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(NECN Boston)   Market Basket's current management overpays Boston Sword and Tuna nearly $500k for products. Boston Sword CEO not sure if they are incompetent or trying to sabotage their own company, but he's certain that it smells fishy   (necn.com) divider line 68
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2361 clicks; posted to Business » on 19 Aug 2014 at 2:52 AM (23 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-08-19 12:49:57 AM  
Boston Sword and Tuna is the official name of Fark's new anti-misogyny guidelines.
 
2014-08-19 01:33:00 AM  
Gee, you think?
 
2014-08-19 01:34:24 AM  
[whynotboth.jpg]
 
2014-08-19 02:02:13 AM  

violentsalvation: Boston Sword and Tuna is the official name of Fark's new anti-misogyny guidelines.


Ahaha, I woke my wife up with a snortle on that one. Well done.
 
2014-08-19 03:12:22 AM  
money laundering, how does it work?
 
2014-08-19 03:35:32 AM  

violentsalvation: Boston Sword and Tuna is the official name of Fark's new anti-misogyny guidelines.


It would also be an awesome name for a porn studio.
 
2014-08-19 04:22:18 AM  

Mad_Radhu: violentsalvation: Boston Sword and Tuna is the official name of Fark's new anti-misogyny guidelines.

It would also be an awesome name for a porn studio.



It sounds like a martial arts style.
 
2014-08-19 05:03:41 AM  

violentsalvation: Boston Sword and Tuna is the official name of Fark's new anti-misogyny guidelines.


Reported fpr sexism.
 
2014-08-19 06:20:18 AM  

MaudlinMutantMollusk: [whynotboth.jpg]


Never attribute to malice what can be explained by incompetence; the co-CEO's are pretty much idiots in all fields except for downsizing companies and selling off carcasses

Now, one could argue that the incompetence was brought on board due to malice....
 
2014-08-19 06:24:28 AM  
That sort of move sounds like a trigger for a shareholder lawsuit.  Perhaps an emergency injunction to lock those a-holes out and bring Artie T back in as caretaker.
 
2014-08-19 06:50:24 AM  

dionysusaur: That sort of move sounds like a trigger for a shareholder lawsuit.  Perhaps an emergency injunction to lock those a-holes out and bring Artie T back in as caretaker.


I sure hope so. I'm running low on a lot of stuff and really don't want to go to Shaws to get it.
 
2014-08-19 07:35:07 AM  
They've fired so many people now that the C level execs are cutting the checks to suppliers now? Man, that place is in trouble.
 
2014-08-19 07:59:38 AM  

hubiestubert: Gee, you think?


Is this where the "Why Not Both" gif goes?
 
2014-08-19 08:01:01 AM  

Chevello: They've fired so many people now that the C level execs are cutting the checks to suppliers now? Man, that place is in trouble.


Large checks usually require an additional signer. They may not have cut the checks, but they did provide an extra level of authorization.
 
2014-08-19 08:17:53 AM  
Yay feminazis
 
2014-08-19 08:24:20 AM  
Huh, well on the upside, there's going to be a decision by Friday. Either they sell to ATD or they sell to Hannaford's with ATD as manager.

Also, they've vowed to not fire any striking workers until Friday
 
2014-08-19 08:48:14 AM  

Chevello: They've fired so many people now that the C level execs are cutting the checks to suppliers now? Man, that place is in trouble.


What does a can of tuna go for these days?  $50?
 
2014-08-19 08:49:35 AM  
At this point, I wouldn't be surprised to find out that the MB BoD & the Ferguson PD had the same 'adviser'.
 
2014-08-19 08:53:54 AM  

Mr.Tangent: Chevello: They've fired so many people now that the C level execs are cutting the checks to suppliers now? Man, that place is in trouble.

What does a can of tuna go for these days?  $50?


That's right, gold is falling, but tuna is still going up.

/pats pantry door
//my retirement is secure
 
2014-08-19 09:31:21 AM  

somedude210: Huh, well on the upside, there's going to be a decision by Friday. Either they sell to ATD or they sell to Hannaford's with ATD as manager.



Really? I havent seen that news yet...
 
2014-08-19 09:44:17 AM  
Whole Foods opens today in a former MB store in my town. I wonder how the 1st world problem dbags will feel with the MB riffraff invading THEIR precious Mecca.

/Amherst St is going to be a joke.
//I have no other way to get to my home.
 
2014-08-19 09:52:41 AM  

Hack Patooey: somedude210: Huh, well on the upside, there's going to be a decision by Friday. Either they sell to ATD or they sell to Hannaford's with ATD as manager.


Really? I havent seen that news yet...


Nevermind, found it...
 
2014-08-19 09:54:16 AM  

Hack Patooey: somedude210: Huh, well on the upside, there's going to be a decision by Friday. Either they sell to ATD or they sell to Hannaford's with ATD as manager.


