*Tentative deal reached in grocery talks

The United Food and Commercial Workers had been working on a new contract with the three major supermarket chains - Ralphs, Vons, and Albertsons. No immediate details were announced on terms of the agreement, which will be presented to union members later this week. UFCW officials gave the chains a 72-hour notice late last week that their members would walk if talks remained at an impasse by early Sunday night. The deadline came and went, and negotiations continued throughout the night, suggesting that progress had been made. This morning, workers were instructed to report to work as usual, another good sign. Truth be told, neither side was exactly anxious to see a work stoppage - not with 12.5 percent unemployment in L.A. County and an already sharp drop in market share since the last strike in 2003. Keep in mind that in 2004 the three chains had a market share of almost 60 percent; today it's fallen to about 23 percent - a stunning decline that's the result of increased competition by Costco, Target, Wal-Mart, Trader Joe's, Bristol Farm, and hundreds of independent chains. "That's the fastest conversion rate in a retailer in that region that we've ever seen in U.S. history," Burt Flickinger III, managing director of Strategic Resource Group, told the LAT. And it's clearly had an effect - since the last walkout, Albertsons closed 67 locations, Ralphs closed 48 stores, and Vons closed 47.

*Joint statement from the three chains:

"We are pleased to have reached a tentative settlement agreement with the union that continues to preserve good wages, secure pensions and access to quality, affordable health care - while allowing us to be competitive in the marketplace.

Edited post