musta been one hell of a CEO...
Posted on 07/26/2014 9:51:59 AM PDT by SamAdams76
In fact, there one and only demand is that the supermarket chain reinstate the CEO that they fired about a month ago.
Never seen anything like this before. Will be interesting to see how this turns out.
Anyway, all around Massachusetts and New Hampshire, the Market Basket stores are effectively closed. They are technically open and the employees are earning wages for their shifts, but they are standing outside the stores and urging customers to not go inside.
Not just the hourly employees but the salaried managers as well. They are all willing to shut down the business in order that the board of directors give in and hire back their beloved CEO.
As well, over 100,000 customers of this chain have signed petitions stating that they will no longer shop at Market Basket unless the CEO is re-hired.
So?....Just **why** did they fire the former CEO.
Hm?...My bet? He said something that wasn’t PC. Hm?....Maybe he attends a **Christian** church!
Interesting that they replace one CEO with two co-CEOs. That, plus the replacements seem to have no experience with supermarket chains.
This IS interesting. All the employees must have saved up quite a bit to handle losing paychecks.
FNC today covered a RAT lawmaker proposing that employers pay extra for calling in part-timers with no notice, but they didn’t cover a 10K rally...
CEO has created incredible loyalty to him, maybe he and the employees will be able to buy out Market Basket.
It is purely a business dispute between two rival factions of the family that owns the stores.
The side with the 49.5% ownership had the CEO who was recently terminated. Although the supermarket was thriving and expanding, the 50.5% side of the family did not like one bit that some of the profits were going towards quarterly "incentive' bonuses for the employees and wanted those benefits cut so that they could collect a larger share of the profits.
Never seen anything like this before. Will be interesting to see how this turns out.
In the late 1980's, unions at Eastern Airlines went on strike not for higher wages or benefits but to force out their CEO. And they succeeded--the airline went out of business.
They are technically open and the employees are earning wages for their shifts, but they are standing outside the stores and urging customers to not go inside.
I wonder what shareholders are saying to the board?
You can tell when you’re in a unionized supermarket—if there are 12 checkstands, lines will be forming at the two that are open. At a non-union supermarket near my home, all of the checkstands are usually manned.
That explains the strength of the 'strike'.
It looks like a bunch of good, smart, employees.
If Arthur T. gains control, he and the employees are going to have a very solid and close relationship. The store could take over damn near everything around it!
My bet is that the two CEO’s were brought on to do a pump and dump of the chain at the request of the shareholders who want to cash out. SOP in today’s stock market.
I use MB, but this morning went to a competitor... plan to be back to MB when this settles over.
MB to me is the capitalist free-market choice. As a result, they have the lowest prices among all the competitors. I somewhat joke that EVERYTHING in MB is $1 cheaper, even if it is $1, it will be 10 cents in MB. In many instances that is the case in reality, so it really is no joke.
Employees I talk to are conservatives!
The company is family owned. If so shares aren’t available for public purchase.
Fiji Hill says:
“You can tell when you’re in a unionized supermarket—if there are 12 checkstands, lines will be forming at the two that are open. At a non-union supermarket near my home, all of the checkstands are usually manned.”
That describes the local WalMart, on any given weekday, during work-day hours, i.e., 12 checkstands and 4 manned.
As far as I’m concerned, both sides are right here.
Let the board decide what they value more, pride or prudence.
musta been one hell of a CEO...
if you’re from new England, you know that the two big supermarkets, market basket and stop and shop, are worlds apart when it comes to price. and there is one simple reason, unions. stop and shop is unionized and you have fifty year old cashiers with the same attitude you can get at the registry of motor vehicles. when you go to market basket, you get high school kids who are polite.
there are some items at stop and shop that are fifty per cent higher than the same item at market basket.
Yeah, I’m starting to piece it together.
I’m wondering about the political makeup of the warring family factions. Is it two sons who inherited the chain and their progeny battling each other?
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