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Saturday, November 27, 2010 

Whole Foods sinking under the weight of healthcare costs

Wonder if Mr. Mackay will take back his libertarian diatribe against the Healthcare Bill.
In a memo that he sent to all employees last month, obtained by Mother Jones, Mackey concedes that Whole Foods is actually sinking under the weight of its health care expenses. In the past seven years, he writes, the cost of the company's health care plan as a percentage of its sales has gone up 60 percent. This year's tab is "equal to about 10% of the total Team Member compensation of $2 billion," Mackey complains. "On average over the past three years we have spent more on health care costs than we have made in total net profits!" - MotherJones

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