Albertsons CEO Larry Johnston's $8 million raise in 2005 - and ...

Full story: Idaho Statesman

Edition Date: 04-23-2006 Albertsons CEO Larry Johnston's $8 million raise in 2005 - and the raises that other top company executives received - seem out of line during a year when the Boise-based grocery chain ...
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kevin williams

United States

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#1
May 4, 2006
 
Larry Johnston is the biggest idiot ever, he is the reason Albertsons is going down. He doesnt have the slightest idea on how to run a company, except how to run it into the groung
california-man

AOL

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#2
May 9, 2006
 
kevin williams wrote:
Larry Johnston is the biggest idiot ever, he is the reason Albertsons is going down. He doesnt have the slightest idea on how to run a company, except how to run it into the groung
that he's done a good job doing
abraxas

United States

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#3
May 11, 2006
 
california-man wrote:
<quoted text>
that he's done a good job doing
Where do Albertsons make their semiconductors, anyway?
I Got Out

Redmond, WA

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#4
May 27, 2006
 
LJ with Albertsons LJ with Home Depot. Both overpaid CEOs. Both had LJ on board of directors. Both CEOs came from GE. Get the Picture?
LJ and Ken Lay would be great cell mates IN MY OPINION
WHY WHY

AOL

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#5
May 30, 2006
 

Judged:

1

Does anyone now how much an idiot Larry Johnson really is he got paid and ruining thousands of peoples life what a piece of dog $H!T
idaho

Ketchum, ID

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#6
May 31, 2006
 
I can't believe how much money he thinks he deserves for killing a company. What about all the hard working people at store level who actually earned their money by selling groceries? What in the world has he done but take money? How is this legal? I pray for all the hard working Albertson's associates. I hope we are all treated better by Supervalu.
Are you kidding

Boise, ID

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#7
Jun 2, 2006
 
Obviously none of you know anything about the corporate world.
Larry Johnston's "golden parachute" was put in effect 6 years ago before he even started at Albertsons AND the Board of Director's that hired him gave him the job with that offer in place.
This isn't something that he made up when the BOARD of Director's decided to sell the company.
It's a clause that is placed in a Executive's 'contract' when they are hired on. It's basically a strategy that Boards put in to lure Executives into taking jobs. It's their security for the Executive leaving one job and going to the unknown.
Anyone that understands the corporate world knows that LJ didn't make this decision on his own. He's just the one being blamed for it all.
Too bad the news doesn't bother to explain that to you all.
latino

AOL

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#8
Jun 2, 2006
 
no worry same !!!!!!!! high prices no service !!!!!!!!!!part timers pay nothing !!!!!!!!!!no benefits!!!!!!!!!!star fresh 5.25 for hour
Flyfisher

Mission Viejo, CA

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#9
Jun 2, 2006
 
Are you kidding wrote:
Obviously none of you know anything about the corporate world.
Larry Johnston's "golden parachute" was put in effect 6 years ago before he even started at Albertsons AND the Board of Director's that hired him gave him the job with that offer in place.
This isn't something that he made up when the BOARD of Director's decided to sell the company.
It's a clause that is placed in a Executive's 'contract' when they are hired on. It's basically a strategy that Boards put in to lure Executives into taking jobs. It's their security for the Executive leaving one job and going to the unknown.
Anyone that understands the corporate world knows that LJ didn't make this decision on his own. He's just the one being blamed for it all.
Too bad the news doesn't bother to explain that to you all.
I've looked all over this board and I can't find one comment on Larry's "Golden Parachute" What I do see is people rightfully angry over some ASS-OLE getting paid what he does for totally screwing up a once great company and then getting an 8 million dollar raise for it. So quit flapping your gums and trying to impress everyone on how you understand the business world your putting us all to sleep.
motomom

Media, PA

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#10
Jun 2, 2006
 
LJ is a drunken ass. He'll run another company down to the ground just like his buddy is doing at Home Depot is doing as we speak.
Idahoan

Corning, CA

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#11
Jun 2, 2006
 
It's a shame that Albertson's picked this unaccomplished coat tail riding baboon in the first place. Let's get past the fact that LJis nothing more than a slimy dirt bag. As hard as this is to say, LJ is not the one who ruined Albertson's. LJ just help twist the knife that had been in the Albertson's belly for so long. I think the demise of Albertson's started when Joe himself turned over the ropes. Very rarely can you replace hard working entrepreneurs with sons and family members. If you don't believe me just look at Simplot's. Ol' JR turned the ropes over some time ago and they are slowly dwindling away everything he achieved. The problem is he turned it over to his kids who's privledged lives just aren't fit for running a business.
An Associate

Rancho Cucamonga, CA

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#12
Jun 3, 2006
 
Are you kidding wrote:
Obviously none of you know anything about the corporate world.
Larry Johnston's "golden parachute" was put in effect 6 years ago before he even started at Albertsons AND the Board of Director's that hired him gave him the job with that offer in place.
This isn't something that he made up when the BOARD of Director's decided to sell the company.
It's a clause that is placed in a Executive's 'contract' when they are hired on. It's basically a strategy that Boards put in to lure Executives into taking jobs. It's their security for the Executive leaving one job and going to the unknown.
Anyone that understands the corporate world knows that LJ didn't make this decision on his own. He's just the one being blamed for it all.
Too bad the news doesn't bother to explain that to you all.
Are you joking? Yes, the parachute was in place, but what about the raise he voted for himself? I sure would like 8 million for putting the company on the blocks. How about the extra 350,000 shares that he can't sell for four years unless the company is sold? Wait, he has already sold the company when he voted himself the raise and the shares. Sorry buddy, I know about the perks used to lure CEO's, but get real, LJ has gone far past perks in bad spot. Albertsons was making a profit before he put the plan before the board to seek "strategic options". He had control of the 60% proxies that were used on tuesday in his home town of NY to seal the deal with Super-Valu. He is getting the blame because he is the president, CEO, COO, chairman of the board, and grand pooba of the whole thing. Yes, sometimes CEO's get a raw deal when the blame game is played, but LJ is more just a scapegoat, and he is getting paid his thrity peices of silver. Let the steaming pile of dog $h!T get what he deserves.
chillychill

