British grocer Sainsbury’s in merger talks with Walmart unit
Years back I read an article about corporate monopoly and the down side of it. Slowly but surely, we are witnessing just that with the mergers and acquisitions of gigantic companies joining forces.
LONDON — Sainsbury’s, the U.K.’s second-biggest grocery chain, said Saturday it is in advanced discussions about a merger with Walmart Inc.’s British unit, Asda, as retailers adjust to swiftly changing shopping habits.
The combination would create Britain’s largest supermarket chain, with more than 30 percent of the market, putting it ahead of the current leader, Tesco. J Sainsbury plc, the chain’s corporate name, released no other information about the potential deal and said it would make another announcement before the London stock market opens Monday.
If we think a loaf of bread or a gallon of milk is expensive now, just wait until there are only 2 or 3 major companies that control the industries. We haven’t seen anything yet.
By taking away the competition they will be-able to name their own prices without restrictions.
I have said many times; I do NOT believe in government intervention, BUTT in some extreme situations I do. It is the responsibility of ALL governments to make sure their citizens are not getting screwed by big business. BUTT that is NOT what is happening when they allow greedy, money-mongering companies like Amazon and Walmart to control the industries. Taking away the competition is the worst thing a government can allow the big boys to do.
BUTT, when many of the politicians have ties and investments in these companies, which way do we think they are going to vote.
These gigantic monopoly mothers are not satisfied with 3/4 of the pie, they want it all. Through the years, they have put so many Mom & Pop/smaller stores out of business it is shameful. If the governments continue to allow this gobbling up trend to continue, we are really going to be screwed, blued and tattooed.
Get out the Vasoline folks, the price of poker is going up.