UPDATE INCLUDING A LINK TO A PETITION. Things are getting dire at Market Basket

[graywarrior]

Last edited Thu Aug 7, 2014, 11:21 AM - Edit history (1)

To be perfectly clear once again, associates and customers are NOT coming back to Market Basket unless ATD is back in full control with full authority.
We are sick and tired of these planted stories about yet another bidder etc...have you not been listening. Fotene, Dianna and Rafaela YOU can end this nonsense once and for all.
To any potential buyers other than ATD, you better look at the complete wreck of a business you are buying and you had also better know that the ONLY CEO that can get this fixed and get associates and customers back is ATD. Delhaize(hannaford), Cerberus(shaws) and Ahold(stop & shop) you have been put on notice.
If you buy this shell of a once great business then that is what you will end up with, a shell of a once great business. There is only one option for the shareholders sell to ATD and stop this nonsense of saying there are other bidders.
If you want to sign a petition to have the board investigated for fiduciary malfeasance, here is the link:
https://petitions.whitehouse.gov/petition/direct-sec-investigate-directors-demoulas-super-markets-inc/FJg79YrH
Direct the SEC to investigate the directors of Demoulas Super Markets Inc. | We the People: Your...
petitions.whitehouse.gov
Investigate whether the independent directors of Demoulas Market Basket are real...




From Save Market Basket

Directive from Felicia to Store Directors: "As we are all aware our store sales volumes are substantially reduced from standard levels. As has always been our practice, your role as store director requires you to manage payroll as one of your many responsibilities. This means you need to schedule staff levels necessary to serve your current customer base and maintain store conditions."

The CEO is clear in her words and as always, the stores are following direction well and today we are learning what this means. We have heard from several sources that with sales down 90%, no part time help will be scheduled for next week. We strongly encourage all who may be affected by this to contact their state's unemployment agencies and Attorneys General offices.

This is all happening while there is a job fair underway where the company is looking to hire new people for jobs that are currently filled and for positions which are about to be cut from the schedule. While we can't imagine why anyone would want to join this train wreck, the bigger question is why has the Board of Directors not accepted ATD's offer to return so that the company can be stabilized? Schedules are being cut, workers are in full protest, customers are in full boycott, the warehouses are a mess and a job fair is being run. Why are they still in charge? Why has the Board reaffirmed their commitment to them?

The BOD has a fiduciary responsibility to the health of the company. The company is sick and near death. A remedy came to them that would cure things and they turned it away. This is gross negligence of the highest order. If layoffs happen and the state offices get flooded with newly unemployed people, it is simply because the BOD decided to keep things on the path to ruin.

Not one person has an ounce of confidence in F&G's ability to right things or in the BOD's ability to govern things. The solution to saving thousands of jobs was there for the taking but now those jobs are in peril of being eliminated because of their inaction.

[MADem]

1. Sounds like a shitload of wrongful termination suits waiting to happen...

I need to go paste my "other supermart" receipts on their door...!!!!

[Ineeda]

8. Statutes governing Boards of Directors

I can't speak to Mass. law, but here in Florida (yeah, yeah, I know) the statutes are clear.
General Standards for Directors
Basic Fiduciary Duties
Under Florida law, directors oversee the management of the business and affairs of the corporation, and their actions are governed by a mixture of statutory and common law principles. The directors owe a fiduciary duty to the corporation and its shareholders, which is generally expressed in terms of good faith, the duty of care, and the duty of loyalty. The directors’ fiduciary duty has been codified in F.S. §607.0830:

A director shall discharge his or her duties as a director, including his or her duties as a member of a committee: (a) in good faith; (b) with the care an ordinarily prudent person in a like position would exercise under similar circumstances; and (c) in a manner he or she reasonably believes to be in the best interests of the corporation.

Also: The Florida Business Corporation Act, F.S. §607.0830, authorizes directors to consider the interests of employees, suppliers, and customers and the communities in which the company operates when making business decisions.

In this case, the best interest of the corporation is also the best interest of the protesters/boycotters/employees/community.

So yes, lawsuits.

[MADem]

11. The AG here has already cautioned the board WRT their termination practices, it looks like

they're determined to cut off their noses AND gouge their eyes out. The Stupid is strong with that bunch.

The workers are not backing down. They'll win, and if they don't, they'll take the company down and who knows, maybe they'll go work at Aldi's, which is making forays into the region!

Most people I know who shop there regularly are ON STRIKE too--and they can't fire us customers, because we QUIT until they restore the workers and meet their demands.