Really? I havent seen that news yet...


Globe broke it this morning, theres a thread in the queue
 
2014-08-19 09:56:41 AM  

somedude210: Huh, well on the upside, there's going to be a decision by Friday. Either they sell to ATD or they sell to Hannaford's with ATD as manager.

Also, they've vowed to not fire any striking workers until Friday


I'm sure they've already decided what to do.  Waiting until Friday is just going to devalue the company that much more before the sale, which is probably what they're trying to do at this point.
 
2014-08-19 10:08:53 AM  

NeoCortex42: somedude210: Huh, well on the upside, there's going to be a decision by Friday. Either they sell to ATD or they sell to Hannaford's with ATD as manager.

Also, they've vowed to not fire any striking workers until Friday

I'm sure they've already decided what to do.  Waiting until Friday is just going to devalue the company that much more before the sale, which is probably what they're trying to do at this point.


I don't really understand some people's claims that the BOD is intentionally devaluating the company. Why would they do that? What rationale would a group of people have for reducing the value of something they are trying to sell?
 
2014-08-19 10:20:39 AM  

max_pooper: NeoCortex42: somedude210: Huh, well on the upside, there's going to be a decision by Friday. Either they sell to ATD or they sell to Hannaford's with ATD as manager.

Also, they've vowed to not fire any striking workers until Friday

I'm sure they've already decided what to do.  Waiting until Friday is just going to devalue the company that much more before the sale, which is probably what they're trying to do at this point.

I don't really understand some people's claims that the BOD is intentionally devaluating the company. Why would they do that? What rationale would a group of people have for reducing the value of something they are trying to sell?


Family fueds never make logical sense.  You don't realize how much the Arthur S. side of the family loathes the Arthur T. side.
 
2014-08-19 10:23:13 AM  

NeoCortex42: max_pooper: NeoCortex42: somedude210: Huh, well on the upside, there's going to be a decision by Friday. Either they sell to ATD or they sell to Hannaford's with ATD as manager.

Also, they've vowed to not fire any striking workers until Friday

I'm sure they've already decided what to do.  Waiting until Friday is just going to devalue the company that much more before the sale, which is probably what they're trying to do at this point.

I don't really understand some people's claims that the BOD is intentionally devaluating the company. Why would they do that? What rationale would a group of people have for reducing the value of something they are trying to sell?

Family fueds never make logical sense.  You don't realize how much the Arthur S. side of the family loathes the Arthur T. side.


If I read the history of the fued, isnt the Arthur T side of the family the original side that wrested control from Author S's side oh-these-many-years-ago?
 
2014-08-19 10:30:01 AM  

Two rich guys fighting over an ant farm.

Tell me again about the intangibles. It'll be fun to listen to folks claim that this is going on because of idealistic differences. No, it still just boils down to two rich guys fighting over an ant farm - now that the second rich guy has realized that he's going to have to give the ant farm back, he's smearing shiat all over it out of a sense of petty revenge. "If I can't have the pretty ant farm, then nobody can have a pretty ant farm."
 
2014-08-19 10:36:24 AM  
Hack Patooey:

If I read the history of the fued, isnt the Arthur T side of the family the original side that wrested control from Author S's side oh-these-many-years-ago?

If I remember correctly, at some point Arthur T's side created a side business that was also really successful, and Arthur S's side claimed that due to the original agreement between the two brothers (back 1 generation?), any business ventures associated with the grocery were inherently split ownership between the two brothers, and if dead, their heirs.  Arthur T's side said, nope, it's separate from the grocery so it's just us.  It went to court in the mid 90's, and the judge decided in favor of Arthur S's side, saying that the companies were related.  The result of the judgement, besides I'm assuming a boat load of cash, was granting Arthur S's side some of Arthur T's side stocks, giving Arthur S's side enough extra to get to the 50.5 controlling share.
 
2014-08-19 10:57:25 AM  
The accountant in me is wondering where is the three-way match.

The 10 year-old in me is laughing at the accountant.
 
2014-08-19 11:10:50 AM  

the8re: Whole Foods opens today in a former MB store in my town. I wonder how the 1st world problem dbags will feel with the MB riffraff invading THEIR precious Mecca.

/Amherst St is going to be a joke.
//I have no other way to get to my home.


Hi, I'm waving to you from down the street!  Thinking about checking out Whole Foods today, but probably not going to - I'm lazy.
 
2014-08-19 11:16:10 AM  
I honestly don't understand how the owners of MB can keep going like this.  They've lost; it doesn't matter what their original plan / end game was, they've lost.  They've destroyed the value of their company and are showing zero signs of ANY credible attempt to save it.
 
