I thought Kroger was too greedy and cheap before especially in staffing their stores. They are more interested in record profits, bonuses, and dividends then fully staffing their store to provide coverage from open to close. I checked their financials. Guess what Krogers free cash flow is going down. How are they paying the nearly $25 billion(which they don't have) in cash to buy Albertsons? Unless they sell the 1,191,000,000 treasury shares to pay for it the merger will be paid with debt. Selling the treasury shares would defeat the purpose of buying back those shares in the first place. Just watch there will be more hiring freezes and no one will be replaced if someone quits, gets fired, or retires putting a greater strain current staff. We already have "great leadership" at the district level who don't care about staffing, don't want to hear about being under staffed, or don't want to hear excuses why things can't get done because of very low staffing. Kroger is in danger of being the next Sears/Kmart flop when they realize they overextended themselves and got too big. Customers and employees will be paying for this mess one way or another while corporate executives, Board of Directors, and lower management pats themselves on the back for record profits and counting their bonuses and dividends just before the bottom falls out. I for one will be keeping a close eye on Krogers financials after this merger is complete so the first sign of trouble I will be jumping ship.
My brother works for Safeway and he told me of the buyout. He said where he works, Safeway, won't feel much of an impact.
The merger meaning Albertsons and Kroger would be one big Superstore.
But why buy out Albertsons? I can only guess is that they are (or were) doing better than Kroger, and Kroger wanted to turn profits and save itself by buying a "better" company so to speak. Let's just hope things actually turn for the better
My brother said Safeway will.keep its name just have Kroger as the parent company.
I knew one day it would everything would be owned by the same 5 or 6 corporations. This is why I'm just saving until retirement. I'm more blessed than most people so I guess I can't complain that much. Yea it sucks but when the only jobs are offered by 500k corporations what are you going to do?
This thread will probably never be looked at by the big wigs (interesting term if you look it up).
