
Kroger and Albertsons' plan for the largest U.S. supermarket merger in history crumbled Wednesday, with Albertsons pulling out of the $24.6 billion deal and the two companies accusing each other of not doing enough to push their proposed alliance through. Albertsons said it had filed a lawsuit against Kroger, seeking a $600 million termination fee as well as billions of dollars in legal fees and lost shareholder value. Kroger said the claims were “baseless” and that Albertsons was not entitled to the fee. “After reviewing options, the company determined it is no longer in its best interests to pursue the merger,” Kroger said in a statement Wednesday. The bitter breakup came the day after two judges halted the proposed merger in separate court cases. U.S. District Court Judge Adrienne Nelson in Oregon issued a preliminary injunction Tuesday blocking the merger until an in-house judge at the Federal Trade Commission could consider the matter. An hour later, Superior Court Judge Marshall Ferguson in Seattle issued a permanent injunction barring the merger . Ferguson ruled that combining Albertsons and Kroger would lessen competition and violate consumer-protection laws. The companies could have appealed the rulings or proceeded to the in-house FTC hearings. Albertsons' decision to pull out of deal instead surprised some industry experts. “I’m in a state of professional and commercial shock that they would take this scorched earth approach,” said Burt Flickinger, a longtime analyst and owner of retail consulting firm Strategic Resource Group. “The logical thing would have been for Albertsons to let the decision sink in for a day and then meet and see what could be done. But the lawsuit seems to make that a moot issue.” Albertsons is unlikely to find another merger partner because it has significant debt and underperforming stores in most of its markets., Flickinger said. Consumers will feel the most immediate impact of the deal's demise, he said, since Albertsons charges 12% to 14% more than Kroger and other grocery rivals. “They had so much debt they had to pay it off it's reflected in their pricing and promotional structure,” Flickinger said. Albertsons CEO Vivek Sankaran testified during the federal hearing in September that his company might consider “structural options” like laying off employees, closing stores and exiting certain markets if the merger with Kroger didn’t go through. “I would have to consider that,” he said. “It’s a dramatically different picture with the merger than without it.” But in a statement Wednesday, Sankaran said Albertsons would “start this next chapter in strong financial condition with a track record of positive business performance." In the company's most recent quarter, Albertsons' revenue rose 1% to $18.5 billion and it reported $7.9 billion in debt. Kroger said it would also move forward in a strong financial position, with revenue down slightly to $33.6 billion in its most recent quarter. The company announced a $7.5 billion share buyback program Wednesday after a two-year pause. Kroger and Albertsons first proposed the merger in 2022 . They argued that combining would help them better compete with big retailers like Walmart, Costco and Amazon, which are gaining an increasing share of U.S. grocery sales. Together, Kroger and Albertsons would control around 13% of the U.S. grocery market. Walmart controls around 22%. Under the merger agreement, Kroger and Albertsons — who compete in 22 states — agreed to sell 579 stores in places where their locations overlap to C&S Wholesale Grocers , a New Hampshire-based supplier to independent supermarkets that also owns the Grand Union and Piggly Wiggly store brands. But the Federal Trade Commission and two states — Washington and Colorado — sued to block the merger earlier this year, saying it would raise prices and lower workers' wages by eliminating competition. It also said the divestiture plan was inadequate and that C&S was ill-equipped to take on so many stores. On Wednesday, Albertsons said that Kroger failed to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction. Albertsons said Kroger refused to divest the assets necessary for antitrust approval, ignored regulators' feedback and rejected divestiture buyers that would have been stronger than C&S. “Kroger’s self-serving conduct, taken at the expense of Albertsons and the agreed transaction, has harmed Albertsons’ shareholders, associates and consumers,” said Tom Moriarty, Albertsons’ general counsel, in a statement. Kroger said that it disagrees with Albertsons “in the strongest possible terms.” It said early Wednesday that Albertsons was responsible for “repeated intentional material breaches and interference throughout the merger process.” Kroger , based in Cincinnati, Ohio, operates 2,800 stores in 35 states, including brands like Ralphs, Smith’s and Harris Teeter. Albertsons , based in Boise, Idaho, operates 2,273 stores in 34 states, including brands like Safeway, Jewel Osco and Shaw’s. Together, the companies employ around 710,000 people. Kroger sued the FTC in August in federal court in Ohio, claiming that the federal agency’s in-house administrative hearings were unlawful because the FTC was also able to challenge the merger in federal court in Oregon. In paperwork filed Wednesday, the FTC said it expected to update the court on its next steps in that case by Dec. 17. In Colorado, which also sued to block the merger, Attorney General Phil Weiser said Tuesday that he still was awaiting a decision from a state judge. In that case, Colorado also was challenging an allegedly illegal no-poach agreement Kroger and Albertsons made during a 2022 strike. Shares of Albertsons fell 1.5% Wednesday, while Kroger's stock was up 1%.
