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-   -   Help Save Market Basket!!! (https://www.winnipesaukee.com/forums/showthread.php?t=17968)

jeffk 08-21-2014 08:36 PM

Quote:

Originally Posted by Scott's Yott (Post 231776)
I'm sorry but i still dont get this whole thing....If everyone stopped working because they didnt like their boss, then I dont think many people would be working. And if they walked off the job then they should all get fired.

Well, I have left several companies because I thought they took a serious wrong turn with their business strategies. As much as I could, I would voice my concerns. After it became clear no changes were coming, I left. Every one of the companies either went out of business or suffered serious business collapses.

I think it is a sign of how much MB employees were connected to the business that they would recognize a serious problem and be willing to stand up to address it.

Talking about "firing" masses of people who all walk off the job is simplistic. The business needs the experienced people as much as the people need the business for jobs. Losing a significant amount of your workforce is extremely disruptive, perhaps fatally so, to a business. To management trying to build a business it would be unthinkable. To management only interested in getting their money out of the business, maybe they just don't care.

Rusty 08-22-2014 07:13 AM

I think the employees of MB should have realized that the Demoulas family has been in some bizarre squabbles and now they created another one that is just as bizarre.

Read this about a Hotel that was built by the Demoulas family and never used: http://www.unionleader.com/article/2...WS02/140829663

http://www.unionleader.com/storyimag...=100&maxw=1000

dave603 08-22-2014 07:43 AM

Scott and Tis
 
Quote:

Originally Posted by Scott's Yott (Post 231776)
I'm sorry but i still dont get this whole thing....If everyone stopped working because they didnt like their boss, then I dont think many people would be working. And if they walked off the job then they should all get fired.

It's not so much that they don't like the boss, it's more that they are afraid the new bosses will destroy the business.

It's like what happened at Circuit City:
"In 2007, the starting wage for new employees was dropped from $8.75 an hour down to $7.40 an hour ($6.55 being the federal minimum wage at the time). In a press release on March 28, 2007, Circuit City announced that in a "wage management" decision in order to cut costs, it had laid off approximately 3400 better-paid associates and would re-staff the positions at the lower market-based salaries. Laid-off associates were provided severance and offered a chance to be re-hired after ten weeks at prevailing wages. The Washington Post reported interviews with management concerning the firings.

The Post later reported in May 2007 that the layoffs, and consequent loss of experienced sales staff, appeared to be "backfiring" and resulting in slower sales."

How many of those are still around?

http://en.wikipedia.org/wiki/Circuit_City

SIKSUKR 08-22-2014 07:49 AM

Wow,Rusty that pretty much says it all.

tis 08-22-2014 04:32 PM

Well, the wedding was today. I never saw so many limos around here at one time. It must be quite an event! MPs are on duty by their house.

topwater 08-22-2014 04:36 PM

What are the NON WORKING market basket employees doing for money? Independently wealthy? New jobs? unemployment? This is not a wise ass question, I along with a ton of other people are curious on how they are getting by.

KeepItSimple 08-22-2014 05:15 PM

security at the wedding is pretty tight. a uniformed officer stopped us on the road to our camp which is just around the bend from the wedding site and asked if we were on the confirmed guest list.

the band sounds good though. and the seaplane thats been flying people in for the past few days has been putting on quite a show for my 2 and 4 year old kids with landings and takeoffs right in front of our dock.

Greene's Basin Girl 08-23-2014 02:50 AM

WMUR said today may be the big day. Arthur T. is willing to give his relatives what they want to purchase the business. Only time will tell what the future holds.

pcmc 08-23-2014 10:25 AM

If Arthur T. is the genius businessman, and the other, the geniass of the family, I hope he can regain the trust of his employes and his customers rally back.
This whole mess is awful.

