The Nation's Financial Condition

[a fan]

lmart doesn’t equal Kroger/wegmanns/alberstons/publix/etc

Not yet. But they're trying (see the Kroger-Albertson's merger). Coscto has this much power right now.

Yes they could be called a grocer today but that isn’t what they are. They are the only coming in the world to have a positive cash conversion cycle of any retailer by a margin. (Meaning they sell inventory in average faster than they pay suppliers which is unheard of for literally everyone else in the world). The rest are a very different animal. And most grocers wouldn’t be able to carry your product anyway we’re talking super tight thin margins.

Costco, Whole Foods, Trader Joes, Albertsons, Target, Kroger....all carry our wares at some point during the year, if not year-round.

FWIW....Costco's mark-up is lower than even the biggest liquor chain on our wares (they buy full pallets). The rest are on par or higher.

Just thought you might find the spirits side of the discussion interesting.....

The analysis that they are the pricing problem Va the commodity supplier whose industry hasn’t been properly managed by antitrust regulatory oversight. To suggest it’s the grocers is why one stupid though. They’re more likely to go out of business than be a reason for inflation that’s reality. I’m responding to the ask idiot who tosses bombs here.

Yeah, heard. I get it.

My whole point is you can’t be serious in your analysis if you suggest the thinnest of margin businesses in the chain are the reason for inflation. That’s just idiotic. But one clown posts “proof”!

Well come on, consider the source! Your point is well made.

[MDlaxfan76]

This is an average across an industry that is consolidating with smaller retailers squeezed hard by larger companies taking increasing share.

Yep. My brother is a member of the largest co-op of independent grocers in the US. He said their co-op was hoping for the Kroger-Aldersons (& Safeway) merger to go through, (which Lina Khan's FTC has blocked), so there'd be someone big enough to compete with Walmart (& Sam's club) who they see as their primary predatory threat. He says that Kroger is non-union & very well managed company ; Aldersons is union & afu -- at least that's the consensus of his co-op of independents.

Which co-op, TOPCO? AWG or Wakefern?

Yes, the Kroger Albertson's merger would better compete with Amazon and Walmart. Kroger is UFCW unionized and is indeed well managed. Albertsons (Safeway and other banners) is also UFCW, not as well managed apparently. UFCW is opposed to the merger.

Would this lead to lower prices at these traditional grocers? IMO, probably.

Walmart and Amazon are already price focused and primarily take share from independents as well as these guys. Add to that the Dollar Stores and other non full line deep discovers and independents are badly squeezed. They have neither the purchasing power nor the digital technology and footprint to compete on price. They're also often slow to adopt technology that would help. So, they do best when located in markets that are less price sensitive and willing to pay for service and specialty quality levels.

Tough spot for independents without such advantages. Co-op helps.

[MDlaxfan76]

Not for nothing, but 1.6% is 60% higher margin than 1%.

This is an average across an industry that is consolidating with smaller retailers squeezed hard by larger companies taking increasing share.

Are you pissing in 1.6% margins as “too high”.

Have you seen what rent and occupancy costs have been for this same sector the last twenty years? Seriously this is dumb. Blame the financialization of CRE in since the change in the tax code
In the mid 80s and evolutions of both REITs and securitization has more
To do with this than grocers.

And again tossing in egg or poultry producer bad behavior with grocers is stuff I and bad faith conflation of two different businesses and business models. We
Shouldn’t even be entertaining that dumbass stupid post and just dismiss it as the stupid thoughtless advocate garbage it is.

Watch this clown claim I offer no solutions but what is this complain ass dudes conclusion he’s just tossing bombs at a really tough industry. Then he will be a bigger complain when a couple grocers go under and now there’s more dollar general fueled deserts that are caused by his stupid inaccurate and incorrect analysis drove a few grocers under and point the finger again instead of realizing their bs drove the situation to where it is today.

No, I'm not. And I agree that this is way less of a grocer problem than producer problem, transportation, etc. Fuel prices coming down should help.

The grocer end, however, has been a quite "lazy" or "sleepy"industry, very slow to recognize ways to actually improve margins through increased customer basket size. They took huge profits during the pandemic with increases in 'share of stomach' due to restaurant closures. Much higher weekly sales per customer household were flowing through grocers.

