AUSTIN, Texas—In response to FTC's publication Oct. 7 of proposed changes to its Rules of Practice, which relates to its decisions on mergers, Whole Foods Markets submitted scathing comments to the agency and called for other companies to band together against what the company claims is a sneaky attempt by FTC to rob businesses of due process. Whole Foods accused FTC of trying to push through radical changes in a limited 30-day comment period, just weeks before the Presidential election and amid a national economic crisis.
At the heart of the FTC changes opposed by Whole Foods, the agency proposes "that the actual date for the evidentiary hearing would be five months from the date of the complaint in merger cases." However, the company notes FTC Commissioners have frequently admitted the merger review process is highly fact-intensive, which would imply a longer time period is needed.
Comments on this proposed amendment and change are due Nov. 6, 2008. View the document here, and submit comments here.