So they cancelled big Market Basket board meeting tonight that was suppose to finalize Artie T.’s self-endorsed offer which includes a new $500 million dollar loan from something that sounds like a venture capital fund, first time mortgages on the real estate holdings, and dipping into to personal bank accounts and collateral of his and his sisters.
The parties were still at odds over several terms of Arthur T. Demoulas’s $1.5 billion offer to buy the 50.5 percent of the company owned by his cousin, Arthur S. Demoulas, and other family members, according to people familiar with the talks.
Question: If Artie really was borrowing half a billion from a private equity fund and getting banks, his sisters, and he to write checks totaling another billion, all of which will be handed over to Arthur S.’s’side, what details could there be?
Wait a minute. You don’t suppose the honorable Artie T. is up to his old tricks again, do you? Nah, Artie’s not like that anymore. He’s on the level and there’s no reason for Arthur S. to be so thorough.
Hasn’t the board heard the convincing rhetoric of the many middle-aged shaved head employees talking to the press like they’re Caesar Chavez sticking up for farm workers?
Look at these guys. Talk about charisma.
Watch as Artie T. now starts yelling that the Arthur S. side are obstructionists who have no legitimate reasons to question the details of his “last best offer”.
—
The F.B.I. is poking around Everett asking pointed questions about the casino and what’s in it for everyone. Another reason perhaps The Gaming Commission wants to act ASAP in issuing the Boston license. Better to have the license in Wynn’s hands if and when indictments come.
I know, you’re probably expecting me to say something about today’s front page story in the Globe on Everett Mayor Carlo DeMaria thinking he’s Foghorn Leghorn and Everett City Hall and Honey Dew Donuts are his personal chicken coops.
Too easy.
Hey, I’ve been warning you guys about Everett for years. For years.
It has the only bi-cameral local government in the entire country. There is a common council and a board of alderman. Add in the school committee and you have close to 40 elected officials many of whom are running around thinking they’re in the Court of King James while belonging in the court of felony crimes.
I don’t trust their football and basketball teams either.
—
jconway says
I am hopeful that the Arthur T situation gets resolved in his favor, for the workers not for him, but kudos to talking about how shady Everett and it’s casino deal is. The bi-cameral legislative model must be a holdover-Cambridge had that at the turn of the century but we got rid of it.
Also their football team was known to poach players of ours back when we had the Thanksgiving rivalry. One of our starting wide receivers moved in with some “relatives” our junior year and started playing for them, the idea was, he would look better for recruiters if he was part of a winning program and their coaches actively lobbied him to move in with his “cousins”. So, not surprised they are a little shady.
justice4all22 says
Re Everett – that’s old news about the bicameral legislature – the voters voted it out in 2011, going into effect at the beginning of this year. http://www.boston.com/news/local/massachusetts/articles/2011/12/08/everetts_bicameral_government_will_become_historical_footnote_in_2014/
Re Market Basket. Here’s the thing – as much as you beat the drum for Artie S….the thing I don’t get is how he knew for an entire year that he was taking over the company and this is the best he can do? Two CEOs? Seriously – who does that? It made them both look weak and ineffective. Not to mention that with an entire year to plan – no one thought to talk to the workers? Wow. And they had no intelligence on how this was all going to go down….or didn’t it matter, because they weren’t in it for the long haul anyway? And….I am not cool at the shot at the workers, because you know what – they’re doing it right. Protest is a time honored means to get your voice heard, and they weren’t going to be heard over the sound of a billionaires’ food fight. Good for them – I was proud of the way they kept it together all these weeks. Anyway, I hope you had a good time at the wedding, Eb3. I am sure it was lovely.