Enhanced Investments - Financial Portal

TEAMSTERS OPPOSE KROGER-ALBERTSONS MERGER

Published: 2023-06-12 22:14:00 ET

Companies Fail to Deliver on Union Demands

WASHINGTON, June 12, 2023 /PRNewswire/ -- The International Brotherhood of Teamsters is formally opposing the merger of The Kroger Company (NYSE: KR) and Albertsons Companies, Inc. (NYSE: ACI) currently under review at the Federal Trade Commission. The Teamsters represent more than 22,000 members across both companies' stores, distribution centers, and manufacturing plants nationwide.

"Kroger and Albertsons management likes to talk the talk on job security when they're sitting in front of Congress but talk means little when it comes protecting our members," said Teamsters General President Sean M. O'Brien. "We expected better from these two longtime Teamster employers. Clearly, they are more interested in guaranteeing big payouts for management."

The decision to oppose the proposed merger comes after months of discussions with both Kroger and Albertsons to protect the most basic interests of Teamsters employed by the companies.

"In our discussions with Kroger and Albertsons, we made clear that our members need more than vague promises about their future," said Tom Erickson, Teamsters International Vice President and Director of the Teamsters Warehouse Division. "If either company were truly sincere about protecting our members, they would agree to recognize our existing union contracts, or agree to successorship language for any of our member units sold to third parties, once the merger is complete. Instead of finding a path to ensure our members succeed in lockstep with the companies, Kroger and Albertsons apparently want to go down this road alone."

Founded in 1903, the International Brotherhood of Teamsters represents 1.2 million hardworking people in the U.S., Canada, and Puerto Rico. Visit Teamster.org for more information. Follow us on Twitter @Teamsters and "like" us on Facebook at Facebook.com/teamsters.

Contact:Daniel Moskowitz, (770) 262-4971dmoskowitz@teamster.org

View original content to download multimedia:https://www.prnewswire.com/news-releases/teamsters-oppose-kroger-albertsons-merger-301848779.html

SOURCE International Brotherhood of Teamsters

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.