So we want to get that number because they are throwing in a bunch of things that we don't believe are the same. 3 - we still don't have the number on - when you look at the grocery store market and you don't include things like restaurants, we still don't have the number of what their combined dominance will be, No. 2 - how are they going to handle these stores that they divest, and will there be even more? And No. KLOBUCHAR: Well, we're going to ask about how the proposed merger will affect consumers - No. MARTIN: So what specific questions are you going to ask today? Yes, you're going to be able to get milk and a few other items, but it's certainly not the same thing as having access to fresh food and the like. And, you know, it's not the same thing as they may argue today to go to, say, a CVS and try to find some food in there. And one-third of the grocery stores have closed in the last 25 years, leaving over 10% of Americans in low-access food areas. And you have got areas in our country - maybe not where everyone lives that's listening, but that have no access. MARTIN: So that means potentially there will be communities with fewer grocery stores, you're saying? And what happened was the company they sold them to - of the 100 divested stores, as a result, 100 of them - of the 150 stores, 100 of them were actually closed for good. This was tried before by Albertsons in the past. KLOBUCHAR: Well, what you're worried about - first of all, these stores have already come forward and said, you know, we are directly competing with each other, so we would have to divest at least 375 stores. MARTIN: What are you worried about, Senator? I mean, is there evidence that this merger goes through and automatically prices go up? KLOBUCHAR: And the effect it has on costs and quality. And the whole focus is, let's get the information from these two CEOs and other witnesses under oath - helpful for the FTC to make its decision, but also for the senators, because we're considering legislation relevant overall with antitrust, given the changing economy that we're seeing right before our eyes. KLOBUCHAR: He and I - yeah, we're holding a bipartisan hearing. Senator Lee - you know, conservative Republican. The FTC will be ultimately making the decision on this proposed merger, but we have a hearing. Albertsons has Albertsons, Safeway, Balducci's, Jewel-Osco - you name it - Pavilions, Vons. It has Harris Teeter, Fred Meyer, King Soopers, Ralphs. So let's go with the Kroger brands are - Kroger's (ph) has Kroger's, and it has Food 4 Less. KLOBUCHAR: It would affect literally every community in the country because so many communities have one of these stores or could have one of these stores in the future. If this grocery store merger goes through, how many communities would be affected? How - put - help us put this particular proposed merger into context. Whether it's Ticketmaster, whether it is tech companies, we are seeing so much consolidation in our economy from cat food to caskets. And it's great to be on to talk about what, as you know, is beyond grocery stores. Senator, thanks for being here.ĪMY KLOBUCHAR: Well, thanks so much, Rachel. Democratic Senator Amy Klobuchar of Minnesota is one of them, and she is among the group of senators holding a hearing on this today. Some lawmakers are concerned about how that might affect consumers. Safeway, Harris Teeter and Fred Meyer would all be part of the same corporation as a result. Kroger is trying to buy Albertsons for $25 billion. And now two of the nation's biggest grocers are planning to merge, becoming a supermarket giant big enough to compete with Walmart. High inflation has Americans paying close attention to how much we all spend on groceries.
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