For more than a decade, the United States has sought to keep out of Syria's political debacle, seeing no viable partner. Islamist rebels' toppling of strongman Bashar al-Assad has forced a change of tune -- and a debate over just what US interests are. Donald Trump, who returns to the White House in little more than a month, on the eve of Assad's fall called Syria "a mess" and stated in his plain-speaking style that the United States should not be involved. Joe Biden's administration, after putting Syria on the backburner in a turbulent region, has offered a tacit rebuttal by stating that clear US interests are at stake -- including preventing Syria from fragmenting and avoiding a resurgence of the Islamic State extremist group. Steven Cook, a senior fellow at the Council on Foreign Relations, said Trump's and Biden's statements could be combined and "together they make a kind of decent policy." The United States needs to address real concerns about the Islamic State group and Al-Qaeda but "as far as getting involved in arranging the politics of Syria, I think that no good can come from it," Cook said. Since the presidency of Barack Obama, the United States has walked a fine line on Syria that critics often derided as a non-policy. The United States questioned the legitimacy of Assad, demanding accountability for brutality in one of the 21st century's deadliest wars, but stopped short of prioritizing his departure due to suspicions about the main rebels. The Islamist movement Hayat Tahrir al-Sham (HTS), which has now led Assad's ouster, traces its roots to Syria's Al-Qaeda branch and is considered a terrorist organization by the United States. Since Obama's time, the United States instead has allied itself in Syria with a smaller fighting force of the Kurdish minority -- over strenuous objections of neighboring Turkey, which backs HTS -- with a narrow mission to counter the Islamic State group. Some 900 US troops remain in Syria. Assad fell in a lighting surprise offensive as his protector Russia is bogged down in its invasion of Ukraine and after Israel's military heavily degraded Assad's other key supporters -- Iran and Lebanese militia Hezbollah. Robert Ford, the last US ambassador to Syria, helped spearhead the terrorist designation of HTS in 2012 but said that the group since then has not attacked US or Western targets and has instead fought Al-Qaeda and Islamic State forces. Ford also pointed with hope to post-victory statements by rebel chief Abu Mohammed al-Jolani, including welcoming international monitoring of any chemical weapons that are discovered. "Can you imagine Osama bin Laden saying that?" said Ford, now a senior fellow at the Middle East Institute. "I'm not saying 'trust Jolani.' He's obviously authoritarian. He's obviously an Islamist who doesn't believe that Christians have an equal right to power as Muslims. But I sure as hell want to test him on some of these things," Ford said. He said that the United States should encourage HTS, as well as other Syrian actors, to reach out and reassure the country's diverse communities including Christians, Kurds and Alawites -- the sect of the secular-oriented Assad. Beyond that, Washington should take a back-seat and let Syrians sort out their future, he said. "We should learn from the experience in Iraq that trying to impose exiles on a population traumatized by a brutal dictatorship and war is not a recipe for success," Ford said. Outgoing Secretary of State Antony Blinken on Tuesday offered US recognition to a future government that is "credible, inclusive and non-sectarian." Trump in his first term, at the urging of Turkish President Recep Tayyip Erdogan, abruptly said he would pull troops out of Syria. He backtracked after intense criticism at home and appeals from French President Emmanuel Macron, who pointed to the risk of Islamic State filling the vacuum. Trump has not indicated how he would change Syria policy this time. But he has shown no reluctance in the past to negotiate with foreign adversaries on the US blacklist, from Afghanistan's Taliban to North Korean leader Kim Jong Un. State Department spokesman Matthew Miller said there was no legal restriction on US contact with designated terrorists, although he indicated there was no direct dialogue with HTS. Natasha Hall, a senior fellow at the Center for Strategic and International Studies, said Syria could face "devastating economic and humanitarian consequences" unless the United States reconsiders the terrorist designation of HTS, which impedes aid groups. "That said," she said, "if there isn't sort of an established framework for negotiations and good behavior now, before that designation is lifted, that could potentially also be a major mistake down the line for Syria's future." sct/sms Get any of our free email newsletters — news headlines, sports, arts & entertainment, state legislature, CFD news, and more.
In conclusion, the improvements made to the plot of the beta version of "Sixteen Sounds of Yan Yun" have successfully elevated the gaming experience to new heights. By focusing on character development, relationships, and narrative coherence, the developers have created a more immersive and engaging storyline that resonates with players on a personal level. As players eagerly anticipate the full release of the game, they can rest assured that their journey in the world of Yan Yun will be one filled with excitement, emotion, and unforgettable moments. Designed to captivate and inspire, "Sixteen Sounds of Yan Yun" is set to redefine the standards of storytelling in the world of gaming.
