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Non-Tech : Whole Foods Market (WFM)
WFM 41.990.0%Aug 29 5:00 PM EST
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From: Ron6/20/2007 8:13:48 AM
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WFMI and FTC: This is going to get interesting.

Whole Foods CEO responds to FTC complaint on his blog.
Whole Foods Market (WFMI) CEO Jeff Mackey has fired back at the Federal Trade Commission's complaint about the possible merger of Whole Foods and Wild Oats (OATS) on his blog, saying "...I think the FTC, to date, has neglected to do its homework appropriately, especially given the statements made regarding prices, quality, and service levels in its complaint." He goes on to explain his position in great detail, including the comment "Is Wild Oats a relevant competitor of Whole Foods? Of course they are. We have never claimed that we don't compete with Wild Oats. We do... Part of the reason to do almost any merger is to eliminate a competitor. This is so self-evident to me that I really can't understand why the FTC wants to make a big deal out of it. If the FTC is opposed to the elimination of all competition then I don't understand why they approve any mergers?"
wholefoods.com
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