business news in context, analysis with attitude

Larry Johnson, the former chairman-CEO of Albertsons, has taken a "major stake" in the Peach Cobbler Factory Franchise Company LLC, which the announcement describes as "one of America's fastest growing dessert franchises."

The press release says that "Johnston will form a partnership with Greg George the Peach Cobbler Factory's CEO to assist in accelerating the company's rapid growth and success forward into the future."

KC's View:

Wow.  It has been so long since I've even thought about Larry Johnston, who made incredibly great fodder for commentary and analysis when he was at Albertsons.  And not just from me … if memory serves, one of the real pleasures of that time, back in 2006, was how many emails I ran from folks inside the company who castigated Johnston for his leadership style … actually, lack of leadership style.  People who talked to me said he was reviled.

Here's an oldie but a goodie from an Albertsons employee, posted on MNB when Johnston left the company:

Please keep us informed as to where this character will be going to, so we don’t apply for jobs there….

That was one of the nice ones.

I do hope that when he starts showing up for work at the Peach Cobbler Factory, they've figured out where he'll park his big-ass, garishly painted Hummer.  At Albertsons, he liked to pull up and park it anywhere he wanted - but always prominently, just so folks would know he was there.  (Then again, maybe he sold the Hummer and replaced it with something equally flamboyant.)

Class act.  Except in the view of many people in the company, the class was steerage.