2014-08-19 11:18:13 AM  

Satanic_Hamster: I honestly don't understand how the owners of MB can keep going like this.  They've lost; it doesn't matter what their original plan / end game was, they've lost.  They've destroyed the value of their company and are showing zero signs of ANY credible attempt to save it.


I'd be really curious to read a tell-all book about this whole fiasco that had some sort of inside info on the conversations that have been happening in the board room since this mess started.
 
2014-08-19 11:53:52 AM  
If the Boston Sword CEO isn't going to refund the overpayment, then they need to STFU and let the BM implosion happen. By "outing" the overpayment, they're really just highlighting their own shady business practices.
 
2014-08-19 12:00:17 PM  

The My Little Pony Killer: If the Boston Sword CEO isn't going to refund the overpayment, then they need to STFU and let the BM implosion happen. By "outing" the overpayment, they're really just highlighting their own shady business practices.


That's completely besides the point.  It's just a supplier company they do business with pointing out that they're so screwed up now that they're overpaying by 500 a million dollars for goods, when bleeding millions of dollars a week.
 
2014-08-19 12:02:27 PM  

squegeebooo: The My Little Pony Killer: If the Boston Sword CEO isn't going to refund the overpayment, then they need to STFU and let the BM implosion happen. By "outing" the overpayment, they're really just highlighting their own shady business practices.

That's completely besides the point.  It's just a supplier company they do business with pointing out that they're so screwed up now that they're overpaying by 500 a million dollars for goods, when bleeding millions of dollars a week.


Ooops, meant 1/2 a million, or 500 thousand not 500 a million.
 
2014-08-19 12:46:20 PM  

NeoCortex42: I'd be really curious to read a tell-all book about this whole fiasco that had some sort of inside info on the conversations that have been happening in the board room since this mess started.


Especially since it would just take one person to flip to change it; this whole mess started when that relative in England changed her votes all of a sudden.  You'd think it would occur to her "Crap, that was a bad decision and I should reverse to save the value of my investment."
 
2014-08-19 01:01:40 PM  

Chevello: Mr.Tangent: Chevello: They've fired so many people now that the C level execs are cutting the checks to suppliers now? Man, that place is in trouble.

What does a can of tuna go for these days?  $50?

That's right, gold is falling, but tuna is still going up.

/pats pantry door
//my retirement is secure


Once again the sandwich-heavy portfolio pays off for the hungry investor!
 
2014-08-19 01:14:30 PM  

FormlessOne: Two rich guys fighting over an ant farm.Tell me again about the intangibles. It'll be fun to listen to folks claim that this is going on because of idealistic differences. No, it still just boils down to two rich guys fighting over an ant farm - now that the second rich guy has realized that he's going to have to give the ant farm back, he's smearing shiat all over it out of a sense of petty revenge. "If I can't have the pretty ant farm, then nobody can have a pretty ant farm."


That's deep, man. Totally deep.

Did you learn that kind of thinking in your 'race, culture and power 101' class? Or was it "Modern Communism 403: let's try to avoid mass murder this time!"
 
2014-08-19 01:22:28 PM  

The My Little Pony Killer: If the Boston Sword CEO isn't going to refund the overpayment, then they need to STFU and let the BM implosion happen. By "outing" the overpayment, they're really just highlighting their own shady business practices.


They refunded the first overpayment of $81 grand. If they deposited the check, they'll be returning the overpayment sooner or later.
At this point, it might make more sense to consider it a pre-payment on future deliveries, and not ask for any more money until the overpayment is exhausted.
Given how screwed up the situation is, that might be both a logical and honest choice.
They can hardly be accused of shady business practices if the fish company brought this information to public light, in any case. Obviously they're not going to keep the money as a windfall, they would have kept their mouths shut if that was their plan.
 
2014-08-19 01:46:01 PM  
"The only other explanation seemed to be a deliberate attempt to sabotage the future of the company."

Gee, ya think? This was their plan from the start to make it collapse. That half a mil is nothing compared to what the CEO and board members have likely already siphoned from it and put into their bank accounts.
 
2014-08-19 01:50:20 PM  

RoxtarRyan: "The only other explanation seemed to be a deliberate attempt to sabotage the future of the company."

Gee, ya think? This was their plan from the start to make it collapse. That half a mil is nothing compared to what the CEO and board members have likely already siphoned from it and put into their bank accounts.


I must ask again, how does the owners of company make money by reducing the value of the it? How does that decision get made?

Board member: "We can sell this company for $2 billion."
Other board member: "Yeah but we really screw things up we can sell it for $1 billion."
The entire board: "YEAH!"
 
2014-08-19 01:56:32 PM  

max_pooper: RoxtarRyan: "The only other explanation seemed to be a deliberate attempt to sabotage the future of the company."

