Remember what happened to American retailing icon, Sears, after Ayn-Rand-following "Bozo" Eddie Lampert took over? The company is a disaster.
Cerberus plans to merge Safeway with another supermarket giant, Albertson's. Here's what Bob Miller, CEO of Albertson's had to say:
“Working together will enable us to create cost savings that translate into price reductions for our customers,” Bob Miller, Albertsons’ chief executive, said in a statement.
"Cost reductions" is a euphemism for job cuts. And don't think those "reductions" will be passed along to consumers because they won't...they'll go to bottom line profits that will line the pockets of the guys at Cerberus.