They've had their lunch eaten by fast and fast casual restaurants for 4 decades with little effective response, just consolidation for purchasing power dynamics. There are exceptions, thankfully, but by and large very slow moving industry.

[Farfromgeneva]

lmart doesn’t equal Kroger/wegmanns/alberstons/publix/etc

Not yet. But they're trying (see the Kroger-Albertson's merger). Coscto has this much power right now.

Yes they could be called a grocer today but that isn’t what they are. They are the only coming in the world to have a positive cash conversion cycle of any retailer by a margin. (Meaning they sell inventory in average faster than they pay suppliers which is unheard of for literally everyone else in the world). The rest are a very different animal. And most grocers wouldn’t be able to carry your product anyway we’re talking super tight thin margins.

Costco, Whole Foods, Trader Joes, Albertsons, Target, Kroger....all carry our wares at some point during the year, if not year-round.

FWIW....Costco's mark-up is lower than even the biggest liquor chain on our wares (they buy full pallets). The rest are on par or higher.

Just thought you might find the spirits side of the discussion interesting.....

The analysis that they are the pricing problem Va the commodity supplier whose industry hasn’t been properly managed by antitrust regulatory oversight. To suggest it’s the grocers is why one stupid though. They’re more likely to go out of business than be a reason for inflation that’s reality. I’m responding to the ask idiot who tosses bombs here.

Yeah, heard. I get it.

My whole point is you can’t be serious in your analysis if you suggest the thinnest of margin businesses in the chain are the reason for inflation. That’s just idiotic. But one clown posts “proof”!

Well come on, consider the source! Your point is well made.

Yeah I’m a dog with a bone on that cat these days when he cheerleads on
Finance I think it’s a disservice to
Folks who care and don’t know as much about this stuff. All so he can feel better that his side is winning in his world.

[Farfromgeneva]

Not for nothing, but 1.6% is 60% higher margin than 1%.

This is an average across an industry that is consolidating with smaller retailers squeezed hard by larger companies taking increasing share.

Are you pissing in 1.6% margins as “too high”.

Have you seen what rent and occupancy costs have been for this same sector the last twenty years? Seriously this is dumb. Blame the financialization of CRE in since the change in the tax code
In the mid 80s and evolutions of both REITs and securitization has more
To do with this than grocers.

And again tossing in egg or poultry producer bad behavior with grocers is stuff I and bad faith conflation of two different businesses and business models. We
Shouldn’t even be entertaining that dumbass stupid post and just dismiss it as the stupid thoughtless advocate garbage it is.

Watch this clown claim I offer no solutions but what is this complain ass dudes conclusion he’s just tossing bombs at a really tough industry. Then he will be a bigger complain when a couple grocers go under and now there’s more dollar general fueled deserts that are caused by his stupid inaccurate and incorrect analysis drove a few grocers under and point the finger again instead of realizing their bs drove the situation to where it is today.

No, I'm not. And I agree that this is way less of a grocer problem than producer problem, transportation, etc. Fuel prices coming down should help.

The grocer end, however, has been a quite "lazy" or "sleepy"industry, very slow to recognize ways to actually improve margins through increased customer basket size. They took huge profits during the pandemic with increases in 'share of stomach' due to restaurant closures. Much higher weekly sales per customer household were flowing through grocers.

They've had their lunch eaten by fast and fast casual restaurants for 4 decades with little effective response, just consolidation for purchasing power dynamics. There are exceptions, thankfully, but by and large very slow moving industry.

Just such a critical industry I don’t want to see bad information tossed around.

Btw I was in mtns on sc/nc border this weekend (Ceasars head mtn, between Brevard NC and Greenville SC basically, between lake Lure of dirty dancing fame and cashiers), the dollar generals are finally carrying some fresh produce and not just frozen pizzas and baloney so some pressure is changing their model in the food dessert arena.

Think about how much grocers anchor other retail and drive traffic as well. You lose grocers you lose rents for all the in line tenants. This is worse than my sister finally realizing their fighting all development and scale in the Bay Area has court and caused more housing cost and supply issues. We let clowns toss bombs at this industry and hurt it and we all lose/

[old salt]

This is an average across an industry that is consolidating with smaller retailers squeezed hard by larger companies taking increasing share.

