Despite the efforts of the Federal Trade Commission (FTC) to block purchase of Wild Oats stores by Whole Foods on anti-trust grounds, a federal judge is allowing the merger to go through. As reported in today’s New York Times, Whole Foods believes that it needs the purchase to keep the company competitive. If Whole Foods’ competitiveness seems distasteful and inappropriate to its stated mission (as reportedly documented in FTC filings and reports of its CEO’s sometimes covert bloggings) , consider that it is a publicly traded company. Like all such companies, its primary responsibility it to stockholders and that means that it not only must make profits, but must grow and report growth to Wall Street every 90 days, or else. Shares of Whole Foods stocks rose yesterday by $3.33 so Wall Street thinks it’s doing something right. And you?
Next public appearance
This is a conversation about 101 Classic Cookbooks, 501 Classic Recipes (Rizzoli Books, 2013), with Clark Wolf, Marvin Taylor (curator NYU Fales Library), Rose Levy Beranbaum (author, The Cake Bible), and Madhur Jaffrey (actor and author). 7:30 p.m. 92ndY Tribeca, 200 Hudson St, Price $15, RSVP: here