Gee, ya think? This was their plan from the start to make it collapse. That half a mil is nothing compared to what the CEO and board members have likely already siphoned from it and put into their bank accounts.

I must ask again, how does the owners of company make money by reducing the value of the it? How does that decision get made?

Board member: "We can sell this company for $2 billion."
Other board member: "Yeah but we really screw things up we can sell it for $1 billion."
The entire board: "YEAH!"


They get told to sell it by the board members, and thus profit from the sale
 
2014-08-19 01:58:12 PM  

machoprogrammer: max_pooper: RoxtarRyan: "The only other explanation seemed to be a deliberate attempt to sabotage the future of the company."

Gee, ya think? This was their plan from the start to make it collapse. That half a mil is nothing compared to what the CEO and board members have likely already siphoned from it and put into their bank accounts.

I must ask again, how does the owners of company make money by reducing the value of the it? How does that decision get made?

Board member: "We can sell this company for $2 billion."
Other board member: "Yeah but we really screw things up we can sell it for $1 billion."
The entire board: "YEAH!"

They get told to sell it by the board members, and thus profit from the sale


Again, how is it beneficial to purposely reduce the value of an asset prior to sale?
 
2014-08-19 02:01:23 PM  

max_pooper: I must ask again, how does the owners of company make money by reducing the value of the it?


Illegally? Because I can't really go into how to drain business financial accounts on this site. But take a look at the history of companies who have done it in the past and combine that with our government's damn near condoning of said actions.
 
2014-08-19 02:08:34 PM  

RoxtarRyan: max_pooper: I must ask again, how does the owners of company make money by reducing the value of the it?

Illegally? Because I can't really go into how to drain business financial accounts on this site. But take a look at the history of companies who have done it in the past and combine that with our government's damn near condoning of said actions.


Embezzlement? Secretly stealing money from the company?

While they may be stealing from the company, they are very publicly ruining the value of the company by driving away customers and other public relations nightmares. In just about every MB thread there have been people that claim the actions of the BOD are all to intentionally ruin the company so they can make money.

That claim just doesn't make sense. It's like slashing the tires and smashing out the windows of your mint condition '71 Chevelle SS right before rolling into the auction house.
 
2014-08-19 02:17:05 PM  

max_pooper: While they may be stealing from the company, they are very publicly ruining the value of the company by driving away customers and other public relations nightmares. In just about every MB thread there have been people that claim the actions of the BOD are all to intentionally ruin the company so they can make money.


Who says they have plans on selling the company? Every action they have taken so far is pretty telling that they don't have any intention on the company staying in business much longer. Have a PR nightmare, who cares? That is like giving a shiat about the polish on the floors of the Titanic, if it was intentionally run into an iceberg.
 
2014-08-19 02:21:20 PM  

RoxtarRyan: max_pooper: While they may be stealing from the company, they are very publicly ruining the value of the company by driving away customers and other public relations nightmares. In just about every MB thread there have been people that claim the actions of the BOD are all to intentionally ruin the company so they can make money.

Who says they have plans on selling the company? Every action they have taken so far is pretty telling that they don't have any intention on the company staying in business much longer. Have a PR nightmare, who cares? That is like giving a shiat about the polish on the floors of the Titanic, if it was intentionally run into an iceberg.


How does this benefit them? How do owners of a company benefit if the company no longer earns money?
 
2014-08-19 02:25:06 PM  

max_pooper: RoxtarRyan: max_pooper: While they may be stealing from the company, they are very publicly ruining the value of the company by driving away customers and other public relations nightmares. In just about every MB thread there have been people that claim the actions of the BOD are all to intentionally ruin the company so they can make money.

Who says they have plans on selling the company? Every action they have taken so far is pretty telling that they don't have any intention on the company staying in business much longer. Have a PR nightmare, who cares? That is like giving a shiat about the polish on the floors of the Titanic, if it was intentionally run into an iceberg.

How does this benefit them? How do owners of a company benefit if the company no longer earns money?


Can't put a price on "You can't have it, Artie T.  Not yours"
 
2014-08-19 02:35:09 PM  

max_pooper: How does this benefit them? How do owners of a company benefit if the company no longer earns money?


Take what money they have in the accounts, divvy it up among themselves.

wooden_badger: Can't put a price on "You can't have it, Artie T. Not yours"


And spite. Spite is a good motivator.


If anything, what do you think they are trying to do, then? The board has been in power for longer than Arthur S. has, they have an idea on how to run a business. Why else would they be running it into the ground and simply not giving a shiat about PR nightmares, workers, etc? What are your thoughts?

Point being, I answered your question, you seem to not be appeased by my answer. What is your response to "How does this benefit them? How do owners of a company benefit if the company no longer earns money?", because since this whole fiasco has started, they haven't made one move that a company who wants to stay in business would take.
 
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