I also heard he is getting married in August.

Starting Sunday all part-timers won't be scheduled to work.....this news hits the lakes region (and elsewhere) pretty hard.

"A supermarket company has emerged as a serious bidder for the Market Basket chain, complicating Arthur T. Demoulas’s effort to buy out rival family members and take complete control of the grocery empire, according to people briefed on the negotiations.

The Belgium-based parent of Hannaford Bros. Co. is offering to buy part or all of Market Basket, which competes with it in markets throughout New England, said these people, who were not authorized to speak publicly on the matter. A spokesman for Hannaford could not be reached for comment Thursday."

LINK

I got to chime in here. I watched the news at noon today and it was reporting the inevitable layoffs. A couple of employees interviewed were "shocked" that people would be layed off. What? 90% loss in sales and MB should still have the same amount of help? One said "I can't believe they would do this to us". Huh? I understand the cause but seriously, you've done it to yourselves, period. The message has been sent. I think its time to move along until actual cuts that have been theorized really happen.

It's getting real
 

This is where it starts to get ugly, where some will start to break ranks and hard feelings replace the euphoria and camaraderie that has so far prevailed. And no matter what happens from here, it will get worse before it gets better.
Now is the time that they will need to come together in solidarity, and now and going forward is when they will need the most support.
I wish them well. They are standing for something they truly believe in.

Such a mess...
I am sure that Delhaize and probably others (Aldi, etc.) may have an interest in acquiring it, but the family situation is pretty messy & complicated.
Just because 'S' has control, does not mean that he can force a sale of the portion owned by the 'T' faction.
Also, there is the complicated web of ownership of the real estate and improvements, etc.
The first major part of the drama went on for years and cost many millions in MA courts.
Wonder if the Market Basket employee/picketers will crash the wedding this summer?

I think this will go on for another couple of weeks. It really doesn't matter what the CEOs do if the customers stay away. MB is a $3 billion per year enterprise that has had no revenue for weeks now. Sounds like they have distributed most of the their cash to the stock holders. They need to fix this quickly or shutdown, I don't see any other options for them. If they wait too long they may not be able to start it back up. It certainly is interesting.

If you have control of a company's stock you can execute a sale of ALL of a company's stock. A minority shareholder can sue on the basis of the sale price being inadequate, etc. but he/she can't stop a sale.

Corporate Welfare More than Double Personal Welfare
 

To Seaplane Pilot


http://benswann.com/corporate-welfar...ocial-welfare/


Corporate welfare is double personal welfare programs. So corporate greed is our problem. Let them pay their fair share.

All interested in how companies become great ones should read the book:

GOOD TO GREAT
By Jim Collins.


Market Basket is a tragedy.

The formula used to make this grocery chain so successful is gone.

These grocery stores were a tightly woven business. It's all unraveled now.
It will never be the same.

Hannafords and Shaws will be quite happy with the demise of this chain.

I love that statement, let them pay their "fair share". Beautiful! Then don't you dare complain when that "fair share" is passed onto consumers in higher prices because it will.

Ya know people accused Hostess of "corporate greed" when they refused to make a deal with the unions because the unions were simply asking for more than the company could possibly hand out in benefits and wages and still maintain a viable company. In the end, union greed and employee greed put them out of business. It's that a wonderful story? Yes we need more of that please.

Finally "corporate welfare" as you call it is typically tax incentives, so a company pays less taxes on what it makes or gets a low interest loan to do something productive with it which I might add usually includes hiring people. I know a terrible idea isn't it! Should I also remind you that the US has the HIGHEST corporate income tax on the planet?!? Personal welfare, yeah great idea throw money at a problem that will never be solved, in fact it makes it worse.

Oh and you may want to look at more recent stats because that article that the link pointed to was a bit outdated sighting figures from 2006. Welfare spending is way up and isn't it ironic so are the number of people on the dole.

The time is long overdue for Artie T. to step up to the microphones and cameras to rally his employees. He needs to come out of the darkness and shed light on this entire situation as it stands. He owes it to all the employees who have given so much support, as well as the loyal customers. Please Artie, let us hear from you directly, not through a spokesperson !!!

"Nearly 400 workers at the Market Basket in Nashua were given the discouraging news, and many broke down in tears."

"Employees said they desperately need those hours."

"I started to cry," Hujsak said. "It's income. We have families. It shouldn't have come to this."


DUH!!!!

http://www.wmur.com/money/other-supe...350086#!byl1BJ

Arthur S getting married
 

I heard that Arthur S is getting married this weekend up here at the lake.

Jetskier:cool:

Enough is enough !

A pox on all of you - shareholders, directors, management, and yes, employees. You have all combined to destroy what was a great company. As much as I dislike Shaws' prices and Hannafords' selection, I am through with MB.

You need to find another mantra - nobody is buying this one. as Maxum said, corporations pay taxes. Social welfare recipients and illegal aliens pay little to no taxes.so who is paying for their entitlement programs?

WoW, You mean the Delhaize co? why would a company who owns 1100 stores on the eastern seaboard be interested in a **** little chain like this that is having so much trouble. It would seem that they would want to sit back and just enjoy the extra business while they have it, and leave this for someone else. Or, they have no intention to buy in, they just want to cause more confusion and give the BOD more **** to haggle over. I read that there is actually as many as ten offers on the table right now. So the BOD is fighting over who will run the company after all. Looks like the honeymoon might be starting and ending at the same time! If you didn't see this one coming you were too wrapped up in all the drama. They need to cut a deal soon before the value goes any lower. The buzzards aren't circling anymore, now they are fighting over it!

Thank you for bringing back the original poster's topic of Market Basket.
Tired of reading from the same folks about corporate welfare, people welfare, immigrants, food stamps, unions, and the rest of the tangent opinions.

