The Idaho headline today – that Albertsons will not sell itself off and will remain a company, headquartered in Boise – will no doubt be cheered widely. And for good reason, considering the alternative: Albertsons staying in Boise is undoubtedly a good thing for Idaho.
Still, Boiseans would be wise not to invest too much emotion in the pronouncement from CEO Larry Johnston. They should remember that the corporation came to the brink of selling itself, pulling back only at the last moments. Whatever pressures led the firm’s leaders to consider the selloff over a period of months have not gone away; in fact, Albertsons stock dropped hard after word that the sell deal had failed.
Johnston’s comment was that “It is business as usual.” Okay. And good.
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