Between news of his forthright apology in the face of an SEC investigation:
Reuters: Whole Foods CEO sorry for anonymous Web posts
LOS ANGELES (Reuters) - The chief executive of Whole Foods Market Inc. (WFMI.O: Quote, Profile, Research) apologized to shareholders on Tuesday for anonymously posting comments about his company on the Internet as the organic and natural foods grocer said the U.S. Securities and Exchange Commission had launched a probe into the matter.
News of the SEC probe comes a week after court documents filed by the U.S. Federal Trade Commission revealed that Whole Foods Chief Executive John Mackey posted messages on a Yahoo! chat forum under an alias for years.
In the postings, Mackey talked up his company while predicting a bleak future for Wild Oats Markets Inc. (OATS.O: Quote, Profile, Research), the rival his firm is trying to acquire.
"I sincerely apologize to all Whole Foods Market stakeholders for my error in judgment in anonymously participating on online financial message boards," Mackey said in a statement on Tuesday. "I am very sorry and I ask our stakeholders to please forgive me."
And reports of Whole Foods conducting their own internal investigation:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a04wEySMHHFA&refer=home
Whole Foods Market Inc., the largest U.S. natural-foods grocer, said its board formed an independent committee to investigate postings made on financial message boards by Chairman and Chief Executive Officer John Mackey.
It looks more and more likely that Mr. Mackey will be required to fall on his sword for the good of the company. Bear in mind that I already called this. Not that I needed to be Faith Popcorn to see it coming.
Reuters: Whole Foods CEO sorry for anonymous Web posts
LOS ANGELES (Reuters) - The chief executive of Whole Foods Market Inc. (WFMI.O: Quote, Profile, Research) apologized to shareholders on Tuesday for anonymously posting comments about his company on the Internet as the organic and natural foods grocer said the U.S. Securities and Exchange Commission had launched a probe into the matter.
News of the SEC probe comes a week after court documents filed by the U.S. Federal Trade Commission revealed that Whole Foods Chief Executive John Mackey posted messages on a Yahoo! chat forum under an alias for years.
In the postings, Mackey talked up his company while predicting a bleak future for Wild Oats Markets Inc. (OATS.O: Quote, Profile, Research), the rival his firm is trying to acquire.
"I sincerely apologize to all Whole Foods Market stakeholders for my error in judgment in anonymously participating on online financial message boards," Mackey said in a statement on Tuesday. "I am very sorry and I ask our stakeholders to please forgive me."
And reports of Whole Foods conducting their own internal investigation:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a04wEySMHHFA&refer=home
Whole Foods Market Inc., the largest U.S. natural-foods grocer, said its board formed an independent committee to investigate postings made on financial message boards by Chairman and Chief Executive Officer John Mackey.
It looks more and more likely that Mr. Mackey will be required to fall on his sword for the good of the company. Bear in mind that I already called this. Not that I needed to be Faith Popcorn to see it coming.
I have no particular axe to grind, and bear John Mackey no ill will. However, the line is right there, spelled out for all to see. If you screw up, you have to accept the consequences. Like Kevin Spacey's grasshopper king said in the Pixar film A Bug's Life: "First rule of leadership is that everything is your fault!"
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