[dembotoz]

2. sounds like the little kid who would hold their breath till they turned blue

almost looks like the company is willing to commit suicide.

happy i do not work there or depend on it for my groceries

the competition must be dancing in the streets

[seaglass]

4. Yes, I think this is so personal that common sense is not being used. This is the way it has been

with this family for the last 30 years and why I support the employees but not the owners.

I don't shop there - haven't in 20 years because of consistent quality issues I experienced. Their competitors are getting hammered (and raking in the dough). The Super Stop and Shop I frequent is directly across the street from MB and the parking lot which is never more than 1/4 full (one of the reasons I go there) has been packed for the last 2 weeks.

The Stop & Shop is hiring but I have no idea who would apply because as soon as MB resolves it seems there would be little need for the additional employees.

This is a freaking mess. I feel bad for the employees and the customers of MB, along with MB vendors and all who are being impacted by those stubborn MB shits.

[Lee-Lee]

7. A lot of those people will never go back

People often shop at certain places out of habit as much as anything, getting them in the door a few times is enough to change habits.

No doubt Market Basket has lost at least some of it's market share long tern no matter what they do.

[Eleanors38]

9. Good point. Surprised the Koch-heads haven't pumped in cash...

...to prop up the current regime and to keep workers in their place.

[HomerRamone]

17. How do we know they haven't? nt

[MADem]

13. If the workers' demands are met, I'll go back IN A HEARTBEAT. MB is a FANTASTIC place to shop.

They accommodate all ethnicities and regional tastes in their grocery selections, their store brand stuff is better than national brands, their prices cannot be beat, their staff is great, they have the best damn deli going and their bakery is beyond compare. With us, it's not "habit" - it's so much more "bang for your buck" that there's no comparison.

[seaglass]

25. I agree to some extent but it has been difficult for the stores who have taken on the surplus of

customers and I'm not sure how much they've been able to put their best foot forward. Even though every time I've gone in all cashier positions are filled, there are still lines at every position. The store is crowded and they are running out of items where there is normally a surplus.

I would guess they may have lost some market share but probably not a whole lot if they are able to end this thing soon.

[n2doc]

3. I am sure they would rather go bankrupt than "lose"

Typical macho crap from entitled rich idiots.

One can hope that they do go under, and ATD can swoop in and take over and replace the lot of them. Probably a long shot.

[ohnoyoudidnt]

34. I was about to type something similar.

I don't know much about bankruptcy and corporate law, but if the company continues like this it will go bankrupt. it would be nice If ADT and former employees could pull together and buy the remains. ( I think a third party takes control to sell whatever assets to cover whatever debts) and ADT trying to revive the business would be the best bet.

[DeSwiss]

5. The problem here is that they think they're indispensable.

- Plus you have the family angle working inside all time as well. But there are other ways to stock a grocery shelf. And just the whiff of it being considered could start a commotion....

K&R

http://wincofoods.com/about/an-employee-owned-company/

http://newsok.com/homeland-united-to-become-employee-owned/article/3635664

http://www.nceo.org/articles/employee-ownership-100

http://www.guymondailyherald.com/content/united-now-employee-owned

http://community-wealth.org/_pdfs/articles-publications/coops/article-logue.pdf

[PotatoChip]

23. +1. You beat me to it.

I was going to suggest the same thing.

In any case, here is one more link to add to yours:
http://bangordailynews.com/2014/06/18/business/stonington-employees-buy-3-stores-creating-largest-worker-co-op-in-maine/?ref=mostReadBoxNews

[DeSwiss]

24. Thanks!

[PotatoChip]

26. You are welcome.

[SiobhanClancy]

6. Rumors abound...

I read that part-timers are now laid off,which appears to be true...and that Hannaford(Delhaize)is,according to the Globe,making a bid to buy MB. The only way that makes any sense to me is if they intend to make Artie T. CEO and let him run it. I also wonder about what would be involved in selling shares in a closely held family company to an outsider.

[Sherman A1]

10. Has Artie said anything about the

employees that are on strike or refusing to work and their fates? It seems they are supporting him (and indirectly of course themselves) yet I have not run across a statement from him.

[graywarrior]

14. Not a word

Everyone is asking the same question. It's unlike him, so there must be legal ramifications if he comes forward with any statement. Probably needs to watch what he says. It's disheartening.

[hifiguy]

12. Doubtless this "superior executive talent"

will get their mega-wages and nice fat bonuses even as they kill the enterprise.

