It's about having a strategy that connects with your specific consumer. Traditional grocers are saying, 'I'm here to sell groceries to everybody,' but that model died 15 years ago.

Three dollars is too much. I think that's when people will start to do something about it.

The idea of a grocery store for all people in a major area hasn't made sense in years. The volume is going to alternative formats. When you look at Whole Foods and Trader Joe's and even Smart & Final, each one of them attracts a different consumer. Why do we need an Albertsons?

But when you try to out-Wal-Mart Wal-Mart, how dumb are you? I tell people to quit playing that game. Wal-Mart has plenty of weaknesses that you can exploit.

That whole rush has already happened. Before they came in saying, 'Show me a dog from Louisiana.' We want them to get homes fast.

He said they try to do their best to clear accounts but made a point of saying that they can't be held responsible.