WORKPLACE: USTC’s Push Sends Albertson’s Flying, April 1995

USTC’s Push Sends Albertson’s Flying

Published, April 1995

Sustained pressure on Albertson’s to disclose its equal employment opportunity (EEO) record finally paid off last month when the supermarket chain agreed to our 1995 shareholder proposal. USTC filed the resolution with Albertson’s when our analysis of the company’s 1989-1994 EEO statistics showed limited progress with respect to representation of women, and particularly minorities, in management.

An Albertson’s stockholder for over 10 years, USTC owns more than one million shares. Our formal dialogue with Albertson’s began in 1992 when unsuccessful attempts to learn about its EEO performance led USTC and other shareholders to file our first EEO public disclosure resolution. After several meetings and a commitment to limited disclosure, shareholder proponents withdrew the resolution. According to USTC’s Social Research Manager Heidi Soumerai, “We had developed a good relationship with Albertson’s based on open, ongoing dialogue and felt they were in the early stages of progress.”

In an effort to address our concerns and resolve the 1995 shareholder proposal, USTC’s Ann Taylor met with Albertson’s CEO, senior managers and department heads at the firm’s Boise, Idaho headquarters earlier this year. To stave off a proxy vote by shareholders, Albertson’s officials offered a number of concessions which included: 1) publishing a public interest report that will describe the company’s commitment to fair employment and diversity issues; 2) providing USTC with annual EEO statistics and meeting periodically to discuss these issues; 3) publishing information showing women and minority trends as well as recent program modifications and additions; and 4) printing 15,000 copies of the report to be sent to each store, distribution center, division office, financial mailing list, as well as making it available at the firm’s annual meeting. When pressed, company officials further agreed to reference the availability of this document in the annual report. The 25-30 page public interest report, entitled Core Values, is scheduled for release in June 1995.

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