The partnership between KOMOSEE and SK Hynix highlights the collaborative efforts of industry leaders to drive innovation and deliver state-of-the-art memory solutions to meet the evolving needs of consumers and businesses. The combination of KOMOSEE's manufacturing capabilities and SK Hynix's advanced packaging technology has resulted in the creation of memory modules that offer unparalleled performance and efficiency.In conclusion, the announcement of the layoffs and expansion of the restructuring plan by the German Railway Freight Company represents a pivotal moment in the company's history, as it seeks to reinvent itself and secure its position as a leader in the transportation industry. While the road ahead may be challenging, the GRFC's determination to adapt, evolve, and grow bodes well for its ability to weather the storms of change and emerge stronger and more competitive in the years to come.While history has softened the harsh view of Jimmy Carter’s presidency, there is one part of his legacy that looks worse as the years pass. Carter, , called to boycott the 1980 Olympics because of the Soviet Union’s invasion of Afghanistan, and the pressure he exerted on the U.S. Olympic Committee to comply, was wrong and naïve. It accomplished nothing other than to further entrench the antagonism between the United States and the Soviet Union, and inserted politics where it didn’t belong. Worse, it punished hundreds of athletes, robbing them of the moment and opportunity for which they had trained and sacrificed. Not just American athletes, either. Other countries joined the United States in boycotting the Summer Games in Moscow, including Canada and Japan, and the Soviet Union and much of the Eastern bloc retaliated four years later in Los Angeles. Carter, raised the possibility of a boycott in January 1980, a month after the Soviet Union invaded Afghanistan, hoping the embarrassment of the world staying home from the Summer Games would convince the communist powerhouse to leave Afghanistan. After the Soviets ignored a February deadline, Carter officially announced the boycott March 21, 1980. But it is the USOC, not the White House, that sends teams to the Olympics. In an April speech to USOC leaders, Vice President Walter Mondale painted the boycott as a moral imperative, saying "no less than the future security of the civilized world" was at stake in Afghanistan. He likened the Soviet invasion to Hitler’s Nazi Germany, and said the United States could not make the same mistake it had in 1936, when Jesse Owens led an American team to the Berlin Games. "As Joseph Goebbels boasted on the eve of the Olympics, the Reich expected the Games 'to turn the trick and create a friendly world attitude toward Nazi political, economic, and racial aims.' It worked," Mondale told the USOC. "... Neither Jesse’s achievements in Berlin nor any words spoken at the Games prevented the Reich from exploiting the Olympics toward their own brutal ends." A few hours after Mondale’s speech, the USOC agreed to Carter’s demand and said it would not send a team to Moscow. While athletes were hailed as patriots and praised for their sacrifice, that was little consolation for the harsh reality of Olympic sports. With the Games held once every four years, most athletes get only one shot when they’re in their prime. Four years earlier and they’re probably too young. Four years later and they’re probably too old. The boycott meant hundreds of athletes missed out on the opportunity to be recognized by the entire world as the best in the sports to which they’d devoted their entire lives. Given this was still in the days before professionals could compete in the Olympics, those athletes who would have won medals lost out on post-Games economic opportunities, including lucrative speaking engagements for which they’d still be in demand long after their days as an athlete had ended. Take Bill Rodgers, arguably one of the greatest distance runners ever. Rodgers was 40th in the marathon at the 1976 Olympics in Montreal. But beginning with the New York Marathon later that year, he won 15 of his next 19 races at the 26.2-mile distance, including Boston in 1978, 1979 and 1980. He set an American record at Boston in 1979, and Track & Field News ranked him No. 1 in the marathon for a third time that year. Had the United States gone to Moscow, he would have been a favorite to join Frank Shorter (1972), John Hayes (1908) and Thomas Hicks (1904) as the only U.S. men to win the Olympic marathon, a feat that would have made him a commercial superstar. But the United States didn’t go to Moscow. And by the time the Los Angeles Games arrived, Rodgers’ career was in decline. He finished eighth at the 1984 Olympic trials and didn’t even make the U.S. team for L.A. "We're simply a tool, an implement," Rodgers told the Washington Post at the time. "No one cares at all, until we can be used for their purposes. Then they can use it." At least Rodgers could still call himself an Olympian, having competed in Montreal. But there were other athletes for whom Moscow was their only chance. They remain in a weird sort of athletic purgatory, Olympians without an Olympics. "I feel like a doctor who knows the specialty, but I don't have that M.D.," wrestler Lee Kemp, who would have been the heavy favorite for gold at 74 kilograms in Moscow after winning the world title in 1978 and 1979, told the New Orleans Times-Picayune in 2010. Kemp retired after finishing second at the 1984 Olympic trials. Had the boycott accomplished what Carter hoped, maybe athletes could have taken some comfort in knowing their sacrifice had brought about change. But many of the United States’ closest allies – Britain and France among them – refused to join the boycott. The politics Carter hoped to keep out of the Olympics are now endemic to the Games. And not until February 1989, almost a decade later, would the Soviet Union leave Afghanistan. "There was not one positive," Kemp told the Times-Picayune. "Not one." Forty-four years later, it’s even more apparent Carter made the wrong decision.
