Like many other mergers and consolidations in recent history, including those in the airline industry, technology, communications and pharmaceuticals, the proposed $24.6 billion grocery store merger will substantially benefit a few at the top of the corporate food chain at the expense of consumers, displaced employees and others lower on the food chain.
It’s one of America’s most predictable stories. Some stockholders will reap increased dividends. Annual salaries and bonuses for the merged companies’ senior officers and board members will soar.
Carrs stores, representing the most pleasant and rewarding grocery shopping experience in Alaska, will be closed. Hundreds of jobs will be cut, and shopping choices will become limited.
Slick lawyers will undoubtedly squeak this merger past the Federal Trade Commission.
We saw what happened in the consolidated airline industry.
Competition is gone. Sardine-can traveling is not enjoyable — in fact, it’s barely tolerable. Sadly, the story just keeps repeating itself.
— Frank E. Baker
Eagle River
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