Trading Partners

ELMWOOD PARK, N.J. — The Craft & Hobby Association (CHA) board of directors has announced the departure of Steve Berger as president and CEO of CHA. The board of directors will immediately begin a search for a new chief executive. No timetable has been set for securing a replacement. In the interim, Tony Lee, VP meetings and expositions, will serve as acting president and CEO.

Cincinnati -- Kroger Co. CEO and chairman David Dillon saw his pay fell again as the chain's sales and profit growth fell below tough targets amid continuing economic instability.

An Associated Press analysis shows Dillon received compensation for 2011 valued at $5.4 million, down 19% from 2009. It is the third straight year in which Dillon's largely performance-based pay fell.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.
 

Irvine, Calif. -- Passco Cos. LLC said it has purchased four CVS stores in sale-leaseback deals.
 
All four stores are newly constructed and recently opened by CVS, typical of the prototype for newer CVS retail/pharmacy stores. These features include drive-thru pharmacies, pick up stations, integration of CVS merchandise plans with interior design, and exterior signage modified to meet local ordinances.

Plymouth Meeting, Pa. -- Fameco Real Estate is opening an office in Center City, Philadelphia, to better accommodate the growth of its clientele in the market.

Fameco will be fully operational in the center city office at 1425 Walnut Street in early June. Fameco partners Jeffrey Cohen, Brandon Famous and Rick Schuch will spearhead this new initiative.

Dallas -- Transplace, a leading provider of transportation management services and logistics technology, announced that Anna’s Linens has selected the third-party logistics provider (3PL) as its 2010 Business Partner of the Year.

Anna’s Linens recognized Transplace, which manages all of the specialty retailer’s domestic transportation activities, for delivering supply chain improvements via the 3PL’s managed services solution and logistics technology.

BELLEVUE, Wash. — Drugstore.com on Tuesday announced the expiration of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to the proposed merger by which the company would be acquired by Walgreens in a cash transaction.

The deal previously was announced on March 24.

By Kevin Moffitt, crossview.com

New York City -- TIAA-CREF, a national financial services organization and a provider of retirement services for educators, and CBL & Associates Properties have formed a $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

TIAA-CREF will invest in four of CBL’s shopping malls: Oakland Park Mall, Kansas City, Ks.; West County Center, St. Louis; CoolSprings Galleria, Nashville; and Pearland Town Center, Pearland, Texas.