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February 23, 10

I was given a subscription to the Wall Street Journal, a few years ago.

Now as I start the morning fire I am using those old copies as fire starter.

Some of the headlines are interesting, to say the least.

This morning I learned that the ratings firm Standards and Poors has downgraded three grocery chains to junk bond status. They were Kroger, Safeway and Albertsons.

Albertsons was once was a local company. It was started down the street by a guy named Joe. Now it is a division of some other company based in Minnesota or Milwaukee or someplace. When it was a local company it did pretty well, but the biggies decided the company should be a really biggie and they spent too much of other people's money.

The final irony was that a guy came in as president, made 25 million by selling the company.

Of course with the sale went a few thousand good jobs.

My loyalty went away a long time ago.