Whole Foods CEO Sorry for Web Subterfuge

Online shenanigans draw board scrutiny along with SEC probe
By Dustin Lushing,  Newser Staff
Posted Jul 18, 2007 6:15 AM CDT
Whole Foods To Buy Wild Oats Markets For $565 Million   (Getty Images (by Event))
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(Newser) – The CEO of Whole Foods apologized yesterday for boosting his company and posting snide comments about a rival supermarket chain in Internet forums and said he "had fun doing it." John Mackey's actions over the last 8 years have already triggered an SEC investigation, and the company's board said yesterday it will launch its probe, the Wall Street Journal reports.

Mackey's online hobby came to light as the FTC began scrutinizing Whole Foods' bid to take over Wild Oats, the subject of some of his virtual scorn, for $565 million. The agency on June 6 to prevent the merger, arguing that competition would decrease and prices would surge; a hearing on the injunction is slated for July 31.