Yep. My brother is a member of the largest co-op of independent grocers in the US. He said their co-op was hoping for the Kroger-Aldersons (& Safeway) merger to go through, (which Lina Khan's FTC has blocked), so there'd be someone big enough to compete with Walmart (& Sam's club) who they see as their primary predatory threat. He says that Kroger is non-union & very well managed company ; Aldersons is union & afu -- at least that's the consensus of his co-op of independents.

Which co-op, TOPCO? AWG or Wakefern?

Yes, the Kroger Albertson's merger would better compete with Amazon and Walmart. Kroger is UFCW unionized and is indeed well managed. Albertsons (Safeway and other banners) is also UFCW, not as well managed apparently. UFCW is opposed to the merger.

Would this lead to lower prices at these traditional grocers? IMO, probably.

Walmart and Amazon are already price focused and primarily take share from independents as well as these guys. Add to that the Dollar Stores and other non full line deep discovers and independents are badly squeezed. They have neither the purchasing power nor the digital technology and footprint to compete on price. They're also often slow to adopt technology that would help. So, they do best when located in markets that are less price sensitive and willing to pay for service and specialty quality levels.

Tough spot for independents without such advantages. Co-op helps.

AWG-KC. Serviced via the Springfield, MO distribution center. AWG is a big help with tech & marketing. They're hangin' in there.

Left AG-StL before they closed down.

[Farfromgeneva]

Pivotal Week Ahead in Kroger-Albertsons Case After FTC Lands Early Blows
Government lawyers have cited internal business documents to question whether deal would deplete competition in the grocery industry

Dave MichaelsSept. 3, 2024 at 8:00 am

Expert witnesses retained by the FTC will testify in the coming days that grocery prices for everyday Americans could rise if Kroger and Albertsons combine, because they are the two last traditional grocery operators competing head-to-head in markets across the country.

Last week, the FTC focused on attacking the companies’ proposed solution for any diminishment in competition: selling over 500 stores to a new would-be rival, C&S Wholesale Grocers.

FTC lawyers said New Hampshire-based C&S, which operates 23 stores today but supplies more than 7,000, is far from a sure bet to keep markets competitive.

Testimony so far has focused on obstacles that C&S would face to stand up new brands, technology systems and supply chains at the 579 stores it would acquire.

C&S would be able to operate some of the stores it acquires under their current names, such as Safeway in Colorado and Arizona. But C&S would have to change the name of 286 stores, applying new brands that are unknown to local shoppers.

In Oregon and Washington, for instance, C&S would have to rename more than 100 stores currently operating as Safeways.


The FTC claims that Albertsons and Kroger are each other’s major competitors and that combining them would cause consumers to pay more. Photo: Kyle Grillot/Bloomberg News
A C&S consultant estimated that sales at rebannered stores could fall by as much as 22%, according to testimony by Alona Florenz, C&S’s senior vice president for corporate development. C&S will have to stand up new customer loyalty programs and introduce new private-label brands, a major source of profit for grocery chains.

C&S’s executives have admitted some of the deal’s complications, according to internal communications introduced as evidence by the FTC. “Kroger gave us their worst chains,” C&S’s head of corporate development wrote last year, after a colleague noted that one of the chains it would acquire, QFC, has a bad reputation for high prices.

The FTC’s case has also raised questions about whether C&S plans to operate the stores long term, or is buying them to boost its wholesale business, which lost its biggest grocery customer in 2019. C&S has relatively little market penetration in the Rocky Mountain states and the fast-growing southwest, its executives testified. C&S would get 101 Albertsons-owned stores in Arizona and 91 in Colorado.

“Do we have to say that we won’t close stores?” a C&S board member asked the company’s current chief executive officer, Eric Winn, according to an email the FTC showed in court on Friday. The board member also asked, “Are we committed to this?”

C&S says it is committed to becoming a major supermarket operator. The company’s owner, Rick Cohen, is funding $500 million of the $2.9 billion deal. “This is a family’s wealth they have committed,” Winn said in testimony last week.


Kroger CEO Rodney McMullen and Albertsons CEO Vivek Sankaran testified about the proposed merger at a 2022 Senate subcommittee hearing. Photo: JONATHAN ERNST/REUTERS
The FTC told U.S. District Judge Adrienne Nelson that an earlier megamerger involving Albertsons posed the same risks—and backfired on everyone. The FTC in 2015 allowed Albertsons to buy Safeway on the condition that it sell 146 stores to Haggen, a small, West Coast grocery chain. Haggen went bankrupt eight months later, closing 83 stores in California.

