Posted on 07/26/2014 9:51:59 AM PDT by SamAdams76
Learn to identify ironic quipping before you fly off the handle.
Let them go out of business, this ship of fools sounds like they deserve it
He was their daddy, he gave them bonuses instead of using it to expand the business. Very paternalistic apparently.
SO now they will burn it down I guess since "Bad Uncle" with more shares took control.
If you read through the article, and some of the posts here on FR you will see that they are doing this for the stated purpose, have Arthur T. reinstated as the CEO.
The reinstatement will mean that they will continue to be paid (it appears) for their worth to the company.
I saw the pic, they are sitting down, not working and still getting paid.
Their worth to the company is less than zero at this point.
The chain is never going to go national the way it was being run.
Neither of us have a lot of facts to work with, but I came to just the opposite conclusion.
I see a greedy cousin who wants to operate the company for the benefit of short term profits, Arthur T. wants it operated with an eye towards a strong employee work force.
The relationship between market employees and market shoppers is intimate: by being loyal to each other, good stores turn into great stores.
It’s great to see the people who created the greatness using the correct model - capitalism - to buy it back, instead of unionism.
True, if you have a short term view of things.
In the long term, this may be the most productive time in their work lives, and also their personal lives.
Yes, I remember the Eastern airlines debacle. Employee-management was a big reason it folded, but not the only big reason. The airline was fought over by corporate raiders who didn’t give a hoot about the company or employees, financial dealings were done very stupidly, the FAA leveled unprecedented fines for safety violations, etc etc. The employees were left standing with their teeth in their mouths, pensions were cut off as I recall.
I was in Miami just a month after Eastern closed its doors forever, attended the world’s largest garage sale, or hangar sale, picked up some wonderful sturdy airline china and linens…but it was a very sad event.
I’d flown Eastern to Puerto Rico just a year earlier and had a blast, a memory I’ve cherished all these years.
Anyway, I hope these rival supermarket factions can come to terms. The employees seem very dedicated, and why shouldn’t they make a living at their work?
Only problem with your theory is that they are non-union. Now how do you explain that?
No share holders, it is 100% family owned.
Usagi, you may not know who Wintertime is, it's reasonable to assume that that was not irony.
They need to get their act cleaned up then. Paying employees to do nothing and shelves being empty is a good sign that this company should probably go out of business.
http://www.wbur.org/2014/07/25/market-basket-final-rally
Market Basket Board Will ‘Seriously Consider’ Ex-CEO Proposal To Buy Chain
Arthur T. Demoulas was fired last month by a board controlled by his cousin, Arthur S. Demoulas. Both are grandsons of the company’s founder and have feuded for decades.
The board said it will evaluate Arthur T’s offer, as well as prior offers and future offers.
Arthur T. offered to buy the 50.5 percent of the company now controlled by relatives who backed his firing last month.
“Our offer is a very full and fair one and should meet or exceed a seller’s expectations of the value of the company,” Arthur T. said in a statement Wednesday. “We care deeply about Market Basket and all of our associates and we want to work together to return the company to its successful model for serving our loyal customers.”
If they are getting paid and not working, they might as well be union.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.