Well, I guess i will take up a little bandwidth, since ST posed the question here. OK, I went through the WSJ interactive edition and found a bunch of articles on Rite-Aid. The CEO owns an 83 acre parcel of land slated to house the new corporate headquarters, and the CEO's family appears to be all connected to various suppliers and landlord companies for some Rite-Aid stores. The company has made filings with the SEC to disclose these relationships, and may have been in the wrong for not filing earlier. Furthermore, the CEO (Martin Grass) denied all of this until it hit the papers, so his word is about as good as our President's. Lastly, there has been a pending nasty lawsuit by a fired VP (recently settled) who, as far as I can tell, was in part a whistle blower on the family connections. So, this latest divulgence by the company may portend much further woes, given how much the company and its officers must have their arms twisted to fess up to any problems. I certainly won't go out and buy on Monday, but i will keep an eye open.
Thanks for pointing this out, Sun.
Oliver
relevant links:
interactive.wsj.com
interactive.wsj.com@4.cgi?id=SB918601905698906500.djm&template=doclink.tmpl
interactive.wsj.com |
