WSJ reported on Friday that the Great Atlantic & Pacific Tea Co. expects to wrap up a complex new loan in "weeks, not months," buying time for the struggling grocer to implement its turnaround plan of cutting costs, selling assets and lowering prices.
Crain's covers the new Stop & Shop supermarket which opens, Friday in Queens. The store is one of the latest examples of a commercial project benefiting from federal tax-exempt funding.
The $23 million, 55,000-square-foot supermarket on the Rockaway Peninsula received $5.5 million in tax-exempt Recovery Zone bonds made available through the Obama administration's American Recovery and Reinvestment Act. Great job by using Federal Funding to create good UNION jobs!
Plans for a new Riverhead Wal-Mart are moving ahead.
Must Read: Sunday Time Magazine: Walmart & Shoppers- Will Win This WarThe Huffington Post looks at Walmart's big promise of "Local Food"
Walmart, back in the news again over accusations of exploitation of immigrant workers.
Last weekend it was Whole Foods' food storage problems, this weekend, the gourmet grocer Agata and Valentina decided to join the fun by storing some fish on the 1st Avenue. Check out the photos at the Gothamist.