Wednesday, October 20, 2010

Supervalu Takes $1.6B Charge

"Given the slower than anticipated economic recovery, we see a longer timeline for our corporate initiatives to gain traction," said Craig Herkert, president and chief executive officer.

I agree that the economy is recovering, although I'm not sure I ever thought it would be anything other than painfully slow.

As a former PR guy and public company spokesperson, I actually like Mr. Herkert's quote. It uses bad news to give good news. The recovery is slower than anticipated, but it's a recovery. The timeline is longer, but the initiatives will gain traction. His glass is half full.

http://supermarketnews.com/retail_financial/supervalu_recovery_1019/?cid=upd

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