RLW 08-23-2014 06:24 PM

http://i44.tinypic.com/1499wms.gif KeepItSimple, I was just browsing through the forum and noticed that you are fairly new to posting on the forum after joining back in July 2010. We are glad that you have come aboard and joined us. Have fun and enjoy the Winni Forum while making many new friends.

Great to see ya back posting on the forum. We look forward to see a lots more of you here.:)

http://i54.tinypic.com/2e56yqf.gif

Pineedles 08-24-2014 06:47 PM

I haven't offered an opinion on this issue, yet but have been following thread as well as internet and newspaper articles. I find it amazing that any group of employees would be willing to forgo their paychecks for so long. There must be something that ATD has that appeals to these people. I am reminded of the mill in Mass that burned down and the owner kept paying his people until the business was rebuilt. Well wishes to all those that are struggling with missed paychecks.

Jeanzb1 08-24-2014 07:44 PM

Just saw online that the meeting scheduled for 10 p.m. tonight has been cancelled.

Rusty 08-24-2014 08:18 PM

But Hassan and Patrick said that they were optimistic a deal will be reached this weekend.

Why don't these two Gov's just stick to fixing some of problems that they have instead of sticking their nose into something that they appear to know nothing about.

Let the MB board members or the CEO tell us when something is going to happen.

Arthur S is on his honeymoon now and doesn't have the energy to be bothered with making a deal. Nothing can happen until Arthur S. says it can, simple as that.

AC2717 08-25-2014 08:12 AM

Quote:

Originally Posted by Rusty (Post 231959)
But Hassan and Patrick said that they were optimistic a deal will be reached this weekend.

Why don't these two Gov's just stick to fixing some of problems that they have instead of sticking their nose into something that they appear to know nothing about.

Let the MB board members or the CEO tell us when something is going to happen.

Arthur S is on his honeymoon now and doesn't have the energy to be bothered with making a deal. Nothing can happen until Arthur S. says it can, simple as that.

rumor mill is that Patrick's Wife best friend works for the lawyer representing Artie S

CateP 08-25-2014 08:46 AM

The Latest
 
12:03 AM EDT Aug 23, 2014
MANCHESTER, N.H. —A deal may be close to end a weeks-long dispute at Market Basket and restore the former CEO.

In a joint statement from New Hampshire Gov. Maggie Hassan and Massachusetts Gov. Deval Patrick, the governors said they believe a deal will be reached.

"In briefings today, all parties report that they are optimistic that an agreement will be reached to sell the company to Arthur T. Demoulas and to restore him to operating authority on an interim basis until the sale closes," the statement said.

"Subject to reducing their agreement in principle to writing by Sunday, the board will forestall taking adverse employment action against the employees who have abandoned their jobs. We are hopeful that employees will return to work, and the stores will reopen, early next week."

The statement was issued late Friday, after a source close to the Market Basket negotiations said a board meeting scheduled for Saturday was pushed back to Sunday and possibly Monday.


Read more: http://www.wmur.com/money/workers-ho...#ixzz3BPYpwfyE

jeffk 08-25-2014 09:32 AM

I guess we will see.

http://sapientsparrow.files.wordpres..._football1.jpg

SIKSUKR 08-25-2014 12:05 PM

Quote:

Originally Posted by Pineedles (Post 231953)
I am reminded of the mill in Mass that burned down and the owner kept paying his people until the business was rebuilt.

You would be refering to Aaron Feuerstein of Malden Mills (Polortec fleece).

Rusty 08-25-2014 07:14 PM

Did you hear the latest? "NOTHING"!

brk-lnt 08-25-2014 08:43 PM

Quote:

Originally Posted by CateP (Post 231976)
12:03 AM EDT Aug 23, 2014
MANCHESTER, N.H. —A deal may be close to end a weeks-long dispute at Market Basket and restore the former CEO.

In a joint statement from New Hampshire Gov. Maggie Hassan and Massachusetts Gov. Deval Patrick, the governors said they believe a deal will be reached.

