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Amazon's (NASDAQ:AMZN) $13.7 billion acquisition of Whole Foods last June sent shockwaves through the grocery industry like almost nothing before it. Stocks plummeted across the board. Kroger (NYSE:KR) lost 9.2%; Walmart (NYSE:WMT) fell 4.7%; Costco Wholesale (NASDAQ:COST) gave up 7.2%; and Sprouts Farmers Market (NASDAQ:SFM) dropped 6.3%.
The conventional wisdom at the time was that Amazon would slash prices and expand delivery, pressuring margins across the industry. However, several months after the e-commerce giant took over Whole Foods, the reality...
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Monthly Archives: January 2018
Trump may be loathed in California, but he continues to reshape its politics
President Trump is wildly unpopular in California, but it’s hard to dispute how much his election, and his first year in office, have reshaped California politics.
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New California Senate leader Toni Atkins will take over March 21
SACRAMENTO — Sen. Toni Atkins will take over as California Senate's leader on March 21, Democrats announced Tuesday, becoming the first woman and the first lesbian to lead the chamber.
The San Diego Democrat will take over as president pro tem from fellow Democrat Kevin de Leon of Los Angeles. De Leon is barred by term limits from seeking re-election and is running for U.S. Senate. Atkins still must be formally elected by the Senate — a perfunctory decision because she has the unanimous support of...