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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. |
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 |
Scott and Tis
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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 |
Wow,Rusty that pretty much says it all.
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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.
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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.
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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. |
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.
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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. |
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 |
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.
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Just saw online that the meeting scheduled for 10 p.m. tonight has been cancelled.
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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. |
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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 |
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Did you hear the latest? "NOTHING"!
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That being said, I predict a deal within one to two weeks. |
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Time to start figuring out what other Business interests the Arthur S side and his cronies have and begin boycotting them also
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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. |
Well, the trucks are still hauling stuff out from the wedding. I thought that might be an important piece of information. :laugh::laugh:
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Where was the wedding held?
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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 |
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Keep the faith. This story is about to have a happy ending. |
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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. |
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. |
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.... |
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. |
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Not all those people you see bashing the employees care about it and are just doing their jobs for the PR firm. |
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.
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With a worth of about $2 Billion I don't think he worries too much as to what happens.
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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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