Elk Grove, CA

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#13
Jun 3, 2006
 
Some people do understand you uneducated simpleton...have you ever heard of the words "I can't accept"? He (LJ) could have turned down the bonuses and other amendities he recieved throughout the last couple of years that the company was under performing. I don't work for Albertsons anymore, but I can't handle the way corporate ass wipes get everything and the people that make the company's money get screwed. Please respond when you remove Larry's penis from your mouth.
bugsbunny

Boise, ID

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#14
Jun 3, 2006
 
"My vision is for Albertsons to be the No. 1 food and drug retailer in the world. That could take decades to achieve, but that's the vision we have, and we believe that as the industry consolidates and globalizes, we will remain ..."
That's a quote from Larry from 2003.

Larry, get your alcohol-soaked face the heck out of our town, and don't be stupid enough to show it here in Boise ever again.

The millions we spent to kick you to the curb is the best money we ever spent.
happilyeverafter

Rancho Santa Margarita, CA

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#15
Jun 5, 2006
 
Hes ann ass what compant is going to let him run them down next?
Former Lucky Employee

Tempe, AZ

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#16
Jun 7, 2006
 
It is funny that the whole marriage of Lucky's and Albertsons was a scandal in the first place. Kroger offered more for American Stores than Albertsons. But because of friendships and sneaky backroom deals we were stuck in the hole. I worked for 23 years for Lucky then American Stores then Albertsons. Albertsons as a company, ruined the whole shopping experience. They lost connection with the customer and their employees. They raised the prices .40 and then lied that they raised them. They said that they were only bringing them up to their price structure. To me that is raising prices. Especially when Albertsons had a reputation as having the highest prices. I have heard that Albertsons has the second most employee lawsuits against them second only to Walmart. As far as LJ is concerned he was so intent on making Albertsons technically advanced forgot that he sold groceries not IT solutions.
An Associate wrote:
<quoted text>
Are you joking? Yes, the parachute was in place, but what about the raise he voted for himself? I sure would like 8 million for putting the company on the blocks. How about the extra 350,000 shares that he can't sell for four years unless the company is sold? Wait, he has already sold the company when he voted himself the raise and the shares. Sorry buddy, I know about the perks used to lure CEO's, but get real, LJ has gone far past perks in bad spot. Albertsons was making a profit before he put the plan before the board to seek "strategic options". He had control of the 60% proxies that were used on tuesday in his home town of NY to seal the deal with Super-Valu. He is getting the blame because he is the president, CEO, COO, chairman of the board, and grand pooba of the whole thing. Yes, sometimes CEO's get a raw deal when the blame game is played, but LJ is more just a scapegoat, and he is getting paid his thrity peices of silver. Let the steaming pile of dog $h!T get what he deserves.
not born yesterday

Bartlesville, OK

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#17
Jun 8, 2006
 
Are you kidding wrote:
Obviously none of you know anything about the corporate world.
Larry Johnston's "golden parachute" was put in effect 6 years ago before he even started at Albertsons AND the Board of Director's that hired him gave him the job with that offer in place.
This isn't something that he made up when the BOARD of Director's decided to sell the company.
It's a clause that is placed in a Executive's 'contract' when they are hired on. It's basically a strategy that Boards put in to lure Executives into taking jobs. It's their security for the Executive leaving one job and going to the unknown.
Anyone that understands the corporate world knows that LJ didn't make this decision on his own. He's just the one being blamed for it all.
Too bad the news doesn't bother to explain that to you all.
what? do you think that everybody is as stupid as YOU!!!!!!! Who the hell do you work for LARRY JOHNSTON?? if you are, you will not see a single shiny penny of his money. why don't you wake up an stop being afraid of speaking the truth.
sassy

Arvada, CO

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#18
Jun 8, 2006
 
As an albertsons employee; it sucks to find this all out and to hear that they will give you only three days notice as to when they are kicking you to the curb. I have only worked for the company for litttle over a year, but I worked so hard everyday for the company. I took pride into my job everyday and to hear that I am losing my job, it sucks! I agree with everyone's frustrations on how this is not the best thing for them to do, but obviously they are not thinking of others just the wonderful bonuses that every surviving employee gets.
OfficeWorker

Boise, ID

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#19
Jun 9, 2006
 
You want to see what LJ received from the company for selling us out, go to this link.

http://www.idahostatesman.com/apps/pbcs.dll/a...
OfficeWorker

Boise, ID

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#20
Jun 9, 2006
 
Also just in case you did not hear, LJ awarded each member of the board of directors 3,124 shares of stock on June 1, 2006.

That is about $83,000.00 which is above what they get paid for being a board member.

Can you say Pay-off.

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