Whole Foods CEO Caught In Embarrassing Message Board Brouhaha

from the mackey dept

The FTC's decision to oppose Whole Foods' acquisition of Wild Oats is the result of a misguided and myopic definition of what constitutes the relevant market. And while many expect Whole Foods to ultimately prevail, the proceedings have been unpleasant for the company's CEO, John Mackey. First it was revealed that Mackey championed the merger, in part because he believed that by taking Wild Oats out of play, it would prevent another supermarket chain from quickly becoming a Whole Foods rival. That may or may not be damning (from an antitrust perspective), but a new revelation will prove to be far more embarrassing. As part of its latest legal filing, the FTC dropped the bombshell that John Mackey had, for several years, been posting on the the Yahoo Finance message boards under a pseudonym, cheerleading his company's success and denigrating its rival, Wild Oats. He even made predictions about the company's stock price, putting out extremely high estimates for its performance. It's not clear that what he did was necessarily illegal, but his posting seems unethical and highly foolish, at the very least. If nothing else, the company's stockholders should wonder about what the boss is doing with his time.

Filed Under: message boards
Companies: whole foods

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  1. identicon
    John, 17 Jul 2007 @ 2:59pm

    I don't see what this fuss is all about...

    Ok, I am not a relative of Mr. Mackey nor Mackey himeself under a psuedo name.
    Now that I have gotten that out of my chest, i feel very relieved so that I can say whatever I have to say... right?
    What is the big deal that this man has done? Everyone uses different psuedo names in message boards. There monkeys with keyboard on Message boards. Who the heck cares about what they say, there are always insiders taking sides of their companies and talking good things about their pay-checkin paying companies.
    Albeit this guy happen to be the CEO, what rights did he violate? what did he really do? There is nothing wrong in his actions, he could cry out wolf or sweet talk his whole life and no one would have given hoots about that.
    Media is having a ball like those star magazines who trive on Paris hilton stories. IMo, He did not violate nothin. Waste of SEC time, and everyone's time...
    who care of what he thinks of his competitors, you have to be reading the message boards to have an idea of what goes on there, before you start a issue out there... and whoever invests with the message board info is a fool anyway.
    BTW, did I mention monkey with keyboard, I wouldn't have done nothin with his comments.


    John (of course a pseudo name, what do you think!)

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