Do you have adblock enabled?
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Boston Globe)   Still no movement in the Market Basket deal while the "Independent Board Members" make plans to close 61 stores to save money. That's some mighty fine business planning there, Artie S   ( bostonglobe.com) divider line
    More: Followup  
•       •       •

1499 clicks; posted to Business » on 27 Aug 2014 at 4:22 PM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



51 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest


Oldest | « | 1 | 2 | » | Newest | Show all

 
2014-08-27 03:11:22 PM  
What they don't know is that the owners are more than willing to liquidate their remaining assets in the company and get out. It's just a business to them.
 
2014-08-27 04:27:58 PM  
If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.
 
2014-08-27 04:39:35 PM  

WTF Indeed: What they don't know is that the owners are more than willing to liquidate their remaining assets in the company and get out. It's just a business to them.


Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.


Just think, Peasants, while you're working hard to make a living, hopefully earning a good wage because you're smart, hard working and good at your jobs, the folks who are nosediving a successful company into the ground at an astonishing rate could all walk away from the wreckage with more money than you'll make in a dozen lifetimes.
 
2014-08-27 04:59:50 PM  

Target Builder: WTF Indeed: What they don't know is that the owners are more than willing to liquidate their remaining assets in the company and get out. It's just a business to them.

Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.

Just think, Peasants, while you're working hard to make a living, hopefully earning a good wage because you're smart, hard working and good at your jobs, the folks who are nosediving a successful company into the ground at an astonishing rate could all walk away from the wreckage with more money than you'll make in a dozen lifetimes.


It makes me sick to my stomach.
 
2014-08-27 05:18:08 PM  
I'd really like to think that the sale of a successful company that owns significant real estate (can they spin that off to a different business unit?) would be worth more than a bunch of boarded up food stores and the ground they're sitting on....
 
2014-08-27 05:19:30 PM  

Target Builder: WTF Indeed: What they don't know is that the owners are more than willing to liquidate their remaining assets in the company and get out. It's just a business to them.

Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.

Just think, Peasants, while you're working hard to make a living, hopefully earning a good wage because you're smart, hard working and good at your jobs, the folks who are nosediving a successful company into the ground at an astonishing rate could all walk away from the wreckage with more money than you'll make in a dozen lifetimes.


SO LET'S JUST REPLACE GOVERNMENT WITH UNREGULATED FREE MARKET CAPITALISM
/inevitably will say some troll or fool
 
2014-08-27 05:22:42 PM  

WTF Indeed: What they don't know is that the owners are more than willing to liquidate their remaining assets in the company and get out. It's just a business to them.


They could have done THAT a long time back in the process. Every day they don't do that, they're going to get less and less and less unless Artie T is the buyer. Pure, unadulterated spite makes you do expensively stupid things.
 
2014-08-27 05:36:12 PM  

Sasquach: I'd really like to think that the sale of a successful company that owns significant real estate (can they spin that off to a different business unit?) would be worth more than a bunch of boarded up food stores and the ground they're sitting on....


The exchange rate on spite is quite high when family is involved.

Can't believe this is still going on.  It was all but a done deal this past weekend.  Then the bored said fark it at the last minute before the meeting was supposed to take place.
 
2014-08-27 06:20:16 PM  

NeoCortex42: Sasquach: I'd really like to think that the sale of a successful company that owns significant real estate (can they spin that off to a different business unit?) would be worth more than a bunch of boarded up food stores and the ground they're sitting on....

The exchange rate on spite is quite high when family is involved.

Can't believe this is still going on.  It was all but a done deal this past weekend.  Then the bored said fark it at the last minute before the meeting was supposed to take place.


I think part of the plan was to loan Artie T. some of the money and attach onerous terms to the loan.  There may be some butthurt that Artie T. gathered up the finances he needed without the assistance of the other side of the family, because now they can't use that as some sort of leverage to reclaim the company (since the company would have been the collateral).
 
2014-08-27 06:33:18 PM  

Dog Welder: NeoCortex42: Sasquach: I'd really like to think that the sale of a successful company that owns significant real estate (can they spin that off to a different business unit?) would be worth more than a bunch of boarded up food stores and the ground they're sitting on....

The exchange rate on spite is quite high when family is involved.

