The Board of Market Basket is meeting tomorrow morning (Friday, July 25th). MB workers plan a massive (and “final” (their word) rally to coincide with the meeting. So BMG, what will the Market Basket Board do? Reinstate Arthur T? Stand by their earlier decision? Fire more workers? Nothing at all?
What say you?
Please share widely!
Jasiu says
… Arthur T. says he’s made an offer to buy out the rest of the family.
Christopher says
From whom would he buy it? I thought his family owned it already.
Christopher says
He wants to buy the shares he does not already own from other family members – is that correct?
ryepower12 says
His side of the family (not just him personally) wants to buy the shares of the other side of the family.
rickterp says
The Globe had a very good infographic that laid out the history of the conflict. Basically, the company was split between the two sons of the founder and the descendants of those two brothers have been fighting for control of the company since the 1970s. Arthur S. (of the George Demoulas branch of the family) and Arthur T. (of the Telemachus Demoulas branch) are the current leaders of those two family factions. Arthur T. is offering to buy out the Arthur S. family members, who currently control 51% of the company.
Trickle up says
My cynical guess is that the board rejects Arthur T’s offer and things just spiral down.
Fueled by a blinding combination of family animosity and greed, the ruling faction sells off the markets bit by bit, realizing less than Arthur T’s offer as the actual value of the chain implodes.
The consultants brought in to advise the sell-off do well.
Prove me wrong and I will not complain.
Patrick says
It’s signaling that they aren’t going to continue their protest regardless of the outcome. I’m predicting the board says, “Back to work!”
ryepower12 says
They’re signaling that the next step is a general strike.
SomervilleTom says
The buy-out offer is just another entree thrown in the on-going family food fight. It won’t help the workers if successful, and I think it’s unlikely to succeed. It’s still two rich white men arguing about who will get even richer, and the workers are just pawns (or red-shirts).
The workers should organize.
ryepower12 says
the offer not help the workers if it was successful? It would completely resolve the current situation, workers would be happily back to work and there would be a lot of Market Basket shoppers very, very happy to be back in the stores.
You may think the workers are pawns, but they obviously disagree. They want the store in the hands of someone they know is good for them and who wants to invest in the future of Market Basket, instead of selling it off or going public.
I completely agree their workers should unionize, and after flexing their muscles like they have this past week or so, that seems a lot likelier to happen now than it did before.
SomervilleTom says
If the buyout happens, the workers will happily return to jobs where they are paid less than their counterparts working in other stores, where they are still subject to being fired, demoted, or otherwise punished at the whim of a single individual, and where they are completely at the mercy of the perceived self-interest of the owner.
There is very little evidence that Arthur T cares any more about the good of the workers (beyond their role in sustaining his personal lifestyle and vision) than Arthur S. I strongly suspect that Arthur T is and will be just as receptive to outside offers as Arthur S — and may even be negotiating such a deal as part of his offer.
In any case, it sounds like we agree that unionization will benefit the workers whatever happens here. I suspect that that process will be easier and faster now rather than after an Arther T. takeover.
Christopher says
…that contradicts how Arthur T. has acted so far, even though he asked for hard evidence when I hypothesized on another thread about how Charlie Baker would govern. They should organize, but when we for once have a boss acting in a way that earns him workers support he should be praised, which incidently reminds me a lot of the candidate I’m supporting for Governor.
SomervilleTom says
Remember I was a DeMoulas/Market Basket customer when this fracas began. Arthur T was no angel.
Christopher says
…but he has done right by his employees so far and they seem confident he would continue.
ChrisinNorthAndover says
will reject Arthur T’s buyout offer and almost certainly not reinstate him. The workers should organize but regardless of whether or not they do I think within a couple of years Market Basket will probably be sold.
centralmassdad says
There will be acrimonious litigation.
Patrick says
Things really get interesting with Market Basket and everyone commenting on it stopped.
Am I wrong in thinking the employees failed in their objective? Do they go back to work now? Would they have been in a stronger position had they been in a union? What’s the best case scenario for them now? Worst case?
Al says
but their stubborn intransigence has caused the value of the company to take a nosedive. As far as I can see, the Arthur S cabal has cost itself a couple of billion dollars in lost value. They have damaged goods to offer for sale and an employee roster who hates them and might not work for them. Now, any potential buyer has to consider if they can resurrect the company, assuming they want to continue to operate it as an independent concern. Also, they have to wonder if the employees, especially those upper levels with the institutional memory and experience to run it successfully will be on board with new ownership. This has cost the workers, especially the younger ones with limited seniority, money they may never recover. Their only hope is that T can buy out his cousin at a price he can live with which won’t saddle him with an onerous debt to pay for. Otherwise, they could end up with the boss they like, but one who can’t afford to run the company like he had.
Patrick says
I’m seeing similarities to the government shutdown.
Isn’t that like the GOP saying things were all the fault of Obama’s stubborn intransigence?