Testimony last week revealed that even some Albertsons executives recall how bruised employees still feel by Haggen’s failure in 2015.

“There is still a tremendous amount of anxiety found in the 34,000 associates,” Kevin Curry, Albertsons’s president for southern California, wrote to a colleague weeks after the Kroger deal was announced.

The FTC says Kroger would have the ability to raise prices in many markets if the merger goes through. Kroger says it plans to lower prices by $1 billion if it completes the deal.

The company says it needs more scale to compete with Walmart and against a swarm of newer food retailers, including Trader Joe’s, discount chains such as Aldi and Lidl, and club stores such as Costco.

SHARE YOUR THOUGHTS

Do you think a Kroger-Albertsons deal would be good or bad for consumers? Join the conversation below.

Kroger CEO Rodney McMullen and Albertsons CEO Vivek Sankaran are likely to testify this week about their reasoning for the deal. Defense lawyers are also expected to call their own expert witnesses to rebut the FTC’s claim that Kroger and Albertsons are each other’s major competitors and that combining them would cause consumers to pay more.

Portland’s towering downtown courthouse, rarely the setting for major antitrust cases, has provided the backdrop for one of the FTC’s most important merger lawsuits in years. Nelson, an appointee of President Biden, hasn’t asked any questions that reveal her views on the case. Around town, the proceedings haven’t registered with many shoppers.

The Albertsons-owned Safeway brand is perceived to be more expensive in the city, said Sarah Finch, a public school teacher who sometimes stops at one in Portland’s funky Hawthorne neighborhood on her drive home from work. C&S would acquire the Safeway if the deal goes through, and would have to rename it.

Kroger operates in the area under the Fred Meyer brand, which it acquired in 1998. At one of its stores less than a mile from the Safeway, Kitleigh Clark, who works in homeowner association property management, said the chain some call Freddy’s remains a source of local identity. “I thought I could be a part of this community by coming here,” said Clark, who moved to Portland from the Bay Area 15 years ago.

Write to Dave Michaels at [email protected]

[old salt]

FU Lina Khan. Where do we shareholders go to recover our lost equity ?

https://www.statnews.com/2024/09/03/eur ... -decision/

European court sides with Illumina, saying regulators overstepped in scrutiny of Grail deal

Illumina will no longer have to pay a $475 million fine as a result of the ruling

by Andrew Joseph Sept. 3, 2024

LONDON — Europe’s top court on Tuesday ruled that regulators overstepped in challenging the DNA sequencing behemoth Illumina’s acquisition of Grail, finding that the European Commission did not have jurisdiction over the deal.

The decision won’t have a major impact on the Illumina-Grail relationship, with Illumina having divested the cancer screening company over the summer. But as a result, Illumina won’t have to pay the 432 million Euro (about $475 million) fine that the commission sought to impose on the San Diego-based company.

https://www.reuters.com/markets/deals/e ... 024-09-03/

Illumina wins Grail battle in blow to EU merger power

by Foo Yun Chee, September 3, 2024

BRUSSELS, Sept 3 (Reuters) - U.S. gene sequencing company Illumina (ILMN.O), opens new tab on Tuesday won its court fight against the European Union's investigation of its $7.1 billion purchase of cancer diagnostic test maker Grail (GRAL.O), opens new tab, a ruling set to curb Brussels' merger powers.
Illumina, which founded Grail and spun it off in 2016 only to re-acquire it in 2021 for $7.1 billion, had fought against the European Commission's decision to wield a rarely-used power called Article 22 to assess the deal even though it was below the EU's merger revenue threshold.

The case has been closely watched by companies wary of EU scrutiny of minor deals and regulatory over-reach but which regulators fear could be so-called killer acquisitions in which big companies buy startups to shut them down, especially in the technology and pharmaceutical sectors.
However, the victory may have limited implications for Illumina, which spun off Grail again in June to comply with an EU order, keeping a minority stake of 14.5%.