Honestly, I don't think either of these two gov's have any real insight or idea as to what is going on. They're just grandstanding on this trying to get free exposure and come off as "working for the people".

ITD 08-25-2014 08:48 PM

Quote:

Originally Posted by Rusty (Post 232012)
Did you hear the latest? "NOTHING"!

It's coming, this is a $3 billion business that is being decimated because of this, if it doesn't get fixed soon it will be worth pennies on the dollar. That being said, we are talking about a $1 billion+ transaction between people who hate each other, it won't happen overnight but even the biggest of fools would not let that much wealth evaporate which is what will happen if they don't act.

That being said, I predict a deal within one to two weeks.

ITD 08-25-2014 08:51 PM

Quote:

Originally Posted by brk-lnt (Post 232015)
Honestly, I don't think either of these two gov's have any real insight or idea as to what is going on. They're just grandstanding on this trying to get free exposure and come off as "working for the people".

They do not know when they should just shut up, which is very troubling.

jeffk 08-26-2014 06:39 AM

Quote:

Originally Posted by ITD (Post 232017)
It's coming, this is a $3 billion business that is being decimated because of this, if it doesn't get fixed soon it will be worth pennies on the dollar. That being said, we are talking about a $1 billion+ transaction between people who hate each other, it won't happen overnight but even the biggest of fools would not let that much wealth evaporate which is what will happen if they don't act.

That being said, I predict a deal within one to two weeks.

What a great deal for the politicians! They express concern, attend a few meetings, and then within a relatively short period of time can take credit for "saving Market Basket", something that would probably have happened anyway. They will probably get campaign donations out of it as well.

Retired Ole Guy 08-26-2014 07:29 AM

Time to start figuring out what other Business interests the Arthur S side and his cronies have and begin boycotting them also

MAXUM 08-26-2014 08:07 AM

Quote:

Originally Posted by brk-lnt (Post 232015)
Honestly, I don't think either of these two gov's have any real insight or idea as to what is going on. They're just grandstanding on this trying to get free exposure and come off as "working for the people".

I agree - like it or not this is a private business and neither governor has any business meddling in the affairs of any company (in words or actions) regardless of whether their intentions are good or not. These two have enough problems to deal with, they are no longer interested in governing or for that matter solving any problems, instead they are opportunistic and just latch on to what is making front page news get out there in front of the cameras and babble on about things they know little about. If they had any character or integrity at all they would keep there mouths shut about this publicly. However that would require leadership, something both are severely lacking.

Rusty 08-26-2014 08:26 AM

On Aug 7th Gov. Patrick said this:
"Getting involved, I think, would mean choosing the CEO of a private company and I don’t think that’s the business of the Governor".
http://www.bizjournals.com/boston/bl...to-market.html

This is just one of the reasons why career politicians will say and do anything to get votes...and we all fall for it.

tis 08-26-2014 12:00 PM

Well, the trucks are still hauling stuff out from the wedding. I thought that might be an important piece of information. :laugh::laugh:

Ondawada 08-26-2014 12:47 PM

Where was the wedding held?

Rusty 08-26-2014 06:16 PM

How in heck are they ever going to make over a Billion dollar deal on the sale of MB when they can't even make a decision about holding a meeting:


Sources said the board planned to meet at 6 p.m., but then word came that board members couldn't agree to meet, and the meeting was postponed

Read more: http://www.wmur.com/money/market-bas...#ixzz3BXiPpQK9

secondcurve 08-26-2014 06:27 PM

Quote:

Originally Posted by Rusty (Post 232085)
How in heck are they ever going to make over a Billion dollar deal on the sale of MB when they can't even make a decision about holding a meeting:


Sources said the board planned to meet at 6 p.m., but then word came that board members couldn't agree to meet, and the meeting was postponed

Read more: http://www.wmur.com/money/market-bas...#ixzz3BXiPpQK9

Rusty:

Keep the faith. This story is about to have a happy ending.

tis 08-26-2014 06:42 PM

Quote:

Originally Posted by Ondawada (Post 232060)
Where was the wedding held?

