Rite Aid has been suffering even before the present economic crisis. This chain began in 1962 with one store in my hometown of Scranton, and is presently headquartered where I now reside, near Harrisburg. It was founded by an extraordinary gentleman, named Alexander Grass, whose vision, hard work and wisdom made the company a success. He's been a noted philanthropist too, generously giving away millions for schools, hospitals and centers for the arts.

I'm guessing about 7 years ago he stepped down and handed the reins of the company to his son, Martin. Alexander planned to remain on the Board in an advisory capacity, but Martin, exercising his newly acquired authority, removed his dad from the company, thinking he would be a distraction to his new course of improving Rite Aid. Since then, Rite Aid has been found to engage in a widespread pattern of billing Medicare and insurance companies for fabricated prescriptions. Also, Martin and his officers were found guilty of accounting irregularities, designed to mislead investors, and he, his attorney and several of his execs are serving time in federal prison.

An example of the difference between Alex and Martin:

Martin arranged to have a luxury helicopter, complete with a bar, take him to Baltimore for the occasional business or shareholder meetings. Alex would drive his Chrysler the hour and a half and stop at a spot for ice cream where he had befriended the shop owners.