Source http://www.foodpolitics.com/2017/06/amazons-purchase-of-whole-foods-a-roundup/
I’ve been asked to comment on Amazon’s proposal to buy Whole Foods. So much has been written about it that it’s hard to add anything new.
My immediate thoughts:
- Monopoly capitalism in action
- Amazon owns everything
- This won’t help feed the poor
The facts: Amazon offered $13.7 billion to buy Whole Foods. This may seem like a lot of money but it’s just 3% of Amazon’s $470 billion holdings.
How did this happen?
- Whole Foods CEO calls it “love at first sight” and a “whirlwind courtship.”
- But the marriage depends on approval by anti-trust regulators.
What are the implications?
Effect on retailers: Their stocks dropped immediately. Amazon is serious compet…