In the News

Supermarkets Leaving Neighborhoods
July 26, 2006

Albertson’s supermarkets are leaving low-income communities in California, either permanently or to be replaced by high-end stores that are unaffordable to most.

In response a local activist group has begun its campaign against the grocery industry. The group, called ACORN (The Association of Community Organizations for Reform Now) is rallying against Albertson’s supermarkets because it believes the chain is abandoning lower income communities to invest in the wealthy ones.

A press conference was held Monday afternoon at the site of a Bristol Farms scheduled to open in September on 4th and Market.

Read the full story at BeyondChron.org

Federal Equal Employment Opportunity Commission Sues Albertsons for Ignoring Racial, Ethnic Harassment
July 5, 2006

The Equal Employment Opportunity Commission contended in the lawsuit filed in federal court Friday that the grocery chain's managers failed to take adequate action to end what the agency described as a hostile workplace.

The EEOC has asked a U.S. district judge to order Albertson's to pay the employees an amount to be determined at trial for emotional pain, suffering and inconvenience. It also wants Albertson's to eliminate practices that it said created the hostile work environment.

Read the full story at TwinCities.com/Pioneer Press

Larry Johnson - the 105.5 million dollar man: Albertsons CEO to get TAX FREE pay day -- while his employees get PINK SLIPS!
June 2, 2006

Larry Johnston, the $105 Million Dollar man. He's smiling at your expense.

Here's what Johnston will receive in cash, stock, health and other benefits, along with income tax reimbursementsn on his "golden parachute":

• $8.85 million for severance of three times his base pay.
• $482,212 for his pro-rated annual bonus.
• $35,818 for 36 months of health and other benefits.
• $50,000 for outplacement services.
• $100,000 for relocation expenses.
• $159,208 for fringe benefits.
• $20.4 million for his life annuity, if he takes it as a lump-sum payment.
• $627,111 from the company's long-term incentive plan.
• $3.7 million from the company's deferred-compensation plan.
• $28.9 million if he cashes in his 1,100,461 stock options at $26.29 each.
• $29.3 million if he cashes in his 1,114,753 shares of stock at $26.29 each.
• $12.9 million to pay the income taxes on the package.

Read the full story at IdahoStatesman.com

Take action! Send E-mail to Larry Johnston asking to keep your local store open!

Albertsons' CEO makes DOUBLE -- $16 million. Johnston to pull down $52 million more if Albertsons is sold.
March 30, 2006

If a deal to sell the Boise-based grocery company goes through later this year, Johnston could make more than $52 million in cash and stock options. The sale is still subject to shareholder approval.

Critics of Albertsons' management, like Boise attorney Kelly Beeman who launched itaintjoesanymore.org, say that amount of compensation isn't justified.

"Everything is going down down down, to me it's completely inconsistent. As Mr. Buffet would say, 'Why do you reward this failure?' It doesn't add up to me and I just hope Mr. Johnston comes public and explains," he tells KBCI Local 2 News.

Albertsons says they don't comment on compensation matters.

Sources: KPVI.com and KBCITV.com

Take action! Send E-mail to Larry Johnston asking to keep your local store open!

KNBC4-TV News Coverage

KNBC4 News Coverage	File	Play Length	File Format	File Size
	KNBC4- News	2m:33s	mpeg video	25.53 MB