Whole Foods Market (NASDAQ: WFMI) CEO John Mackey nearly derailed his company's acquisition of Wild Oats with a series of blog entries and bizarre anonymous message board posting doing everything from trashing competitors to complimenting his own hairstyle.
The SEC opened an investigation that was recently closed without any action and now Mackey is back to blogging on the Whole Foods site. In a rambling post, Mackey explained the reasoning behind his postings and thanked his board of directors and the SEC for their support. He strongly denied that his postings critical of Wild Oats were designed to beat down that company's stock price, and also said that he had not intended to inflate this price of Whole Foods Market stock with his enthusiastic posts on that message board.
He added that "I wish to apologize to all the stakeholders of Whole Foods Market-customers, Team Members, investors, suppliers, and our communities."
Great. Now if he could just lower the prices so us poor folks could afford a 12 ounce bottle of organic carrot juice.
Last updated: February 12, 2012: 03:12 PM
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Reader Comments (Page 1 of 1)
6-02-2008 @ 11:15PM
Jt said...
forget Whole Foods - crazy expensive. Trader Joe's has organic choices and reasonable prices, plus the store footprint is a perfect size for get in - shop - and leave.
6-08-2008 @ 10:58PM
boake moore said...
Well even with all their issues and higher grocery prices - here is a nice story about Whole Foods:
Whole Foods Markets is proud to announce it is selling Mission Grounds Gourmet Coffee in all its Georgia stores to help homeless Children. All the proceeds from the gourmet coffee sales will go to support homeless children in Atlanta. Mission Grounds is also announcing a new organic gourmet coffee to meet the high demands of Whole Foods Market customers, and Mission Grounds Gourmet Coffee is proud to announce all the proceeds from the coffee sales will go to benefit children in local homeless shelters around Atlanta.
Whole Foods Markets will role the organic gourmet coffee to all its Georgia stores this June. If sales meet expectations it will then roll the gourmet coffee out to it Southeast markets and Florida markets. “We really hope the coffee does well and we are able to help thousands of children” quoted Southeast Financial Officer of Whole Foods Markets. Furthermore he noted “ WFM is all about community and supporting wordy causes while also promoting local vendors and suppliers. This is a home run for us as we are able to help a local coffee vendor while also helping the community and local homeless shelters.” The sales of all the coffee proceeds will go to help homeless children in the Cherokee Family Crisis Center and the Homeless Shelter on Ellis StreetCustomer who purchase the great organic coffee will not only get a top of the line coffee but also help a homeless child too. WFM plans on donating their profits from the sale of MG coffee to the 2 shelters too.
Founded in 1980 as one small store in Austin, Texas, Whole Foods Market® is now the world's leading retailer of natural and organic foods, with more than 270 stores in North America and the United Kingdom. To date Whole Foods Market remains uniquely mission driven: We're highly selective about what we sell, dedicated to stringent Quality Standards, and committed to sustainable agriculture.
We believe in a virtuous circle entwining the food chain, human beings and Mother Earth: each is reliant upon the others through a beautiful and delicate symbiosis
Mission Grounds Gourmet Coffee is a non profit organization, a 501 C Corporation, dedicated to helping children. Our main focus is to help orphans and children in need the most: impoverished children in third world countries and homeless children in inner city neighborhoods in the United States.
Mission Grounds is currently helping children in the US, China, Russia, Costa Rica, South Africa, Kenya and Venezuela. We provide support in many ways; from food to shelter and clothing to books and school supplies. We also provide monthly support to orphans in Africa, Russia, Costa Rica, China and Venezuela.
We are currently engaged in two large construction projects which include building our second school in China and our first orphanage in Venezuela. Both projects should be completed by Summer 2008. Plans are also under way to build another school in China and another orphanage in Venezuela with a kick-off for both planned for Spring 2008. We are also looking at construction projects in South Africa, Nigeria and in The Sudan.
In Atlanta, Mission Grounds is working with a homeless shelter for children, the Jars of Clay shelter. We have contributed new appliances for the shelter’s kitchen, provided craft materials for after school fun and supplied book bags which included school supplies and children’s books for over 300 children. We have also recently supplied them with winter clothes and coats; built 2 playgrounds and put up a safety fence around the perimeter.