At Arthur's house.

BroadHopper 08-27-2014 08:29 AM

Plan would close 61 out of 71 stores
 
http://www.wmur.com/money/plan-would...751068#!bK4kee

Due to Arthur S stubbornness. If Arthur T can come up with 1.5 billion, here is at chance to by the 61 stores and put Arthur S out of business.

Rusty 08-27-2014 08:50 AM

It's kinda comical the way the public was behind the employees when they first walked out. "Hang in there", "we are proud of you", this is what America is all about" Now if you read some of the comments on that News report there is a lot of employee bashing.

I predict that the employees will cave in and go back to work with Arthur S in charge. This will probably happen this week.

jeffk 08-27-2014 08:54 AM

Before everyone gets too excited, a MB with 1.5 billion in debt and interest to service will not be the same as it was. Prices will have to go up. Negative effects will happen. Building new stores may not be possible for a long time. The people that finance the 1.5 billion may have their own demands for solid investment returns, not dissimilar to what ASD was demanding.

ASD was counting on the fact that ATD would not want to let the business he has built be destroyed. He forced this confrontation and the buyout. He apparently doesn't care if 61 stores close. That's his leverage.

It is yet to be seen if MB can survive under the new conditions. ATD will be struggling for quite a while. And ASD and his supporters pocket 1.5 billion and walk away. Probably just what they wanted.

The judge that awarded ASD controlling interest should be....

dave603 08-27-2014 09:26 AM

Closing 61 of 71 stores is pretty much an idle threat from ASD.
It would cost too much to close that many stores, and make the value of the company a lot less than $1.5 billion.
At that point ATD, would change his offer amount to a minimal amount.
ASD may not care, but the rest of the BOD might care a lot.

dave603 08-27-2014 09:28 AM

Quote:

Originally Posted by Rusty (Post 232122)
It's kinda comical the way the public was behind the employees when they first walked out. "Hang in there", "we are proud of you", this is what America is all about" Now if you read some of the comments on that News report there is a lot of employee bashing.

I predict that the employees will cave in and go back to work with Arthur S in charge. This will probably happen this week.

Rusty, You have to remember the PR firm hired by ASD, has hired people to respond on social and news media sites supporting the ASD side.
Not all those people you see bashing the employees care about it and are just doing their jobs for the PR firm.

ITD 08-27-2014 05:39 PM

ASD will have to close many stores if he doesn't pull his cranium out of his posterior. There is no winning here for ASD if he does not sell.

RailroadJoe 08-27-2014 06:12 PM

With a worth of about $2 Billion I don't think he worries too much as to what happens.

Charlie T 08-27-2014 06:28 PM

Quote:

Originally Posted by dave603 (Post 232127)
Rusty, You have to remember the PR firm hired by ASD, has hired people to respond on social and news media sites supporting the ASD side.
Not all those people you see bashing the employees care about it and are just doing their jobs for the PR firm.

Sadly this is very true. PR firms in this day and age are nothing but paid professional liars. I guess that is similar to the Political position of "Press Secretary"

ITD 08-27-2014 08:42 PM

Quote:

Originally Posted by RailroadJoe (Post 232156)
With a worth of about $2 Billion I don't think he worries too much as to what happens.

I think that worth has taken a serious hit in the last month. It seems that ASD is always looking for cash so I'm guessing his burn rate is huge. This is killing the goose that lays the golden egg, I don't see this coming back anywhere close to what it was if ATD doesn't come back and I think ASD's lavish spending will take a huge hit.

HellRaZoR004 08-27-2014 09:26 PM

We shall see.
 
Report: Board Approves Market Basket Sale to Arthur T. Demoulas
The Boston Globe says the selling price is more than $1.5 billion

http://www.necn.com/news/new-england...272969871.html

If this is true I am staying far away...as it's going to be an all out nut house.


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