The EU's General Court had in 2022 ruled in favour of the Commission after Illumina challenged the EU merger review that was triggered by requests from several EU countries.
The higher Court of Justice of the European Union (CJEU), however, sided with Illumina.
"The Court of Justice sets aside the judgment of the General Court and annuls the decisions by which the Commission accepted requests from national competition authorities seeking the examination of the proposed concentration," CJEU judges said.
"The Commission is not authorised to encourage or accept referrals of proposed concentrations without a European dimension from national competition authorities where those authorities are not competent to examine those proposed concentrations under their own national law," they said.
The Court said it was important that EU regulators stick to the revenue threshold for examining a merger because this was an important guarantee of foreseeability and legal certainty for companies.

The Commission, the EU's competition enforcer, blocked the deal in 2022 and ordered Illumina to divest Grail. It also fined Illumina 432 million euros ($478 million) for closing the deal in 2021 before securing its approval.
Illumina said the CJEU ruling meant it did not have to pay the fine. Its challenge against the EU veto of the deal also becomes moot.
"Today's judgment confirms Illumina's longstanding view that the European Commission exceeded its authority by asserting jurisdiction over this merger. The basis for the 432 million euro fine has now been removed and will no longer be payable," it said.
The ruling is final and cannot be appealed.
EU antitrust chief Margrethe Vestager said she would carefully study the judgment and its implications.
"More generally, we will consider the next steps to ensure that the Commission is able to review those few cases where a deal would have an impact in Europe but does not otherwise meet the EU notification thresholds," she said.
The cases are Cases C-611/22 P Illumina v Commission and C-625/22 P Grail v Commission.

[Seacoaster(1)]

FU Lina Khan. Where do we shareholders go to recover our lost equity ?

https://www.statnews.com/2024/09/03/eur ... -decision/

European court sides with Illumina, saying regulators overstepped in scrutiny of Grail deal

Illumina will no longer have to pay a $475 million fine as a result of the ruling

by Andrew Joseph Sept. 3, 2024

LONDON — Europe’s top court on Tuesday ruled that regulators overstepped in challenging the DNA sequencing behemoth Illumina’s acquisition of Grail, finding that the European Commission did not have jurisdiction over the deal.

The decision won’t have a major impact on the Illumina-Grail relationship, with Illumina having divested the cancer screening company over the summer. But as a result, Illumina won’t have to pay the 432 million Euro (about $475 million) fine that the commission sought to impose on the San Diego-based company.

https://www.reuters.com/markets/deals/e ... 024-09-03/

Illumina wins Grail battle in blow to EU merger power

by Foo Yun Chee, September 3, 2024

BRUSSELS, Sept 3 (Reuters) - U.S. gene sequencing company Illumina (ILMN.O), opens new tab on Tuesday won its court fight against the European Union's investigation of its $7.1 billion purchase of cancer diagnostic test maker Grail (GRAL.O), opens new tab, a ruling set to curb Brussels' merger powers.
Illumina, which founded Grail and spun it off in 2016 only to re-acquire it in 2021 for $7.1 billion, had fought against the European Commission's decision to wield a rarely-used power called Article 22 to assess the deal even though it was below the EU's merger revenue threshold.

The case has been closely watched by companies wary of EU scrutiny of minor deals and regulatory over-reach but which regulators fear could be so-called killer acquisitions in which big companies buy startups to shut them down, especially in the technology and pharmaceutical sectors.
However, the victory may have limited implications for Illumina, which spun off Grail again in June to comply with an EU order, keeping a minority stake of 14.5%.

The EU's General Court had in 2022 ruled in favour of the Commission after Illumina challenged the EU merger review that was triggered by requests from several EU countries.
The higher Court of Justice of the European Union (CJEU), however, sided with Illumina.
"The Court of Justice sets aside the judgment of the General Court and annuls the decisions by which the Commission accepted requests from national competition authorities seeking the examination of the proposed concentration," CJEU judges said.
"The Commission is not authorised to encourage or accept referrals of proposed concentrations without a European dimension from national competition authorities where those authorities are not competent to examine those proposed concentrations under their own national law," they said.
The Court said it was important that EU regulators stick to the revenue threshold for examining a merger because this was an important guarantee of foreseeability and legal certainty for companies.