Can't believe this is still going on.  It was all but a done deal this past weekend.  Then the bored said fark it at the last minute before the meeting was supposed to take place.

I think part of the plan was to loan Artie T. some of the money and attach onerous terms to the loan.  There may be some butthurt that Artie T. gathered up the finances he needed without the assistance of the other side of the family, because now they can't use that as some sort of leverage to reclaim the company (since the company would have been the collateral).


Sounds like what happened. It's what Mr. Burns would do.
 
2014-08-27 07:04:15 PM  

WTF Indeed: What they don't know is that the owners are more than willing to liquidate their remaining assets in the company and get out. It's just a business to them.


Good.  Customers and workers succeeded in destroying 2/3 their net worth.

Too bad it didn't happen more often.  The middle class wouldn't be hurting as bad as they are if they'd take their labor and purchasing power seriously.
 
2014-08-27 07:08:23 PM  

Gosling: WTF Indeed: What they don't know is that the owners are more than willing to liquidate their remaining assets in the company and get out. It's just a business to them.

They could have done THAT a long time back in the process. Every day they don't do that, they're going to get less and less and less unless Artie T is the buyer. Pure, unadulterated spite makes you do expensively stupid things.


...I keep saying that one entire political party's entire political agenda is made up solely of spite...and it seems more and more that the majority of all decisions in America today are being made out of spite.
 
2014-08-27 07:49:07 PM  

Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.


The employees, OTOH, are going to end up jobless. This is exactly why people hate capitalism.
 
2014-08-27 08:13:04 PM  

Serious Black: Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.

The employees, OTOH, are going to end up jobless. This is exactly why people hate capitalism.


Stupid people doing stupid things aren't going to stop doing those things if you make up a new ism and declare that's what we do now. I have never understood why so many people think names are magic.
 
2014-08-27 08:26:41 PM  
www.nerdonomy.com
 
2014-08-27 08:55:16 PM  

itcamefromschenectady: Serious Black: Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.

The employees, OTOH, are going to end up jobless. This is exactly why people hate capitalism.

Stupid people doing stupid things aren't going to stop doing those things if you make up a new ism and declare that's what we do now. I have never understood why so many people think names are magic.


It's not the name that people hate. It's the ethos that what is best for the investors and the owners is best for everyone involved. This is a clear example of where those interests have greatly diverged. You'd never see this kind of stupidity out of a company in Germany where the board of directors is mandated by law to include a minimal percentage of workers' representatives on the BOD.
 
2014-08-27 09:12:59 PM  

Serious Black: itcamefromschenectady: Serious Black: Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.

The employees, OTOH, are going to end up jobless. This is exactly why people hate capitalism.

Stupid people doing stupid things aren't going to stop doing those things if you make up a new ism and declare that's what we do now. I have never understood why so many people think names are magic.

It's not the name that people hate. It's the ethos that what is best for the investors and the owners is best for everyone involved. This is a clear example of where those interests have greatly diverged. You'd never see this kind of stupidity out of a company in Germany where the board of directors is mandated by law to include a minimal percentage of workers' representatives on the BOD.


The investors and the owners are not doing what's best for themselves. It makes no sense to declare that this proves self-interest is a bad ethos when they're shooting themselves in the foot. It's like saying that a murderer likes broccoli, therefore potatoes are evil. Potato.

It's a fundamental human trait, not a product of our economic system, to be willing to harm yourself in order to harm others. That is entirely different from what people hate about self-interested capitalists, who often harm others to benefit themselves.

Burning something to the ground out of spite is independent of any ism, it's just something that people do.
 
2014-08-27 09:14:35 PM  
Im going to Stop and Shop.
 
2014-08-27 09:23:18 PM  

WTF Indeed: What they don't know is that the owners are more than willing to liquidate their remaining assets in the company and get out. It's just a business to them.


So, are you like some fat unemployed dude that just makes a first stupid post on everything?
 
2014-08-27 09:33:11 PM  

Target Builder: WTF Indeed: What they don't know is that the owners are more than willing to liquidate their remaining assets in the company and get out. It's just a business to them.

Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.

Just think, Peasants, while you're working hard to make a living, hopefully earning a good wage because you're smart, hard working and good at your jobs, the folks who are nosediving a successful company into the ground at an astonishing rate could all walk away from the wreckage with more money than you'll make in a dozen lifetimes.


