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Poor and StupidHow big government, big business, big media and big academia block your road to financial freedom- and tell you it's for your own good. |
More Antitrust Madness
Boy, this is an awkward moment for Whole Foods CEO John Mackey, not to mention for the Bush Administration's antitrust policy. The Federal Trade Commission recently announced it will sue to block Whole Foods from buying Wild Oats, a competitor in the high-end, organic supermarket space.The FTC's argument is that "premium" organic-food peddlers don't compete against regular supermarkets, and its justification reads like promotional materials from Whole Foods. The FTC waxes lyrically about "the breadth and quality of their perishables -- produce, meats, fish, bakery items, and prepared foods -- and the wide array of natural and organic products and services and amenities they offer," adding that Whole Foods is not so much a supermarket as a "shopping 'experience.'" Mr. Mackey, the Whole Foods CEO, would have to be tickled if the FTC weren't deploying this talk to kill the merger.
Which is where the awkwardness comes in. In order to fight the FTC, Mr. Mackey will have to argue that Whole Foods is just another supermarket.
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