Only the little people feel the financial consequences when greed and oligarchy rule the roost.

[graywarrior]

15. Just drove by a Market Basket

Workers still standing outside with signs but looking depressed. Lots of anger in the air from everyone....workers, customers.

[senseandsensibility]

21. Sorry to hear this

But of course I don't blame them. The situation is disheartening, and they have already sacrificed a lot.

[valerief]

16. If they (other supermarkets) buy the biz, won't they keep the current ex-MB shoppers and isn't that

what they want?

Don't get me wrong. I want MB to return. I shopped there half the time and the other half at Hannaford's. I liked alternating between the two.

[Agschmid]

18. Big kick!

[tea and oranges]

19. Kick! Thnx for update graywarrior!

[passiveporcupine]

20. We had a local store that was having problems

and the employees ended up buying the store. They owned it for about two years, I think, and then sold it to a chain. It's been improved to be the nicest store in town (the only other grocery store is a Safeway), and they really expanded their health food department, which was a good move for this town. I wouldn't shop anywhere else.

The point is, if they won't sell to Artie T, I wonder if they would sell to the employees? When the town found out the employees owned the store, a lot more people started shopping there. We were all really excited about supporting that.

[graywarrior]

22. I wondered that same thing, passiveporcupine

I don't know if they are ready for that. I think they need legal advice. It's too bad they turned down help from the Teamsters.

[Turn CO Blue]

27. Sounds like a HUGE rally/protest needs to happen outside the various AG's offices.

If they are made more URGENTLY aware that a lot of wrongful termination suits and unemployment claims are coming like an avalanche, they will look further into the recent practices.

It's too easy for them to be relaxed in a bubble getting info from the media, the BOD, hearsay -

not so easy to stay in the bubble with 1000 employees and customers telling the other side of the story outside your building.

[graywarrior]

29. They just had a massive rally Tuesday

They need legal advice. A bunch of part timers just got laid off today.

[sketchy]

28. K&R n/t

[sketchy]

30. Petition signers now number 3,015! n/t

[canoeist52]

31. Press release from Governor Maggie Hassan of NH, or what Ma Governor Deval Patrick should have said.

Rather disappointed at the governor I voted for's response.

“It's a private company, a private dispute in a private family,” “I obviously, I think like everybody, want economic peace and I want the workers to be treated justly, but the centerpiece of the dispute is who they want their boss to be. And that's not something governors normally get involved in.” -Governor Patrick

[graywarrior]

33. Same here. He could at least give some words of support.

[sunnystarr]

38. Maggie Hassan is femaie by all accounts ... (nt)

[sunnystarr]

37. You're attributing the quote incorrectly

The governor is Maggie Hassan not Governor Patrick.

[canoeist52]

40. The press release is Gov. Hassan's. The quote below it is Gov. Patrick's.

[canoeist52]

32. One of the corps. on the list of buyers. Deep reading what the investment company has bought.

Like a Giant Squid;
http://en.wikipedia.org/wiki/Cerberus_Capital_Management

[freshwest]

42. Oh, goodie. Real rulers of the universe stuff. This is beyond bad.

[graywarrior]

35. More from Save Mkt Basket

Not Laid Off, but Not Scheduled.
F&G have issued a statement which informs the public that they have directed stores to inform workers that they are not laid off. They also have required store Directors to schedule people according to their current store volume.
So in essence they want to hold our part time associates hostage. They want to let them know that they are not able to be scheduled for work next week but they also will not be laid off where they then could collect unemployment. So, if you are a victim of schedule cuts, you won't be allowed to get money from any source.
You are still "employed" because F&G don't want you reporting to the AGs office. They don't want that headache. F&G care more about covering their behinds than they care about the well being of the people whose real lives are involved.
Their directive is shameful.

[steve2470]

36. keep up the good work, graywarrior ! nt

[sketchy]

39. Thank you for your reporting on this!

[graywarrior]

41. Post by one of the store managers tonight re: part timer lay offs

My heart goes out to the 20000 employees tonight at market basket. But the 320 that I have in my home store I have no words tonight. I'm so disgusted with the bod and hooch and gooch and esp the shit side of the demoulas family. Sitting here looking at my screen and I'm at a total loss for words.
Love you all your my family

[PuraVidaDreamin]

44. Has a site been set up to donate $ for the strikers?

They sure need support, and I would send what I could.

[sketchy]

43. kick

[Cha]

45. Thank you, gray!