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(Boston Herald)   "Biggest and Final" workers rally planned for today at Market Basket headquarters. So if you're in Tewksbury, MA today, make sure to honk some support for the people who just want their boss back   (bostonherald.com ) divider line
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470 clicks; posted to Business » on 25 Jul 2014 at 1:58 PM (1 year ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



23 Comments     (+0 »)
 
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2014-07-25 12:44:25 PM  
Clarification, it is no longer the "final" rally. Protestors originally said it would be their last when they announced it on Wednesday. They have since decided that they will continue fighting until ATD is reinstated
 
2014-07-25 02:26:08 PM  
Can someone provide a TL;DR of what is going on here?  I understand that Good and Noble Arthur was removed from power by Evil and Selfish Arthur, and this has generally been regarded as a bad idea and made many people quite angry, but what precipitated that turn of events?  And what is so Good and Noble about Good and Noble Arthur that so many of his employees would act in such solidarity to try to get him reinstated?  I can't think of many circumstances at this scale where so many people stood up for someone so far up the company food chain (though I can think of a few examples in the opposite).
 
2014-07-25 02:32:24 PM  

GleeUnit: Can someone provide a TL;DR of what is going on here?  I understand that Good and Noble Arthur was removed from power by Evil and Selfish Arthur, and this has generally been regarded as a bad idea and made many people quite angry, but what precipitated that turn of events?  And what is so Good and Noble about Good and Noble Arthur that so many of his employees would act in such solidarity to try to get him reinstated?  I can't think of many circumstances at this scale where so many people stood up for someone so far up the company food chain (though I can think of a few examples in the opposite).


In a nut shell: Good Artie wants to spend more on employee benefits and lower prices, Bad Arite wants just to give all the money to the board of directors and shaft the employees....
 
2014-07-25 02:44:35 PM  

szyska: GleeUnit: Can someone provide a TL;DR of what is going on here?  I understand that Good and Noble Arthur was removed from power by Evil and Selfish Arthur, and this has generally been regarded as a bad idea and made many people quite angry, but what precipitated that turn of events?  And what is so Good and Noble about Good and Noble Arthur that so many of his employees would act in such solidarity to try to get him reinstated?  I can't think of many circumstances at this scale where so many people stood up for someone so far up the company food chain (though I can think of a few examples in the opposite).

In a nut shell: Good Artie wants to spend more on employee benefits and lower prices, Bad Arite wants just to give all the money to the board of directors and shaft the employees....


And apparently sell some of the stores off to Price Chopper.

UPDATE:  about 6000 people showed up!
 
2014-07-25 02:46:18 PM  
If there were any other companies who had been considering buying any of these stores, I'm guessing they are either having second thoughts of doing so OR they're making some lowball bids.  These store locations are going to be tainted unless ATD comes back.

/taint
 
2014-07-25 02:48:12 PM  

Dog Welder: If there were any other companies who had been considering buying any of these stores, I'm guessing they are either having second thoughts of doing so OR they're making some lowball bids.  These store locations are going to be tainted unless ATD comes back.

/taint


Agreed, or the Board realized listening to scummy cousin over ATD probably wasn't the best horse to bet on and they'll flip on him like they flipped on ATD. Bunch of assholes, all of them

/asshole
 
2014-07-25 02:52:58 PM  

Dog Welder: If there were any other companies who had been considering buying any of these stores, I'm guessing they are either having second thoughts of doing so OR they're making some lowball bids.  These store locations are going to be tainted unless ATD comes back.

/taint


This.  But I'm not sure they realize that.  In the meantime, the other local grocery stores will be laughing all the way to the bank.
 
2014-07-25 02:54:47 PM  
Good Artie just needs to buyout "bad Artie" in an MBO. Then good Artie can pay as much as he wants to employees and charge his customers as little as he wants, and the bad cousins won't be able to say shiat about it.
 
2014-07-25 03:24:06 PM  

Debeo Summa Credo: Good Artie just needs to buyout "bad Artie" in an MBO. Then good Artie can pay as much as he wants to employees and charge his customers as little as he wants, and the bad cousins won't be able to say shiat about it.


the board said today that they would at least hear Good Artie's proposal. at this point MB is poison without him, but i don't think bad artie and his team ever cared. just want to make a quick buck and retire to a private island.
 
2014-07-25 03:39:38 PM  
So reinstate the CEO, sell to the CEO or go out of business. Someone didn't think their cunning plan all the way through
 
2014-07-25 03:47:44 PM  
They say they'll "seriously consider" ADT's offer.  Meaning laughing for a while before throwing it in the trash bin.
 
2014-07-25 03:57:05 PM  

WhyteRaven74: So reinstate the CEO, sell to the CEO or go out of business. Someone didn't think their cunning plan all the way through


They thought it through plenty.  All they want to do is raid the company treasury, and leave the rest to rot.  Looting what they can from cash accounts in one single swoop is the entirety of the plan.
 
2014-07-25 04:22:32 PM  

Kuroshin: All they want to do is raid the company treasury, and leave the rest to rot.  Looting what they can from cash accounts in one single swoop is the entirety of the plan


So?

Why don't the employees buy the business if they care so much?
 
2014-07-25 04:33:14 PM  

MugzyBrown: Kuroshin: All they want to do is raid the company treasury, and leave the rest to rot.  Looting what they can from cash accounts in one single swoop is the entirety of the plan

So?

Why don't the employees buy the business if they care so much?


