SAFEWAY INVESTORS LAUNCH 'NO CONFIDENCE' CAMPAIGN

WASHINGTON -- Safeway management found itself on the hot seat last week as a coalition of institutional investors launched a campaign here calling on other investors to withhold their votes at the chain's May 20 annual meeting.The coalition's goal is not to remove Steve Burd as chairman, president and chief executive officer of Safeway, but to amass a symbolic "no confidence" vote in Burd and two

WASHINGTON -- Safeway management found itself on the hot seat last week as a coalition of institutional investors launched a campaign here calling on other investors to withhold their votes at the chain's May 20 annual meeting.

The coalition's goal is not to remove Steve Burd as chairman, president and chief executive officer of Safeway, but to amass a symbolic "no confidence" vote in Burd and two other directors up for reelection this year to convince the company to be more responsiv

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