Albertson buyout

You folks are undervaluing what Larry will get, because of the 8 million dollar raise he gave himself the value of his golden parachute is now 52.6 million and he gets tax considerations on it also, which even raises the value higher. If that is not enough, the company will have to buy his house if he can't sell it in a short amount of time.

The share holders should sue the board of directors and LJ for mismanagement and recover some of the money that he has been overpaid.

Today I read in the paper that Albertson's Corp. paid the Boice city police $20,000 for protection for LJ after he made the buyout anouncement.

The Union did not sell the workers out. The members voted and knew of the consequences of what may happened.

wish I knew wrote:

Is anyone here involved with off the clock lawsuit and if so have you heard anything as to when this will be paid out. I would think ALbertsons would have to pay all debt before the sale could be finalized. Does anyone have an answer or has anyone talked to any of the lawyers about this. The thing is the lawyers already got their payment. It think it is about time we got ours NOW too.

I am wondering the same exact thing. I guess the lawyers got their so the rest of us are out of luck.

wish I knew wrote:

Is anyone here involved with off the clock lawsuit and if so have you heard anything as to when this will be paid out. I would think ALbertsons would have to pay all debt before the sale could be finalized. Does anyone have an answer or has anyone talked to any of the lawyers about this. The thing is the lawyers already got their payment. It think it is about time we got ours NOW too.

Have you been able to aquire any information whatsoever on when the employees claims will be paid. I hav been looking all over the internet with no information seemingly out there.

What is terrible, is all of the lying they do to the employees about how everything is going to be better than great....then why are they all of a sudden moving mass quantities of employees from my store? I smell a store close! And they refuse to let us know what is going on. Didn't anyone else find it funny that Cerebus is the three-headed dog guardian of the gate of Hades?

employee fom Texas wrote:

What is terrible, is all of the lying they do to the employees about how everything is going to be better than great....then why are they all of a sudden moving mass quantities of employees from my store? I smell a store close! And they refuse to let us know what is going on. Didn't anyone else find it funny that Cerebus is the three-headed dog guardian of the gate of Hades?

I am betting if you are like us, today will be your D Day. We have seen lots of things that make us suspect we are closing, including several people being asked to "help out" our sister store. Today there are conference calls this. Two different times though-and the earlier call has a shorter list of stores. It seems really obvious to us what's going on. Why can't they just come right out and say it? Good luck to all of my brothers and sisters out there.

The employees of Albertsons many of which are shareholders through our 401K should think about a class action suit against LJ and the board of directors for mismanagement of the corporation. This maybe the only way to get their deeds in the major press. This may just work to recover some of the money paid to them, since they decided to not accept a $30.00 per share offer that would have made them stay working. The big advantage to the offer they did except which ended up being around $26.58 a share was getting ride of them.

We received a personal meeting to be told ours was one of 16 stores closing in our area. At least Cerebus told us before the news got the info!

Aurora- CO wrote:

We received a personal meeting to be told ours was one of 16 stores closing in our area. At least Cerebus told us before the news got the info!

When we saw the bigwigs gather outside 5 minuts before 8 we knew we were right. At least the guys they sent us were good guys-you all know who the jerks are and I think there would have been a riot if one of them told us. It's not their fault-their jobs are in jeopardy as well.
666-I thought the terrorists would strike, but it is Doomsday for some of us.

Remember before the marriage that stocks were at $53+ per share? I also remember us dept heads after the announcement going to the office, made a phone call, and sold all of our stock. After that the stock fell and if I remember correctly never went higher than$30/share. I also remember that the stock used to split every couple of years at $60+/share. I wonder if we will ever see that happen again.

Okay just drove by Albertsons at Fifteenth and Broadway in Edmond and its closing
Does anyone know if the Albertsons on Danforth and Bryant is going to close
Whos going to take these big box spaces after theyre empty

We as employees are always left out in the cold. They promise us the world and then the dump the world on us. I think they should have to let the employees know these things ahead of time for us to plan. Anyone out there going on medical leave of absence? If so look out you will be screwed. I went on leave and was paid short term disability (a portion of money, not enough) I did not go back after a year so they cancelled my health insurance(without telling me until after) and paid long-term disability. They decided to stop after 6 mos. deeming it was long enough for a mental illness--Albertsons chooses the times for us. Now I've not been released to work and my home is being taken away from my family--I have 2 kids and we just got back in the house after Ivan in Jan 2006 from rebuilding total destruction. As if we did not have enough problems. Now when SuperValu bought Albertsons they put me on the temporary employment list because I am on leave. Talk about a slap in the fact!!!!! They should give us at least a few thousands for our hard work making them all that money. I'm in Pensacola, FL