With the Academy Awards still a recent memory I was thinking about Albertson's Oscar-caliber performance the other week at its analyst and investor conference in New York. The presentation by management hit all the bases. It was part-informational, part-cheerleading session. It benefited from fancy visuals and catchy music. The elegant room at the Pierre Hotel was filled with banners heralding the Boise, Idaho-based retailer's brands. And the storyline was first-rate: the still-new chairman ...

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