business news in context, analysis with attitude

Fleming Cos. announced that it has been told by the federal government that the US Securities and Exchange Commission (SEC) probe into possible accounting irregularities at the wholesaler has been formalized.

The company also said that it will eliminate 1,800 positions, or 15 percent of its staff, in an effort to cut costs and debt.
KC's View:
Man, it’s getting depressing to keep writing these stories everyday. And just when we think we can’t be surprised anymore, something else pops up to stir up out outrage.

We can’t shake the sense that this is all just beginning.