The Commission, the EU's competition enforcer, blocked the deal in 2022 and ordered Illumina to divest Grail. It also fined Illumina 432 million euros ($478 million) for closing the deal in 2021 before securing its approval.
Illumina said the CJEU ruling meant it did not have to pay the fine. Its challenge against the EU veto of the deal also becomes moot.
"Today's judgment confirms Illumina's longstanding view that the European Commission exceeded its authority by asserting jurisdiction over this merger. The basis for the 432 million euro fine has now been removed and will no longer be payable," it said.
The ruling is final and cannot be appealed.
EU antitrust chief Margrethe Vestager said she would carefully study the judgment and its implications.
"More generally, we will consider the next steps to ensure that the Commission is able to review those few cases where a deal would have an impact in Europe but does not otherwise meet the EU notification thresholds," she said.
The cases are Cases C-611/22 P Illumina v Commission and C-625/22 P Grail v Commission.

This has nothing to do with “the nation’s financial condition.” It is only concerned with your axe-grind… and the EU’s scope of anti-competition enforcement. You’re a sad old man complaining about the government, a caricature of an angry dude spewing whatever he can.

[old salt]

FU Lina Khan. Where do we shareholders go to recover our lost equity ?

https://www.statnews.com/2024/09/03/eur ... -decision/

European court sides with Illumina, saying regulators overstepped in scrutiny of Grail deal

Illumina will no longer have to pay a $475 million fine as a result of the ruling

This has nothing to do with “the nation’s financial condition.” It is only concerned with your axe-grind… and the EU’s scope of anti-competition enforcement. You’re a sad old man complaining about the government, a caricature of an angry dude spewing whatever he can.

Apparently you missed the fact that the post preceding mine dealt with another of Lina Khan's controversial FTC merger cases.

[Typical Lax Dad]

FU Lina Khan. Where do we shareholders go to recover our lost equity ?

https://www.statnews.com/2024/09/03/eur ... -decision/

European court sides with Illumina, saying regulators overstepped in scrutiny of Grail deal

Illumina will no longer have to pay a $475 million fine as a result of the ruling

This has nothing to do with “the nation’s financial condition.” It is only concerned with your axe-grind… and the EU’s scope of anti-competition enforcement. You’re a sad old man complaining about the government, a caricature of an angry dude spewing whatever he can.

Apparently you missed the fact that the post preceding mine dealt with another of Lina Khan's controversial FTC merger cases.

She will be a DEI casualty soon enough. Just wait.

[old salt]

Pivotal Week Ahead in Kroger-Albertsons Case After FTC Lands Early Blows
Kroger says it plans to lower prices by $1 billion if it completes the deal.

The company says it needs more scale to compete with Walmart and against a swarm of newer food retailers, including Trader Joe’s, discount chains such as Aldi and Lidl, and club stores such as Costco.

That is also the position of my brother's co-op, AWG, which is the largest co-op of independent grocers in the US.
Walmart, the big box stores & the case cutters are the monopolistic threat.
They're killing off smaller independent grocers & creating food deserts.
Kroger will make Albersons stronger & increase the chances of more Albersons & Safeway stores surviving.

[youthathletics]

Pivotal Week Ahead in Kroger-Albertsons Case After FTC Lands Early Blows
Kroger says it plans to lower prices by $1 billion if it completes the deal.

The company says it needs more scale to compete with Walmart and against a swarm of newer food retailers, including Trader Joe’s, discount chains such as Aldi and Lidl, and club stores such as Costco.

That is also the position of my brother's co-op, AWG, which is the largest co-op of independent grocers in the US.
Walmart, the big box stores & the case cutters are the monopolistic threat.
They're killing off smaller independent grocers & creating food deserts.
Kroger will make Albersons stronger & increase the chances of more Albersons & Safeway stores surviving.

Friend of mine works for one of the largest seafood suppliers in the US, here in MD, its eye opening when he shares how they can have a stranglehold on product and price.

[Kismet]

Pivotal Week Ahead in Kroger-Albertsons Case After FTC Lands Early Blows
Kroger says it plans to lower prices by $1 billion if it completes the deal.

The company says it needs more scale to compete with Walmart and against a swarm of newer food retailers, including Trader Joe’s, discount chains such as Aldi and Lidl, and club stores such as Costco.

That is also the position of my brother's co-op, AWG, which is the largest co-op of independent grocers in the US.
Walmart, the big box stores & the case cutters are the monopolistic threat.
They're killing off smaller independent grocers & creating food deserts.
Kroger will make Albersons stronger & increase the chances of more Albersons & Safeway stores surviving.

