Whole Foods CEO John Mackey said Tuesday that the Federal Trade Commission’s pursuit of antitrust claims in his company’s acquisition of Wild Oats is “almost a vendetta” and is wasting time and money.

Illinois Gov. Rod Blagojevich was arrested on Tuesday on charges that he brazenly conspired to sell or trade the U.S. Senate seat left vacant by President-elect Barack Obama to the highest bidder.

Federal Indicment (PDF Format)

“I don’t think you will stay at that level very long because you are going to start shutting down a lot of projects,” he said at a press conference in New York. “It will be obvious we can’t sustain anything like that.”

Novellus Systems Inc. on Tuesday said it plans to cut 10% of its workforce and warned that its results for the current quarter will be “below the low end” of guidance due to weakening demand.

The online edition of The Wall Street Journal, citing unnamed sources, reported Monday that Morgan Stanley’s John Mack decided to forgo his bonus because it “would send the wrong message.”