Previously, I wrote a Seeking Alpha article last February providing you a critical discussion of the last 15-year corporate history of Rite Aid (NYSE:RAD). It included examples of senior-level gross incompetence or simple mismanagement, board malfeasance including poor decision-making and self-dealing, cronyism, and let us not forget personal corporate greed, which this shareholder believes was the prime motivator to sell the company to Walgreens (NASDAQ:WBA) now.
The senior management and its directors have surrendered their long-term road to maximization of shareholder equity for the short-term goal of personal and immediate wealth and turned the "potential" corporate keys over to Walgreens, with apparent new jobs already waiting for some of them at Fred's (NASDAQ:FRED). A win-win for them, not so much for the Rite Aid common shareholder.
