GUCO is running. Don't know the reason really. There are rumors of a buyout by a larger supermarket chain, buy I can not verify this. The other option is that they have reached aggrements on restructuring and refinancing. Either way, in my opinion this company is much too big to let trade at .55 or to let go under by backers. I am watching closly.
BIG DOG
Message 5360119
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Tuesday July 28, 9:42 am Eastern Time
Company Press Release
Manny Moslemi Named Corporate Vice President and Chief Information Officer for Grand Union
WAYNE, N.J.--(BUSINESS WIRE)--July 28, 1998--Manny Moslemi has been named corporate vice president and chief information officer for The Grand Union Co., a 222-store Northeast retail food company.
Moslemi was formerly corporate vice president in charge of Information Technology for Cub Foods, a division of the SuperValu Co. in Stillwater, Minnesota. He previously served as vice president in charge of Information Technology for American Stores Inc., and its subsidiary, Jewel Food Stores.
''Manny joins us with 27 years experience in management information technology, including more than 20 years in the retail food industry,'' noted Jack W. Partridge, vice chairman and chief administrative officer. ''His experience and depth of knowledge will be extremely important as we expand our investment in technology to increase efficiency and improve customer service.''
A Bachelor of Science graduate from Southern Illinois University, Moslemi also earned a Master of Business Administration degree from the University of Chicago.
He maintains his office in the company's headquarters in Wayne, N.J., and reports to Jeffrey P. Freimark, executive vice president and chief financial officer.
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