SEC probes Whole Foods ceo comments
AUSTIN, Texas and NEW YORK The Securities and Exchange Commission is investigating comments allegedly made by Whole Foods Market ceo John Mackey on Internet chat rooms regarding Wild Oats Market from 1999 to 2006. Using the alias "rahodeb," Mackey said that Wild Oats Markets' stock was too high and that the company would go bankrupt.
On the Whole Foods Web site, Mackey confirmed that he did submit a number of postings to the Yahoo! financial bulliten boards regarding Whole Foods and Wild Oats under the name "rahodeb." He added that the comments he made did not always reflect his personal views and that he was merely playing "devil's advocate," in order to stir up discussion on the topic.
"Rahodeb's postings therefore do not represent any official beliefs, policies or intentions by either Whole Foods Market or by me," said Mackey.
According to Mackey, the Federal Trade Commission, which obtained information about the postings through the documents Whole Foods provide them, is referring to rahodeb in their legal documents in an attempt to embarrass himself and Whole Foods.