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<< Breaking News >>

Supermarkets Leaving Neighborhoods
Note: Bristol Farms is wholly owned by Albertsons
Albertson’s supermarkets are leaving low-income communities in California, either permanently or to be replaced by high-end stores that are unaffordable to most.

Read the full story at BeyondChron.org


** Note: Bristol Farms is wholly owned by Albertsons **

Larry Johnston - the
105.5 million dollar man:
Albertsons CEO to get TAX FREE pay day -- while his employees get PINK SLIPS!

June 2, 2006

Larry Johnston, the $16 Million CEO. He's smiling at your expense.
Larry Johnston, the $105 Million Dollar man. He's smiling at your expense.
Larry Johnston, Albertsons Inc. CEO, will get a multimillion-dollar "golden parachute" when the Boise grocery chain is sold to SuperValu Inc. and its buyout partners.

Here's what Johnston will receive in cash, stock, health and other benefits, along with income tax reimbursements on his "golden parachute":

• $8.85 million for severance of three times his base pay.
• $482,212 for his pro-rated annual bonus.
• $35,818 for 36 months of health and other benefits.
• $50,000 for outplacement services.
• $100,000 for relocation expenses.
• $159,208 for fringe benefits.
• $20.4 million for his life annuity, if he takes it as a lump-sum payment.
• $627,111 from the company's long-term incentive plan.
• $3.7 million from the company's deferred-compensation plan.
• $28.9 million if he cashes in his 1,100,461 stock options at $26.29 each.
• $29.3 million if he cashes in his 1,114,753 shares of stock at $26.29 each.
• $12.9 million to pay the income taxes on the package.

Read the full story at IdahoStatesman.com

 
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