed by Costco, Amazon, Whole Foods and other   
   retailers.   
      
   But asked who he sees as Albertsons’ biggest threat, Sankaran said   
   Walmart, Amazon and Costco are among his biggest worries. “These   
   competitors are growing so fast and they’re already large. They’re who I   
   worry about in the long run.”   
      
   Sankaran said data on where customers in Colorado shop shows that for   
   every $1 spent on groceries, Albertsons reaps 14 cents. Kroger takes in 16   
   cents and Amazon gets about 5 cents. Walmart captures the biggest share:   
   20 cents on the dollar. The rest of the money goes to a variety of   
   entities, including Whole Foods and Trader Joe’s.   
      
   To try to ensure there will be competition in the market after the merger,   
   Kroger and Albertsons have struck a $2.9 billion deal with C&S Wholesale   
   Grocers, which would buy 579 of their stores nationwide. In Colorado, C&S   
   would buy 91 Safeway and Albertsons stores and a dairy plant. Kroger would   
   retain 14 of the stores in the state.   
      
   Kroger and Albertsons have said C&S, a grocery distributor that now   
   operates just 25 retail grocery stores, has the resources to take over the   
   stores. But Roger Davidson, an industry consultant testifying Wednesday   
   for the state, said he expects that stores bought by C&S will see   
   declining revenue and some will likely close.   
      
   Davidson said C&S won’t have enough people or a strong enough retail   
   infrastructure to successfully run all the stores it plans to acquire.   
      
   Jason Slothouber with the attorney general’s office asked Sankaran about   
   the potential impacts on communities and workers if stores in more remote   
   parts of the state close after the merger.   
      
   “Even if C&S crashes and burns, you have this golden parachute for   
   yourself,” Slothouber said.   
      
   Sankaran acknowledged that he will receive a total of $43 million in   
   equity and severance if the merger is completed. “I realize it’s a lot of   
   money for a guy who came from India with a suitcase. I don’t take that   
   lightly,” he said.   
      
   But he called Slothhouber’s questions about stores closing and people   
   losing their jobs “hypotheticals” that he couldn’t answer.   
      
   Kroger and Albertsons have said that stores won’t close, people won’t lose   
   their jobs and wages will increase if the merger goes through. Prices will   
   drop because Kroger’s prices are 10% to 12% lower than Albertsons’ prices,   
   the companies have said.   
      
   Kroger has pledged to invest $1 billion in improvements, wages and   
   benefits, including $40 million in Colorado to lower prices.   
      
      
   --   
   We live in a time where intelligent people are being silenced so that   
   stupid people won't be offended.   
      
   Durham Report: The FBI has an integrity problem.  It has none.   
      
   No collusion - Special Counsel Robert Swan Mueller III, March 2019.   
   Officially made Nancy Pelosi a two-time impeachment loser.   
      
   Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden   
   fiasco, President Trump.   
      
   Under Barack Obama's leadership, the United States of America became the   
   The World According To Garp.  Obama sold out heterosexuals for Hollywood   
   queer liberal democrat donors.   
      
   President Trump boosted the economy, reduced illegal invasions, appointed   
   dozens of judges and three SCOTUS justices.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)