Help Save Market Basket!!!

[secondcurve]

Originally Posted by Rusty

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.

Wrong again Rusty.

[Rusty]

So Arthur T goes back to work as the man in charge and he doesn't own MB.

Just because the board OK's Arthur T's bid for the company does not mean that it is a done deal. Sorry folks but I'm not falling for this at all.

The CEO and Board of Directors have only OK'd Arthur T to get the people back to work so they can start making money again.

The below statement is the only thing that has changed:

“Effective immediately, Arthur T. Demoulas is returning to Market Basket with day-to-day operational authority of the company,” Market Basket said in a statement Wednesday night. “He and his management team will return to Market Basket during the interim period while the transaction to purchase the Company is completed. The current Co-CEO’s will remain in place pending the closing, which is expected to occur in the next several months.”

[Happy Gourmand]

Originally Posted by Rusty

So Arthur T goes back to work as the man in charge and he doesn't own MB.

Just because the board OK's Arthur T's bid for the company does not mean that it is a done deal. Sorry folks but I'm not falling for this at all.

The CEO and Board of Directors have only OK'd Arthur T to get the people back to work so they can start making money again.

The below statement is the only thing that has changed:

“Effective immediately, Arthur T. Demoulas is returning to Market Basket with day-to-day operational authority of the company,” Market Basket said in a statement Wednesday night. “He and his management team will return to Market Basket during the interim period while the transaction to purchase the Company is completed. The current Co-CEO’s will remain in place pending the closing, which is expected to occur in the next several months.”

Rusty, how many more times are you going to insert your foot in your mouth? Give it up. ATD and company have prevailed. You are taking that quote out of context, an agreement has been reached to sell the 50.5% to ATD. This is confirmed by many sources, not just one.
I congratulate the management and associates for sticking their necks out for a cause they so deeply believed in. This will certainly go down in business books as more than a footnote in labor/management relations textbooks. I wish other companies would value their stakeholders over their shareholders just as ATD does. In the end, it seems like this is what separates a good company from a great one. There are very important lessons to be learned because of this, I hope other companies are paying attention.
I don't think it will take as long as most people think to get this business back to normal. Associates who put their necks on the line will now most certainly bust their @sses to right this nearly sunken ship.

[Happy Gourmand]

Here is the entire statement by ATD

"Market Basket and its shareholders are pleased to announce today that the Market Basket shareholders have entered into a binding agreement pursuant to which the Class B shareholders will acquire the 50.5 percent ownership interest of Market Basket currently owned by the Class A shareholders.

"Effective immediately, Arthur T. Demoulas is returning to Market Basket with day-to-day operations authority of the company. He and his management team will return to Market Basket during the interim period while the transaction to purchase the Company is completed. The current Co-CEO's will remain in place pending the closing, which is expected to occur in the next several months.

"All Associates are welcome back to work with the former management team to restore the Company back to normal operations.

The shareholders and the Company would like to thank the Market Basket customers and partners for their strong support through the years. Our shared goal is to return Market Basket to the supermarket that its customers have come to rely on for service, quality and best prices. We look forward to seeing you at your local Market Basket

[Rusty]

Originally Posted by The Phantom Gourmand

Rusty, how many more times are you going to insert your foot in your mouth?

I'll take my foot out of my mouth when ATD owns the company. Until then I don't trust ATD, ASD, the two Co-CEO's, or any of the share holders of MB.

I'm glad the workers are back to work, but this story is long from being over.

[codeman671]

Originally Posted by The Phantom Gourmand

Rusty, how many more times are you going to insert your foot in your mouth? Give it up. ATD and company have prevailed. You are taking that quote out of context, an agreement has been reached to sell the 50.5% to ATD. This is confirmed by many sources, not just one.
I congratulate the management and associates for sticking their necks out for a cause they so deeply believed in. This will certainly go down in business books as more than a footnote in labor/management relations textbooks. I wish other companies would value their stakeholders over their shareholders just as ATD does. In the end, it seems like this is what separates a good company from a great one. There are very important lessons to be learned because of this, I hope other companies are paying attention.
I don't think it will take as long as most people think to get this business back to normal. Associates who put their necks on the line will now most certainly bust their @sses to right this nearly sunken ship.

Hate to say it, but to some extent I agree with Rusty. It is great to hear the deal has been agreed on, but it won't close for a while and who knows that the "S" crew may try to pull in the meantime. Hopefully things will go smooth. I have a friend in store management at a local store, his hours were fine throughout but things were getting pretty sketchy.

[dave603]

Just went to one of the Nashua stores to check out how bad it is, Some empty shelves, but a lot still in there. Looks like the received hotdogs, deli and beef, no chicken yet, didn't go by the Fish.
The employees, between huge smiles and singing, yes some singing, say they expect everything in by this Saturday.
Not a mob seen, but I expected that.
It will be Saturday I'm guessing. this store is right near the Mass. line and was always crowded on holiday weekends.

Edit: I also went by the Chelmsford MA. Store going to work, lot's of activity in there for 6:15 AM

[SIKSUKR]

Drove by the the Bedford NH at noon and saw about 25 cars. Thats 20 more than everyday for the last month. Personally I'll wait till next week when the inventory has been restocked.

[Rusty]

Just listened to Arthur T's speech and not once did he say he signed anything to buy MB. He loves everybody but said nothing about the signing of a "binding contract". I guess it really doesn't matter to the crowd of Arthur T's followers so why should I care. He's back, he loves everybody so now lets get back to work.

Here is his speech: http://www.wmur.com/money/raw-video-...770312#!bLOATt

[secondcurve]

Originally Posted by The Phantom Gourmand

Rusty, how many more times are you going to insert your foot in your mouth? Give it up. ATD and company have prevailed. You are taking that quote out of context, an agreement has been reached to sell the 50.5% to ATD. This is confirmed by many sources, not just one.
I congratulate the management and associates for sticking their necks out for a cause they so deeply believed in. This will certainly go down in business books as more than a footnote in labor/management relations textbooks. I wish other companies would value their stakeholders over their shareholders just as ATD does. In the end, it seems like this is what separates a good company from a great one. There are very important lessons to be learned because of this, I hope other companies are paying attention.
I don't think it will take as long as most people think to get this business back to normal. Associates who put their necks on the line will now most certainly bust their @sses to right this nearly sunken ship.

I think you are missing the point. Arthur T doesn't value the stakeholders' interests over those of the shareholders. Rather, his approach is to treat the stakeholders (employees, customers and vendors) extermely well to maximize shareholder value. Labor, capital and customers benefit handsomely from Arthur T's approach. He has proven the pie can be expanded to benefit all stakeholders if everyone is treated with respect and honesty. Arthur S will never understand these basic concepts.