In a humble home nestled away in a quiet neighborhood, a tender yet poignant scene unfolded one evening. The father, usually a pillar of strength and stoicism, found himself in a vulnerable state as he drowned his sorrows in alcohol. His daughter, a sweet and innocent six-year-old, watched with wide eyes as her father's tears fell freely, his voice trembling as he uttered words that tugged at the heartstrings.Title: US Soldier Found Not Guilty of Choking Troublemaker - Jury Acquits Defendant
In addition to the salary issue, other factors such as contract length, performance-related bonuses, and release clauses are also said to be causing complications in the negotiations. The uncertainty surrounding the club's presidential elections, scheduled for March 2021, further adds to the complexity of the situation.DALLAS (AP) — Juan Soto gets free use of a luxury suite and up to four premium tickets behind home plate for regular-season and postseason New York Mets home games as part of his record $765 million, 15-year contract that was finalized Wednesday. The Mets also agreed to provide personal team security for the All-Star outfielder and his family at the team’s expense for all spring training and regular-season home and road games, according to details of the agreement obtained by The Associated Press. Major League Baseball teams usually provide security for player families in seating areas at ballparks. New York also agreed to assist Soto's family for in-season travel arrangements, guaranteed Soto will have uniform No. 22 and included eight types of award bonuses. Soto's suite will be valued at the Mets' prevailing prices, presumably for tax purposes, and after 2025 he can by each Jan. 15 modify or give up his suite selection for the upcoming season. He can request the premium tickets, to be used by family members, no later than 72 hours before the scheduled game time. The Yankees had refused to offer Soto a free suite. “Some high-end players that make a lot of money for us, if they want suites they buy them ... whether it's CC (Sabathia), whether it’s (Aaron) Judge, whether it’s (Gerrit) Cole, whether it’s any of these guys," general manager Brian Cashman said. "We've gone through a process on previous negotiations where asks might have happened and this is what we did and we’re going to honor those, so no regrets there." Cashman said the Yankees have a shared suite for player families and a family room with babysitting. Soto gets a $75 million signing bonus, payable within 60 days of the agreement’s approval by the commissioner’s office. The deal for the 26-year-old, which tops Shohei Ohtani's $700 million, 10-year contract with the Dodgers, was reached Sunday pending a physical that took place Tuesday. Soto receives salaries of $46,875,000 each in 2025 and 2026, $42.5 million in 2027, $46,875,000 apiece in 2028 and 2029 and $46 million in each of the final 10 seasons. Soto has a contingent right to opt out of the agreement within three days of the end of the 2029 World Series to become a free agent again, but the Mets have the an option to negate the opt-out provision by increasing the yearly salaries for 2030-39 by $4 million annually to $50 million and raising the total value to $805 million. If the club exercises its option to negate the opt-out provision, Soto can make his opt-out decision by the fifth day after the World Series. He has a full no-trade provision and gets a hotel suite on road trips. Soto would receive a $500,000 bonus for winning his first Most Valuable Player award and $1 million for each MVP award. He would get $350,000 for finishing second in the voting and $150,000 for finishing third through fifth. Soto was third in the AL voting this year. He would earn $100,000 for each All-Star selection and Gold Glove, $350,000 for World Series MVP and $150,000 for League Championship Series MVP. Soto would get $100,000 for selection to the All-MLB first or second team, $150,000 for Silver Slugger and $100,000 for the Hank Aaron Award. Award bonuses are to be paid by the Jan. 31 after the season in which the bonus is earned. ___ AP MLB: https://apnews.com/hub/mlb Ronald Blum, The Associated Press
Stay tuned for more updates on the release of the Gourd Gift Set and get ready to unleash the power of the Monkey King in "Black Myth: Wukong." The adventure awaits!
This incident has brought to the forefront the challenges and dilemmas faced by agricultural communities in their pursuit of financial support and recognition. While government subsidies are intended to incentivize and support agricultural development, they also create opportunities for abuse and exploitation. The need for robust oversight and accountability mechanisms to ensure the effective and transparent distribution of public funds has never been more pressing.