Word: ahold
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...INDICATORS Not Over Yet U.S. regulators settled charges against Dutch retailer Royal Ahold and three former executives related to last year's 3900 million accounting scandal. Separately, a Dutch court rejected requests from the three - and one other exec - to dismiss fraud charges...
...sometimes. I've done so many times myself. But the beauty of the blogosphere is that if you make a mistake, someone will soon let you know. And if you don't correct immediately, someone will let you know again. And again. Like Internet Jack Russell terriers, readers grab ahold of your pants and don't let go until you have made amends. Blogs that ignore critics will lose credibility and readers. It's the market at its purest. And readers may have more and better information at their fingertips than the best researcher in the world...
Whether patriotic or protectionist, country-of-origin legislation, after years of debate, got a boost from terrorism. "With 9/11, COOL took on a life of its own as a food-safety issue," says Barry Scher, vice president of Ahold, the supermarket conglomerate. "It got hard for Congress to look the other way." But retailers contend the law would do nothing to control contamination or pesticides, much less bioterrorism. And, they say, it would cause chaos in the grocery aisles. Should stores be fined $10,000 if a clerk tosses bananas from Costa Rica under a shelf tag reading ECUADOR? Should...
...Overachievers U.S. authorities charged four former executives of Dutch-based food services group Ahold - two of whom pleaded guilty - with conspiring to inflate the company's earnings by around $800 million between...
...trying to catch up. Not anymore. The board of British drug firm GlaxoSmithKline cut the pay package of CEO Jean-Pierre Garnier last December after shareholders voted it down at the annual meeting. (He still earned $5 million last year in salary and bonus, a 14% raise.) Even at Ahold, which was in need of a white knight following an accounting scandal last year, the new CEO, Anders Moberg, faced a storm of criticism over his guaranteed $1.68 million bonus for each of his first two years. That was on top of a $1.68 million salary and stock options...