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BUSINESS
April 7, 2004 | From Bloomberg News
The Oregon Public Employees Retirement System joined the campaign to oust from the board of Safeway Inc. Chairman Steven Burd and two directors, bolstering an effort launched by four state pension funds in March. The five funds, which hold 7.5 million company shares, are protesting a 60% decline in Safeway's stock price in the last five years, directors' ties to buyout firm Kohlberg Kravis Roberts & Co. and their business links to the No. 3 U.S. supermarket chain.
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BUSINESS
November 19, 2003 | Melinda Fulmer, Times Staff Writer
Shares of Longs Drug Stores Corp. surged as much as 17% on Tuesday on speculation that the company might be acquired by another grocery or drug retailer. The stock reached a high of $25.60 before closing at $24.12, up $2.23, or 10%, on the New York Stock Exchange. More than 2.9 million of the company's approximately 37 million shares changed hands. "It has to be takeover speculation," said Franklin Morton, who manages $15 billion in assets at Ariel Capital Management in Chicago, including 5.
BUSINESS
September 9, 2004 | Melinda Fulmer, Times Staff Writer
Safeway Inc. Chief Executive Steven Burd said Wednesday that its new labor contract in Southern California should lower the pay gap by one-third between it and non-union rivals such as Wal-Mart Stores Inc., helping to free up capital to expand and remodel Safeway's stores.
BUSINESS
April 14, 2004 | From Reuters
Safeway Inc.'s board of directors is recommending that shareholders vote against proposals that seek to separate the posts of chairman and chief executive held by Steven Burd, a government filing said Tuesday. The board of Pleasanton, Calif.
BUSINESS
April 16, 2003 | Melinda Fulmer, Times Staff Writer
Supermarket giant Safeway Inc. on Tuesday warned of a lower-than-expected profit in its fiscal first quarter, a result of slumping sales, lower margins and higher expenses. The Pleasanton, Calif.-based company, which operates about 1,700 stores including Vons and Pavilions in Southern California, blamed its declining profit on the high cost of streamlining its marketing efforts and continued soft sales.
BUSINESS
February 1, 2004
Safeway Inc. execs get millions while grocery workers get the shaft ("Safeway Rewards 11 Top Execs," Jan. 26). Chief Executive Steven Burd should be ashamed, but I don't think he and his fellow executives have any feelings. After all, they've cashed in their stock and made a bundle. Now the company can fall apart. Grocery companies and grocery workers have lost too much already, more than they can ever make up. But Burd and his cohorts are raking it right into their pockets, while the employees could possibly lose their pensions, health plans and any hope they have of enjoying a decent life.
OPINION
September 15, 2013 | By Rahul K. Parikh
Would you be willing to share with your employer how much you eat, drink, smoke or exercise? And would you be willing to make lifestyle changes in return for a break on the cost of your health insurance? The University of Minnesota offered such discounts to its workers. Actions such as completing a health questionnaire, biking to campus or setting personal fitness goals earned insurance discounts beginning at $300. Nearly 6,000 employees accepted the bargain. But do such programs have the intended effect of healthier employees and lower healthcare costs?
HEALTH
January 31, 2011
Your Jan. 3 story "Is It Your Boss' Business?" contains a misrepresentation about Safeway's experience controlling healthcare costs. Here are the facts straight from the source. Safeway's "all in" healthcare costs (for employees and the company) are the same today as they were five years ago, which is 33% lower than the national average increase in healthcare costs. During this period, Safeway reversed the national trend of rising obesity within our workforce and reduced the weight of that same group year-over-year.
BUSINESS
February 24, 2006 | From Associated Press
Safeway Inc.'s fourth-quarter profit dropped 14% as the company paid for previously disclosed cutbacks, but a recent makeover continued to provide a sales lift that has rejuvenated the nation's third-largest grocer. The Pleasanton, Calif.-based parent of the Vons and Pavilions chains said Thursday that it earned $173.5 million, or 39 cents a share, in the fourth quarter, compared with $202.7 million, or 45 cents, a year earlier.
BUSINESS
October 14, 1998 | JAMES F. PELTZ, TIMES STAFF WRITER
Safeway Inc., further accelerating the rapid consolidation of the U.S. supermarket industry, said Tuesday that it's buying Chicago-area chain Dominick's Supermarkets Inc. for $1.2 billion in cash. By adding Dominick's 112 stores, Safeway, which also owns the Vons chain, would operate 1,490 outlets in 18 states and have annual revenue of nearly $27 billion. Safeway, based in Pleasanton, Calif.
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