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
New Directions in the Fight Against Hunger and Malnutrition: A Festschrift in Honor of Per Pinstrup-Andersen. Cornell University, Statler Hotel Amphitheater. The conference begins at 7:30 a.m. with breakfast and ends with a reception the following day with remarks by professor Pinstrup-Andersen at 2:25 p.m. For the schedule and details, click here.
My joint contribution with Malden Nesheim is from 1:40-2:00 p.m. on “the internationalization of the obesity epidemic: the case of sugar-sweetened sodas.”