Not sure if serious...
 
2014-07-25 05:03:46 PM  

Kuroshin: WhyteRaven74: So reinstate the CEO, sell to the CEO or go out of business. Someone didn't think their cunning plan all the way through

They thought it through plenty.  All they want to do is raid the company treasury, and leave the rest to rot.  Looting what they can from cash accounts in one single swoop is the entirety of the plan.


Mmm, more complex than that. Any cash in the company's bank accounts belongs to the owners.

They need some baseline cash for working capital (meet payroll, buy goods, etc), but it's highly doubtful that there's a big dollop of excess cash in a company bank account that the owners want. If there was, they could take it and it wouldn't affect the ongoing ops of the company. And the working capital cash is prob a fraction of what the ongoing business generates in a year.
 
2014-07-25 05:12:36 PM  

Debeo Summa Credo: Kuroshin: WhyteRaven74: So reinstate the CEO, sell to the CEO or go out of business. Someone didn't think their cunning plan all the way through

They thought it through plenty.  All they want to do is raid the company treasury, and leave the rest to rot.  Looting what they can from cash accounts in one single swoop is the entirety of the plan.

Mmm, more complex than that. Any cash in the company's bank accounts belongs to the owners.

They need some baseline cash for working capital (meet payroll, buy goods, etc), but it's highly doubtful that there's a big dollop of excess cash in a company bank account that the owners want. If there was, they could take it and it wouldn't affect the ongoing ops of the company. And the working capital cash is prob a fraction of what the ongoing business generates in a year.


Um, no. Any cash in the company's bank accounts belongs to the company. That's why it was created in the first place.
 
2014-07-25 05:31:34 PM  

qorkfiend: Debeo Summa Credo: Kuroshin: WhyteRaven74: So reinstate the CEO, sell to the CEO or go out of business. Someone didn't think their cunning plan all the way through

They thought it through plenty.  All they want to do is raid the company treasury, and leave the rest to rot.  Looting what they can from cash accounts in one single swoop is the entirety of the plan.

Mmm, more complex than that. Any cash in the company's bank accounts belongs to the owners.

They need some baseline cash for working capital (meet payroll, buy goods, etc), but it's highly doubtful that there's a big dollop of excess cash in a company bank account that the owners want. If there was, they could take it and it wouldn't affect the ongoing ops of the company. And the working capital cash is prob a fraction of what the ongoing business generates in a year.

Um, no. Any cash in the company's bank accounts belongs to the company. That's why it was created in the first place.


And the company is owned by the owners and they can decide what to do with the cash, including distribute it to owners. What's your point? Do you agree with the guy that said that "looting the cash accounts is the entireity of the plan"
 
2014-07-25 05:43:06 PM  
I was just in a Hannaford's that's 1/4 mile away from a Market Basket. They've noticeably lowered their prices on some items I've spot checked. It seems like Hannaford's is planning on keeping some of their new customers after the MB fiasco is over.
 
2014-07-25 05:52:10 PM  

qorkfiend: Um, no. Any cash in the company's bank accounts belongs to the company. That's why it was created in the first place.


Dont even start the exchange. Everyone on FARK more than two weeks knows Oligarch Defender Bot will insist that the shareholders are the owners are the company and they are indivisible (except in the case of liability).
 
2014-07-25 06:43:05 PM  
One of the Co-CEOs' claim to fame is being a major exec at RadioShack and Sears/Kmart.  That tells you all you need to know about who hired them.  The owners want to loot the company just like Eddie Lampert.
 
Boe [TotalFark]
2014-07-25 07:36:14 PM  

TheSelphie: One of the Co-CEOs' claim to fame is being a major exec at RadioShack and Sears/Kmart.  That tells you all you need to know about who hired them.  The owners want to loot the company just like Eddie Lampert.


The guy that Ayn Randed Sears into the ground?  Holy cats, someone hired him again!
 
2014-07-25 09:45:03 PM  

qorkfiend: Debeo Summa Credo: Kuroshin: WhyteRaven74: So reinstate the CEO, sell to the CEO or go out of business. Someone didn't think their cunning plan all the way through

They thought it through plenty.  All they want to do is raid the company treasury, and leave the rest to rot.  Looting what they can from cash accounts in one single swoop is the entirety of the plan.

Mmm, more complex than that. Any cash in the company's bank accounts belongs to the owners.

They need some baseline cash for working capital (meet payroll, buy goods, etc), but it's highly doubtful that there's a big dollop of excess cash in a company bank account that the owners want. If there was, they could take it and it wouldn't affect the ongoing ops of the company. And the working capital cash is prob a fraction of what the ongoing business generates in a year.

Um, no. Any cash in the company's bank accounts belongs to the company. That's why it was created in the first place.


There was and they already raided a portion of it posting dividends to shareholders out of cash reserves. They did this right after firing Arthur T. over his objections.
 
2014-07-26 01:18:41 PM  

Boe: TheSelphie: One of the Co-CEOs' claim to fame is being a major exec at RadioShack and Sears/Kmart.  That tells you all you need to know about who hired them.  The owners want to loot the company just like Eddie Lampert.

The guy that Ayn Randed Sears into the ground?  Holy cats, someone hired him again!


No, not Eddie Lampert, but someone else who was an exec there, Jim Gooch.  The other co-CEO used to be the CEO of Albertsons.  That is all you need to know- they didn't want competent people to be CEO.
 
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