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Strike: Grocers' Profit-Sharing Probed

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rucky Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-02-03 12:56 PM
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Strike: Grocers' Profit-Sharing Probed
http://www.latimes.com/business/la-fi-super2dec02,1,3486061.story?coll=la-headlines-business

California Atty. Gen. Bill Lockyer said Monday that he would investigate whether supermarket companies violated antitrust laws by agreeing to share profits and losses during the grocery workers' strike.

...

According to Wall Street analysts who follow the companies closely, the agreement says that if one of the three reaps added business during the strike, it will share some of that money.

...

The mutual aid pact took on significance with the Oct. 31 decision by the UFCW to pull its pickets from Ralphs stores to focus pressure on the other two chains.

That has led to a sharp pickup in business for Ralphs — which presumably is sharing the bounty with Safeway and Albertsons.



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