Friday, August 17, 2007

FTC Appeals Whole Foods Ruling

Is it just me or does someone in the FTC has a personal vendetta against Whole Foods or something?
Mitch Katz, a spokesman for the FTC, says the agency is now asking a
Washington, D.C., district court for a temporary injunction on the deal, pending
its appeal. Whole Foods and Wild Oats have agreed to hold off on any proceedings
to close the deal Monday at noon.

They should close the deal over the weekend in an emergency meeting or they might have to fight the FTC all the way to the Supreme Court. It is almost as if the FTC thinks when this deal closes Whole Foods will own all the organic fruit orchards in the US. Maybe the Whole Foods CEO kicked the FTC Chairman's dog or something.

The FTC should know full well that almost every supermarket has an Organic section nowadays. Whole Foods needs the merger to protect their market share from the Safeways and the Krogers of the world. I guess they should have called their merger deal "Project Fluffy Bunny" instead of "Project Goldmine."

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