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Thursday, July 12, 2007


Putting the green in "green business"

If you live within driving distance of a Whole Foods, chances are you might shop there. They've got lots of organic food and other foods lacking in artificial ingredients, etc., and a general "green" consciousness. Their CEO, however, is interested in a very different kind of "green":
The chief executive of Whole Foods Market Inc. wrote anonymous online attacks against a smaller rival and questioned why anyone would buy its stock, before Whole Foods announced an offer to buy the other company this year.

The postings on Internet financial forums, made under the name "rahodeb," said Wild Oats Markets Inc. stock was overpriced. The statements predicted the company would fall into bankruptcy and then be sold after its stock fell below $5 per share.

In February, Whole Foods announced it would buy Wild Oats for about $565 million, or $18.50 per share.

The company acknowledged that the postings by "rahodeb" were written by CEO John Mackey.
Amazingly, there is no talk of prosecuting this money-grubbing crook for fraud; this only came out because the FTC is seeking to block the purchase of Wild Oats on antitrust grounds.

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