- Underperforming Marks & Spencer is not commenting on the rumor that the company is about to be acquired, with Philip Green – the UK retailing magnate who considered making a bid for Safeway Plc, and who considered bidding for Marks & Spencer four years ago – among the likely suitors.
Kohlberg Kravis Roberts (KKR), the US-based buyout specialist, is considered another probably bidder.
- The New York Post reports that GES Investment Services, a Swedish firm, has identified Coca-Cola and Wal-Mart as companies that it feels falls short in area such as environmental consciousness, human rights violations, and labor policy.
In the case of Coke, GES cites violence, anti-union dismissals and murders of trade-union officials at the Coca-Cola bottler plants in Colombia – allegations that the beverage company says are false.
GES pointed to ongoing labor charges made against Wal-Mart as proof of that company’s track record. Wal-Mart also disputes the rating.
- There are reports in the British media that William Morrison Supermarkets plans to eliminate some 300 jobs in Safeway Plc’s finance, personnel, IT, and supply chain departments. The cuts come as Morrison pares away operation inefficiencies resulting from duplication after its acquisition of Safeway earlier this year.
- The Wall Street Journal reports that Starbucks coffee has 56 percent more caffeine than 7-Eleven coffee, 29 percent more caffeine than Dunkin’ Donuts coffee, and almost twice as much as caffeine in a cup of Folgers coffee.