Whole blogging…

June 20, 2007

images2.jpegWe take a break from our usual trawl through SEC filings to take a look at something that hasn’t been filed: this blog post from Whole Foods (WFMI) CEO John Mackey, which went up late yesterday on Mackey’s blog. The post, which responds to some unflattering quotes that the Federal Trade Commission says that Mackey made to his board of directors regarding the deal to acquire Wild Oats (OATS) has generated a significant amount of media attention. For those who haven’t heard it yet, the money quote from Mackey is this: “By buying (Wild Oats) we will avoid nasty price wars in Portland (Oregon and Maine), Boulder, Nashviille and several other cities which will harm Whole Foods’ gross margins and profitability.”

In his post, Mackey talks about the “bullying tactics used against Whole Foods by this taxpayer-funded agency” and says the talk of the price war was nothing more than some “macho internal company posturing in a few emails.”

Yet, despite Mackey’s detailed posting, none of this is part of an SEC filing. Maybe Whole Foods plans to do that later today. Or maybe, they consider the blog post to be public enough. Still, given what Chris Cox has said before about CEOs using their company blogs to disclose information, including this interesting exchange with Sun Microsystems (SUNW) CEO Jonathan Schwartz, it will be interesting to see exactly how the SEC treats this type of disclosure.

UPDATE: About an hour and a half after I posted this, Whole Foods, did wind up filing this 8-K, which outlined Mackey’s post and provided a URL for investors to find the post.

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