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:: Monday, February 02, 2004 ::
Safeway may oust CEO By Michael Liedtke, AP
SAN FRANCISCO -- Safeway Inc. chairman Steve Burd, a strong-willed chief executive who once ordered his supermarket workers to be cheerful, has little to smile about.
His slumping company is embroiled in a costly 3-month-old grocery strike in Southern California, where he is vilified by labor leaders, and his support is slipping on Wall Street. Nearly two-thirds of Safeway's market value has evaporated in the past three years, wiping out more than $20 billion in shareholder wealth.
posted 6:35 AM :: reference link ::
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