What happened when Arthur T. Demoulas told a guy who owed him millions he’d forgive the debt if he would perjure himself in court and lie about Arthur S. Demoulas?
Well the guy had integrity and said no. Artie T. and his dad couldn’t believe it. They only wanted the guy to lie and say Arthur S. paid him to plant listening devices inside Artie T.’s office. Alleging this would have helped in their unsuccessful fight to keep ripping off Arthur S. et al.
Of course this resulted in another Demoulas lawsuit that went to the SJC. This time it ordered Artie T.’s side to pay punitive damages which is the legal way of saying they were complete dicks.
The judge found that Demoulas; his son, Arthur T. Demoulas; and Kettenbach encouraged such testimony in reckless disregard of the truth.
Then there’s the time Artie T. was doing some self-dealing and violating his fiduciary duties by investing in a water bottling company for a close friend and the close friend’s close friend. Artie T. made all sorts of promises of what Market Basket would do.Then he didn’t come through but was able to swindle the quarter interest of the close friend of the close friend through deceit.
And right now Hannaford’s parent company is negotiating a deal to buy Arthur S.’s’ family’s shares and let Artie T. run the place.
Unfortunately they are a real business and want real business guarantees including oversight of the top executives. Why would anyone want to invest two billion dollars with Artie T.’s’ word as collateral?
Anyone who believes Artie T. is a good guy is kidding themselves.
Christopher says
DFTT
kirth says
*
ryepower12 says
Until Arthur T and his side owns 100% of Market Basket. I’m going to shop there just for you, Ernie, even if I’m more of a S&S kind of guy.
eb3-fka-ernie-boch-iii says
They will be partners with Hannafords at best
ryepower12 says
Seems to think there will be a deal within a week. Principal issues (ie $) already settled.
Not one has there been a report that Hanniford’s was a higher bidder – and even in a family with this much animosity, money may rule supreme.
eb3-fka-ernie-boch-iii says
He doesn’t have that kind of cash. Reports are that financing terms are hanging this up and Hannafords is part of the talks
ryepower12 says
It’s a hugely profitable chain with no lack of collateral. Financing a deal will not be anywhere near as difficult as you seem to think.
That said, the reports thus far indicate the ASD side will take payments for the company over a number of years… so finding financing may not even be necessary.
The squabbling may be over how many years those payments are spread — or, for all we know, who gets to own the family golf course. These guys are weird, Ernie. Who knows what’s holding this up? But all reports indicate it’s not money and it’s not finding a bank to finance the thing.
jconway says
Ernie shouldn’t have to let pesky facts get in the way of his pre determined narrative. That just wouldn’t be fair, would it?
eb3-fka-ernie-boch-iii says
Under your theory anyone can buy it as long as Arthur S’s side takes a note from Artie T. using the shares they sold to him as collateral.
Ahh, yeah. I hate to tell you this my friend but it doesn’t work that way.
You weren’t a business major were you Ryan?
ryepower12 says
doesn’t matter, because that’s been a big part of the discussion.
So, Ernie…. were you a business major? I mean, you’re the expert here, right?
/laughshysterically
Peter Porcupine says
…who says they have to keep ATD?
Even with an employment contact, they can keep him an isolated office away from the chain of command. That’s what I would do.
And the chances of catching lightening in a bottle and strting another walkout are pretty much nil.