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 the rescheduling of the lecture I was supposed to give on October 10. The taxi driver went through red light at entrance to the Pulaski, was pulled over and found to be driving without a license. We never made it. The lecture is on food politics. It starts at 6:00. Free and open to the public. The Newark Museum is at 49 Washington Street. This time, I’ll take the PATH.