Market Basket still has a valued brand name. Although some folks here may not think so. But others not following the news may think that it does.
Then there is the real estate. Yes, the real estate may be in other entities but probably will go with any sale.
This chain can be profitable either with new management, sale of the name, sale of the properties and all sorts of financial maneuvers.
Edward Lambert purchased Kmart and then later Sears. Whether you think Kmart or Sears is worth anything or not - just note that Lamberts annual income in 2012 was reported to be $1 billion dollars.
Erivan Haub purchased the A&P chain and walked away with $ 200 million dollars by raiding the companies pension fund.
Cerretani's small grocery chain - another family owned stores - were sold and the new owners appear to be quite happy.

So there may be quite a value buried in this grocery store controversy.

Interesting to see the denial of how corporate greed is ruining and not building our country. The great robbery of 2008 and how many on Wall Street are in jail?

You blame corporate troubles when they exist on workers demanding good wages and benefits. Simple math-good paying jobs fuel the economy; low paying jobs equal the need for more welfare. You can't have your cake and eat it too. I'd rather see a working parent earning a living wage than getting welfare and usually so would they.

I love how people here say let's stop talking about a subject AFTER they post a diatribe.

This thread was about Market Basket. I support MB boycott, bringing back Artie T and I commend the workers for the stand they are taking.


And I am damn glad I have a good union job that has allowed me the opportunity to buy a boat and property on the lake and enjoy this slice of heaven. In Solidarity!

If there are in fact 10 bidders for MB, my guess is the value of the franchise has been barely dinged. No vultures in this scenario other than Arthur S.

So let me get this straight... it's evil for a company to pay the least amount necessary to hire employees, yet it's not evil for employees to demand the most they can get for a wage? Huh, OK with that in mind, when you need to hire somebody to do work for you... two contractors quote you a price for the job. Both using the same materials but one is more expensive than the other, and both have the same reputation and do the same quality of work. So you'd hire the most expensive one right? LOL I'm sure you would!

Wages are paid at a market rate, no more no less. Benefits are a matter of how willing AND able a company is to pay out in order to attract the best employees possible.

I'm damn glad I have the same as you do, but it doesn't necessarily take a union job to get it. It takes hard work!

Are you saying that if you are union you don't work hard to get what we have?

No that isn't what he said, but this sidetrack should end here.......

Agreed! That whole rant has nothing to do with the MB debacle.

I wonder if ASD's supposed wedding this weekend is going to get crashed? My guess is no considering the employees have been pretty civil so far.

In March 2006 he was listed at $1.6 Billion in top richest in the Boston area.. Must be quite a wedding. Wish I was invited.

A Case Study of MB
 

This article is very good and hits some very good and valid points about this whole situation:
Market Basket: A business case study for decades

What your business can learn from Market Basket’s mistakes

http://www.nhbr.com/August-8-2014/Ma...sbrowser140808

Interesting article...but anyone can be an expert after the fact. Is the suggestion being made that any decision should be approached with the PR aspects in mind?

I think the lesson is that actions have consequences and the important ones often turn out to be the unintended consequences.

What I know about the whole situation is what I've read in a Boston Globe blog. My understanding is that the lost business has driven the value down and that is what has motivated possible buyers to want in. Because nobody is "available for comment" there is a lot of rumor and speculation around the whole story. The buzzard analogy was only because it has taken some time for interested buyers to belly up. The experts who are writing about this are not calling it a ding, more of a big dent. That might be a guess too, but it does make sense to me. Either way, what it most notable to me is how much has not been said by the BOD to the public, it fuels speculation. and rumor.

I have a feeling his net worth has taken a serious downturn due to his actions over the last few months......

Board Proposes Deal To End Market Basket Battle And Return Artie T. To Company

http://boston.cbslocal.com/2014/08/0...-t-to-company/

Interesting to note - not as CEO. Just as management to stabilize the company. I doubt he'll agree.

Sorry you have such arrogance in expressing your view. I support workers whether union or non-union----but am proud we fight to help all achieve a better life and yes by working hard but not as slave labor .

That's a blink, it will be an interesting week I think....

Slave labor? Now that's comical....maybe you need to go over to China and see how workers are treated there and for that matter how much they are paid.

Arrogant, no but apparently the question I posed to you didn't receive an answer but we all know what the answer is anyways. However according to your way of thinking - if you don't hire the more expensive contractor you'd be guilty of "corporate greed". Wagging my finger at you! How could you possibly deny the more expensive contractor a living wage?

Or you can look at it from my perspective, one is overbidding the job and why pay more to get the same work done? I'd rather pay the cheaper market rate. So according to you, I guess I do favor slave labor so shame on me. If you say so, but I won't loose any sleep at night saving a buck or two.

Doubtful it will be much of a shindig. Rumor has it that he can count his friends on one hand.

I have a theory...probably a far out one, but who knows.

No business owner in their right mind would allow this to happen or go on as it has... So I think the Demoulas family planned this whole thing out together so that they could get someone to buy them out real quick and they can make Billions off the sale. They started the bidding process with a high number in hopes that someone would bid higher.

This would be a prime opportunity for Hanafords parent company to get rid of their biggest competition.

The employees fell for all of this and now they will suffer the consequences.

Rusty, are you smoking the weed or what?

This below sign is posted at a Hannaford store. It also should have had a statement that said: You will be working for us soon anyway.


http://www.wmur.com/image/view/-/273...-hannaford.jpg

While I understand what you are saying, this planning would inply lots of forethought, which that side of the family hasn't displayed at this point. If they win out with lots of $$, its more likely luck/circumstances than any level of high mental activity