CEOs of Jewel, Mariano’s parent companies defend proposed megamerger before Senate lawmakers

The chief executives of Kroger and Albertsons defended the proposed merger of their grocery companies before a group of skeptical senators Tuesday, saying the deal to combine the two largest traditional grocery companies in the U.S. would not lead to higher food prices for consumers.

In Illinois, Kroger owns 44 Mariano’s and about 10 Food 4 Less locations in the region. Albertsons operates more than 180 Jewel-Osco grocery stores throughout the state.On Tuesday, Klobuchar, chair of the antitrust subcommittee, pointed to communities “all across the country” where shoppers have the choice to shop at either a Kroger-owned or Albertsons-owned grocery store. “If those two stores are operated by the same owner, there’s no incentive to compete for customers or prices,” she said.

McMullen said Kroger would not close any grocery stores and would not lay off any workers in stores or in warehouses and manufacturing. “If [Kroger and Albertsons] can’t compete with Walmart, how would the spinoff company survive with only a few hundred stores?” said Lee, ranking Republican of the subcommittee.

JoeBiden How is it that we promote free markets around the globe 🌎 and Monopolies at home! This proposed merger would mean Less competition and higher prices for us. Mariano’s is another Whole Pay Check ( oops I meant Whole Foods) as is! This proposed Racket Cannot be allowed.

So grocery prices are up 11% a year under Biden; two chains say they can achieve economies of scale by merging; and our Senators are fighting the merger at the request of the unions. How much competition is there in the pay to play labor organizing business?

Evil monopolists

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Ending of ‘Glass Onion: A Knives Out Mystery’ Brutally Mocks Elon Musk-Type CEOsThe sequel to Rian Johnson’s killer murder mystery introduces a new crime and a batch of suspects—and its shocking finale is an on-point social critique for our times. I'll let you know when I get tired of it! I’m sure the comparisons between this film and Musk buying Twitter were always coincidental. But Blanc’s “Miles Bron is an idiot” line might be one of my favorite quotes of the move. Pass the BBQ sauce.
Source: thedailybeast - 🏆 307. / 63 Read more »

Why some tech CEOs are rooting for Elon MuskTech leaders want to see their workers stop pushing back. The man's a natural controversy magnet in a good way.. He's build an image of a savior that will lead humanity some day! No one's really rooting AGAINST him, but we see the writing on the wall and might as well mock his incompetence as he sinks one of the last old internet-type sites.
Source: verge - 🏆 94. / 67 Read more »

Spotify, Epic, Paddle CEOs delighted by Musk attack on App Store fees'I'm glad Elon is in the fight': Tech CEOs battling Apple's 30% App Store fee get unexpected ammo from Musk 30% for using the platform? OMG. All Apple products and services are overpriced. if you look up greed and control does tim cooks pic show up
Source: BusinessInsider - 🏆 729. / 51 Read more »

Kroger and Albertsons CEOs head to Capitol Hill for merger hearingThe Senate is holding a hearing today on Kroger's proposed $24.6B purchase of rival Albertsons. Here's what to know. TheDemocrats we do NOT need another huge Monopoly NO! We don't need fewer grocery store owners w/just a bunch of different names, giving the illusion of competitioin. EndMonopolies FTC NO MORE MONOPOLIES Honor Antitrust laws!!!!
Source: axios - 🏆 302. / 63 Read more »

Albertsons, Kroger CEOs to defend $25 bln merger to skeptical U.S. senatorsTop executives at Kroger Co and Albertsons Companies Inc are expected to face tough questions on Tuesday from lawmakers who worry the grocers' planned $25 billion merger will push up food prices at a time when inflation is a concern.
Source: Reuters - 🏆 2. / 97 Read more »

Albertsons, Kroger CEOs defend $25 bln merger to skeptical U.S. senatorsTop executives at Kroger Co and Albertsons Companies Inc on Tuesday defended their planned $25 billion merger before skeptical lawmakers who fear the deal would push up food prices at a time of high inflation.
Source: Reuters - 🏆 2. / 97 Read more »