business news in context, analysis with attitude

...with brief, occasional, italicized and sometimes gratuitous commentary...

• The Minneapolis / St. Paul Business Journal reports that since Supervalu has not been able to find a replacement for CFO Sherry Smith, who it already had announced would be leaving the company at the end of the month as part of CEO Sam Duncan's executive suite shakeup, it will pay her a retention bonus of $300,000 to stay in her job through the end of July. That's in addition to her usual salary.

The Smith family just got a much better August vacation than it was expecting...

Reuters reports that "Earthbound Farm Organic, the largest grower of organic produce in the United States, is exploring a sale of the company," and "has hired Barclays to sell the company in a deal that could be worth $600 million to $700 million."

According to the story, "Earthbound Farm grows and packages items including salads, vegetables and fruit. Founded in 1984 on a 2.5-acre backyard garden in Carmel Valley, California, it has since expanded to 26,000 acres. The company was the first to sell pre-washed bagged salads, which are now available in 75 percent of all U.S. supermarkets, including retailers such as Costco Wholesale Corp, Walmart Stores Inc and Whole Foods Market Inc."
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