for about $24.6 billion, in a deal that pairs up two of the nation's four largest food retailers.
In other words, their collective purchasing power is significant — so they should be able to extract concessions from their vendors. "With food prices rising, the last thing Americans need is a supermarket merger that will spike food prices even further," Robert Weissman, president of Public Citizen, said in a statement.By the numbers:
The 'experts' = corporate lobbyists that get a bonus if the deal goes through.
Yeah yeah sure sure.
I don’t believe them.
lol lmao
Less competition will result in lower price prices for the consumer. 🤡
Are you effin kidding me?!
“Reduce prices”
Wtf lol
Look for food co-ops in your area and join one.
I run a small business & teach business. the hardest thing for ppl to understand is 1) fiduciary responsibility/shareholder lawsuits 2) PR/msging. Businesses take action b/c it will reduce THEIR cost or up THEIR profits for the benefit of their owners. Regardless of their msging
How 'bout nope? Revised non-hack headline 'Kroger says it'll lower prices if it's allowed to buy Albertsons, but people with more brain cells than a gnat are skeptical.'
Monopolies don't reduce prices. The govt should block this.
So Kroger needed to spend almost $25 billion to lower prices? Lol fuck me
Yeah, that's not how monopoly power works. But it does get to control media narratives as they profiteer so here we are.
Wut? What “experts” are split here? We have over a century of economic evidence saying that increased market power does leads to anti-consumer price increases—not the other way around. We don’t have to entertain bad faith just to get that magical “both sides” framing. 🤡
“You have our word that after obtaining a monopoly we will voluntarily lower prices.”
Someone please show me proof of any instance where reduced competition has caused non-trivial product price reductions.
'Journalism'
That’s a bigly basket of BS. Competition for your grocery dollars actually lowers price points. It’s called a free market. Buying out your competitors does exactly the opposite.
Company marketing PSA is your direct headline? Marketing 101: How Corporate America Buys The “Free” Press
Uh huh. And they’re giving everyone free ponies, too, right?
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha wheeze wheeze ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
You have got to be kidding me. You led with this framing? Seriously?
Well if they pledge and promise it must be true
Hahaha. Yeah ok. Might want to get that in writing
Nationalize Kroger
We have two Ralph's and an Albertsons in our city. All are perfectly spaced out. I hope the Albertsons doesn't get closed.
Sure. They will definitely lower their prices. I totally believe.
Bullshit.
Big no.
What the country needs is publix nationwide.
“Of course I love you; yes, the check is in the mail ………
SIRI, CAN YOU COME WITH ANOTHER METAPHOR FOR 'BAIT AND SWITCH'?
Inflation today isn't due to increased costs. Companies are raising prices just because they can to increase profits using the pandemic as an excuse. There is less competition which allows them to get away with it. More oligopolies = higher prices
They’ll reduce prices and quality, quality is already very poor in both stores kroger and Albertsons, not better together.
Waiting. They own Smith's Grocery too. 2 liters up to $3 each.. I'll wait for proof.
Yeah. Right. Reduce prices. Okay.
Headline the facts , not the rhetoric.
Because that’s how it always works out! 🙄
Sure.
Albertsons owns Safeway in the Southwest/Northwest. Kroger owns Fred Meyers. Fred Meyers is also in the Northwest. All this equals to monopoly in terms no seen since the 50’s.
crampell can we assume 'lower prices' also just means 'shrink-flation'? Meaning less product inside of std pkgs, 10-oz vs 16-oz, etc.
Sure it will, sounds like the mythical trickle down economics of grocery stores.
Famously mergers are always at the benefit of consumers
How generous and altruistic of them…
Got a bridge if any of y’all are interested.
Lol
Yeah right, because when companies buy-out their competition, the first thing they do is lower prices🙄🙄
K.
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