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To: richardred who wrote (40541)	12/12/2010 8:33:01 PM
From: E_K_S	3 Recommendations Read Replies (2) \| Respond to of 78481

Hi richardred - Thank's for the heads up. Perhaps something can be learned from their bankruptcy. A&P, Grocery Store Owner, Files for Bankruptcy in N.Y. (Update2) noir.bloomberg.com From the article:"...The company has 41,000 employees, 95 percent of whom are covered by union agreements, according to the filing....". <clip> "...According to its most recent quarterly report, A&P had a net loss of $153.7 million for the 12 weeks ended Sept. 11. Its total assets were $2.53 billion and liabilities were $3.21 billion. Meeting liquidity needs considering debt of $165 million was coming due June 15, 2011, was a reason for its initial move to restructure out of court, the company said in regulatory filings. The company’s labor costs mean the company has less flexibility to invest in other parts of the store, Hertel said in an interview...." ================================================================== It looks like the bankruptcy will help management establish more flexible union/non-union labor agreement(s). The Great Atlantic & Pacific Tea Company, Inc. (GAJ) represents the stock exchange listing for their debit at $25.00/share par. finance.yahoo.com This is now trading at 24 cents on the dollar ($6.00/share) but was as high as 60 cents on the dollar ($15.00/share) before the BK news on Friday. It's interesting to note that its biggest stockholders are activist investor Ron Burkle and the German retail group Tengelmann. Burkle's Yucaipa investment firm has built up a large position in the company's debt. I suspect that there will be a lot of shares traded on GAJ Monday and it would not surprise me that it is Burkle and his investment group doing the buying. EKS