Friend of mine works for one of the largest seafood suppliers in the US, here in MD, its eye opening when he shares how they can have a stranglehold on product and price.

and then there is this

https://www.nytimes.com/2024/08/31/busi ... onomy.html

"For Generations of Alaskans, a Livelihood Is Under Threat

Something is broken in the economics of the state’s fishing industry and the communities that have long depended upon it. Can Washington come to the rescue?
Last year, however, the local industry faced as deep a crisis as anyone could remember — even those who had seen the ups and downs of fishing for generations.

It wasn’t a lack of fish. With a few exceptions, the runs were nearly as good as they’ve ever been. But toward the end of last summer, nobody wanted to buy them. Processors, having already slashed by half the prices they paid fishermen for salmon, started turning them away entirely.

The reasons are complex. Over the last few years, the $6 billion Alaskan wild seafood market has been mired in a mix of geopolitics, macroeconomics, changing ocean temperatures and post-Covid whiplash that piled on top of long-building vulnerabilities in the business model.

Inflation-weary consumers turned from fish to less expensive protein sources like chicken. The strong dollar and the collapse of the yen made it difficult to sell to Japanese consumers, who have been eating less fish and high-value roe than generations past. And Russia — straining under sanctions to finance its war in Ukraine — began dumping salmon and pollock, the white fish used in fish sticks and filet-of-fish sandwiches, into the U.S. market.

Even for an inherently cyclical industry, the convergence of problems — decreasing industry revenues by $1.8 billion and state and local tax collections by $269 million, according to the Commerce Department — has no historical parallel."

[a fan]

Pivotal Week Ahead in Kroger-Albertsons Case After FTC Lands Early Blows
Kroger says it plans to lower prices by $1 billion if it completes the deal.

The company says it needs more scale to compete with Walmart and against a swarm of newer food retailers, including Trader Joe’s, discount chains such as Aldi and Lidl, and club stores such as Costco.

That is also the position of my brother's co-op, AWG, which is the largest co-op of independent grocers in the US.
Walmart, the big box stores & the case cutters are the monopolistic threat.

That's right. And we have Republicans screaming at her, calling her a DEI hire, DEMANDING that sh stop breaking up monopolies like WalMart.

Remember?

Or are you going to call her up and tell her just "not to break up the monopolies that Old Salt owns stock in".

Because what you are asking for here makes total sense.

[OCanada]

Let’s see the financials or at least the profitability.

There is not enough competition in the economy. Adam Smith would be appalled. Events like this are intended to lessen competition and are bad for a capitalist system which assumes there will be competition.

[a fan]

Let’s see the financials or at least the profitability.

There is not enough competition in the economy. Adam Smith would be appalled. Events like this are intended to lessen competition and are bad for a capitalist system which assumes there will be competition.

Yep. It's why I keep saying: these aren't capitalists. These are members of selfish-ocracy. Whatever make them more money? That's what they're for.

[a fan]

Simple solution: Federalize it. We're already propping US Steel up, and preventing market forces and competition from working.

It's clear this is a US military component, and key to infrastructure. Federalize it. Problem solved.





https://www.cbsnews.com/news/u-s-steel- ... use-biden/

[old salt]

Pivotal Week Ahead in Kroger-Albertsons Case After FTC Lands Early Blows
Kroger says it plans to lower prices by $1 billion if it completes the deal.

The company says it needs more scale to compete with Walmart and against a swarm of newer food retailers, including Trader Joe’s, discount chains such as Aldi and Lidl, and club stores such as Costco.

That is also the position of my brother's co-op, AWG, which is the largest co-op of independent grocers in the US.
Walmart, the big box stores & the case cutters are the monopolistic threat.

That's right. And we have Republicans screaming at her, calling her a DEI hire, DEMANDING that sh stop breaking up monopolies like WalMart.

Remember?

Or are you going to call her up and tell her just "not to break up the monopolies that Old Salt owns stock in".

Because what you are asking for here makes total sense.

You're misinformed. She's not going after Walmart. She's helping Walmart by preventing 2 grocery-only chains from combining resources to better compete with Walmart & protect their smaller market stores from Walmart's predatory expansion. She's helping Walmart.

[youthathletics]

Go get em Joe....need you on this one, its you forte: https://www.msn.com/en-us/news/politics ... 0b406&ei=9