Saturday, June 17, 2017

Yesterday, e-commerce giant Amazon.com announced they are to acquire Texas based retail grocery store chain Whole Foods Market at US$42 per share. According to the deal worth US$13.7 billion (£10.7 billion) the retail grocery store chain is to keep the Whole Foods Market brand name and John Mackey is reportedly to remain its CEO.

After the announcement, Amazon’s shares went up more than two percent and Whole Foods Market shares went up by about 28%. Shares of other grocery-selling chains like Kroger, Target, Sprouts Farmers and Costco experienced a dip after the announcement.

Amazon runs their own online grocery — Amazon Fresh — which started a decade ago in Seattle, Washington. Amazon’s? CEO Jeff Bezos said, “Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy.”

Whole Foods Market started in 1978, and employs about 87000 people in its roughly 460 stores across the US, UK and Canada. The deal is expected to cover debts of Whole Foods Market.

Whole Foods Market CEO Mackey said, “This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers.”

The acquisition, which has not yet received approval from the shareholders of Whole Foods Market, adds a 27% premium to Thursday’s closing value of its stock. This would be Amazon’s largest acquisition if the deal is done.

Tuesday, August 2, 2005

Massey Energy Co., the fourth largest coal producer in the U.S., filed a federal lawsuit against the Governor of West Virginia, Joe Manchin.

Massey’s CEO Don Blankenship alleged that Gov. Manchin acted in retaliation against the company’s coal mining operations because the company spent $650,000 in an advertising campaign to defeat the governor sponsored pension bond proposal. The $5.5 billion bond proposal, intended to shore up the state’s sagging pension plan, was defeated in a special election held in June.

The Massey lawsuit, filed last Tuesday on July 26 in the U.S. District Court in the W.V. southern district, was referred to by Gov. Manchin as having less to do with the bond proposal than with the newly increased state “severance tax” on coal. Nearly 40 million tons of coal production will be subject to the 56-cent tax.

According to Blankenship, that tax amounts to $22.4 million in additional costs for the company, but he denied the increase has anything to do with the lawsuit.

The company reported profits that almost tripled during the second quarter compared to a year ago. Of the company’s rosy earnings picture, Blankenship urged states to “show some frugality” by not placing tax burdens on coal to solve state budget shortfalls. He said his company is “playing a role” because there was no need for the bond sale and the state can afford to make payments into the pension system.

Blankenship acknowledged during a conference call the now-rescinded June 30 permit by the W.V. Department of Environment Protection (DEP). At issue was the department’s permit for mining operations near the Marsh Fork Elementary School, in Sundial, W.V. The school rests at the base of a mountain selected by Massey for “Mountain Top Removal” (MTR) mining techniques. Along with the mining equipment, a coal preparation plant and a sludge pond were established on the mountain. Protest groups, mainly the Coal River Mountain Watch and Mountain Justice Summer, presented a list of demands to Massey officials that included shutting down the preparation plant, ceasing all MTR mining above the Marsh Fork Elementary School, and abandoning plans for a second coal silo near the school. They also ask that the Marsh Fork school be cleaned up or relocated. The state permit for a second coal storage silo was rescinded by the DEP the same day Massey filed the Manchin lawsuit.

Gov. Manchin in June said that Blankenship could expect tougher state scrutiny of his business affairs since the Massey media campaign against the pension bond proposal. “I think that is justified now, since Don has jumped in there with his personal wealth trying to direct public policy,” he said at an appearance at an American Electric Power event in Putnam County.

Tuesday, May 30, 2006Kabul Afghanistan saw the worst violence on Monday since the fall of the Taliban, after a large U.S. Military cargo truck crashed into about a dozen vehicles at an intersection in Kabul killing at least 7 civilians and injuring about 40. “There was a traffic jam and all the vehicles were stopped,” said one witness, 21-year old shopkeeper Mohammad Wali. “The American convoy hit all the vehicles which were on the way. They didn’t care about the civilians at all.”

A U.S. military spokesman, Lieutenant Colonel Paul Fitzpatrick, said no U.S. troops had been hurt, and that an investigation has begun into the incident.

The U.S. military also said the crash was caused by brake failure but Afghans often complain about aggressive driving tactics of the U.S. military. Convoys often pass through crowded areas at high speed and occasionally disregard road rules. U.S. military says such driving is necessary to protect the troops from attack.

Afghan rioters also claimed U.S. troops had shot and killed civilians at the scene of the accident.

Chanting “Death to America,” rioters stoned the U.S. convoy involved in the accident Monday before heading to the center of Kabul where they ransacked offices of international aid groups and searched for foreigners. Smoke billowed from burning buildings along the path of destruction.

Sunday, April 26, 2009

Officials in Mexico are asking citizens to take actions in order to minimize the spread of the swine flu outbreak. Citizens are urged to stay away from large crowds, avoid kissing people and stay at least 6 feet (1.8 meters) away from one another. Additionally, all schools and universities in Mexico City have been closed indefinitely. In addition, at least twenty people in the United States have been infected with the disease, causing the government to issue a “national public health emergency.”

On Monday, Mexican officials reported that at least 100 deaths in their country were “likely linked” to the swine flu. Dr. Jose A. Cordova Villalobos, the health secretary of Mexico, said that at least 20 of the deaths have been confirmed as swine flu related deaths while the World Health Organization (WHO) says that 71 people have died from complications caused by the disease. Meanwhile, over 1,300 people in Mexico have been hospitalized because of flu-like symptoms since April 13.

In New Zealand, 26 students and teachers might have been infected by the flu during their trip to Mexico. Dr. Julia Peters, the clinical director of Auckland Regional Public Health Service, said that at least 22 have shown flu-like symptoms. All of the students and teachers are being quarantined pending test results. Similar health scares occurred in Israel. France, Spain and the United Kingdom, where people with flu-like symptoms have been tested for the swine flu. In the UK, test results came back negative for the deadly strain, while results from Israel, France and Spain are still pending.

In the United States, there have been twenty confirmed cases of swine-flu in the states of Kansas, Texas and California. Today, New York Mayor Michael Bloomberg reported that at least 8 students from a New York preparatory school have contracted the mutated flu strain. The White House also said today that there was at least one confirmed case of the disease in Ohio, prompting the federal government to declare a “public health emergency.”

Robert Gibbs, a White House spokesman, said that the swine flu outbreak “is of great concern to the White House,” and that President Obama is now receiving briefings on the issue on a regular basis. Gibbs added, “I would tell people it’s certainly not a time to panic […] The government is taking all the steps it needs to and must do to take the precautions to deal with whatever size and scope we may be facing.”

The WHO is taking the outbreak very seriously, calling it a “public health emergency of international concern” that has a “pandemic potential.” The WHO’s emergency council met on Saturday for the first time since its creation. If the committee decides that the swine flu outbreak is an international public health emergency, WHO could recommend travel warnings and restrictions and possible border closures.

The Center for Disease Control says that swine flu symptoms include a fever above 100º Fahrenheit, diarrhea, nausea, vomiting, coughing, sore throat, lack of appetite, runny nose, breathing problems and fatigue. However, not all symptoms are present in each case of swine flu.