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Friday, October 5, 2007

Whole Foods board sticks with wacky Mackey

The founder and CEO of the Whole Foods grocery chain, John Mackey, is quite a character. For a while he was posting tons of messages about Whole Foods and Wild Oats on internet chat boards, using a pseudonym ("rahodeb"). Earlier today, the board of directors of Whole Foods said it had complete its investigation into the postings and was still supporting Mackey.

No word on whether critics who have called for his resignation, or investigators at the SEC, will be satisfied. Mackey's blog is still on hold, however...

Comments (2)

I don't get it.

If he didn't engage in libel or leak inside information, what is the big deal?

If someone other than him had posted the same things anonymously, there wouldn't be a crime.

Why does it make a difference that he is the anonymous poster?

Why does he lose the right to post anonymously because he is an officer of a publicly traded company?

What you had there was a corporate insider who was attempting to manipulate via the internet the markets in both his own company's stock and that of a competitor that he was getting ready to take over. That kind of stuff is very sleazy and, one would hope, illegal.

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