Ron Burkle will chair A&P under the new buyout plan.
The proposed new board of directors would also include two designees each from Goldman Sachs Asset Management and Mount Kellett Capital Management; one director selected by the United Food and Commercial Workers union; and A&P’s chief executive officer, Sam Martin. The former two companies are combining with Yucaipa on a $490 million deal to buy A&P out of U.S. Bankruptcy Court and operate it as a privately held company, as reported first in SN Thursday. The plan is predicated upon savings as a result of a new labor deal with the UFCW, which has yet to be reached.The Bergen Record: A&P Deal Called Positive for Unions, Business.
Read more: http://supermarketnews.com/retail_financial/burkle_ap_1104/?cid=upd#ixzz1d1mrohwR
Wall Street Journal: Yucaipa keeps A&P in its Grocery Basket.
More @ Reuters, Progressive Grocer.
The Westbury Times profiles a Local 338 member working at Waldbaum's and how the A&P bankruptcy is affecting workers.
Patch highlights how A&P's negotiations have been affecting local workers in Long Island.
Best Yet will take over for a shuttered Waldbaum's in Patchogue, Long Island.
The National Labor Relations Board accuses Target of intimidating workers at Valley Stream before their union vote this past June.
There's a Thanksgiving Food Drive at Dix Hills Stop & Shop.
King Kullen opened a new store Friday in Garden City, Long Island.
Rumors of a new "high-end" supermarket could be opening in Southampton.
30 workers at Master Food in Flatbush have been overworked and underpaid, Local 338 helped them win back wages and a union contract!
AFL-CIO Blog: For the third time in a month, senate repbulicans kill "Rebuild America Act," an act which would create hundreds of thousands of jobs.Workers at a Flatbush supermarket who charged they were illegally stiffed on their wages for years settled a lawsuit for $300,000 - and a union contract.The 30 workers at Master Food on Church Ave. charged they worked 12 hour days, six or seven days a week, for as little as $3.93 an hour, and never got required overtime pay. Read more: @ Daily News
The AFL-CIO Blog also lists Verizon and 29 other very large corporations who haven't paid taxes since 2007.
Unions supply food for thousands of Occupy Oakland protesters.
UFCW Blog: 80,000 Jobs aren't enough to re-start our economy.