Hey, they earned it by having more money than me already.
 
2014-08-27 09:48:26 PM  

Serious Black: Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.

The employees, OTOH, are going to end up jobless. This is exactly why people hate capitalism.


The employees made their own bed. If they wanted jobs they should have gone to them / not engaged in a slowdown / not supported a customer boycott. If they do in fact lose their jobs here, why would anyone sympathize with them?
 
2014-08-27 09:48:56 PM  

spawn73: WTF Indeed: What they don't know is that the owners are more than willing to liquidate their remaining assets in the company and get out. It's just a business to them.

So, are you like some fat unemployed dude that just makes a first stupid post on everything?


Shots fired!
 
2014-08-27 10:21:17 PM  
Deal is reached. Artie T is back in charge.
 
2014-08-27 10:22:57 PM  
 
2014-08-27 10:29:36 PM  

Gosling: Deal is reached. Artie T is back in charge.


i3.photobucket.com
 
2014-08-27 10:36:40 PM  

Gosling: Deal is reached. Artie T is back in charge.


Now the previous owners have been paid for their interests, Artie T is in charge, and the workers will be happy. It's win win win.
 
2014-08-27 10:39:51 PM  

Debeo Summa Credo: Gosling: Deal is reached. Artie T is back in charge.

Now the previous owners have been paid for their interests, Artie T is in charge, and the workers will be happy. It's win win win.


Someone will find fault with it.

Thanks Obama
 
2014-08-27 11:27:21 PM  

Debeo Summa Credo: Serious Black: Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.

The employees, OTOH, are going to end up jobless. This is exactly why people hate capitalism.

The employees made their own bed. If they wanted jobs they should have gone to them / not engaged in a slowdown / not supported a customer boycott. If they do in fact lose their jobs here, why would anyone sympathize with them?


Are you being intentionally dense? I ask because I know you've been following this story as you've posted in a number of threads here. You have to know that the customers boycotted the company at least partly, more likely mostly, because they sympathized with the employees.
 
2014-08-27 11:46:18 PM  

Serious Black: Are you being intentionally dense?


You do know who you're talking to, right?
Under no circumstance is an employee EVER supposed to ask for anything that might negatively affect the stockholders. It doesn't matter if Arthur S. wanted to cut their wages. Their only allowed response is "Yes, sir. Thank you, sir."
 
2014-08-28 12:52:31 AM  

Skyguard: Boston Globe reporting a deal has been sign to sell
http://www.bostonglobe.com/2014/08/27/deal-sell-market-basket-arthur -d emoulas-has-been-signed/w9cj3I5GjanMthHzXGk11K/story.html


Arthur T: "Well, cousin, we're 50/50 partners in this business. Come with me to the grocery store every day and learn how it works."

Arthur S: "Fark grocery stores. I hate the employees and customers. Buncha plebs."

Arthur T: "I see. How about working in the head office and take charge of the operations?"

Arthur S: "I hate office work. Fark being stuck behind a desk."

Arthur T: "Wait, you're a half-owner of a profitable chain of grocery stores, at least, it was profitable until the last few weeks, and you hate the grocery business and won't work in an office. What am I supposed to do, cuz?"

Arthur S: "Buy me out."
 
2014-08-28 01:10:01 AM  

Aar1012: Gosling: Deal is reached. Artie T is back in charge.

[i3.photobucket.com image 300x180]


I'm thinking more Neville Chamberlain here...
 
2014-08-28 01:19:42 AM  
In the meantime, I hope lots of people have discovered Aldi and Costco.
 
2014-08-28 03:21:42 AM  
Meanwhile, everyone over at Susan G. Komen are glad that next year's business textbooks won't have them as the case study in how to destroy a brand.
 
2014-08-28 03:41:49 AM  

whither_apophis: Meanwhile, everyone over at Susan G. Komen are glad that next year's business textbooks won't have them as the case study in how to destroy a brand.


It yet may make the book. Lots of damage done and no sure bet it will make it.
 
TKM
2014-08-28 05:41:16 AM  
How long is Fark going to be running behind the news cycle?

All of the Reddit kids laugh at me when I mention something that happened almost recently.
 
2014-08-28 06:55:40 AM  
 
2014-08-28 07:07:14 AM  

dolphkhan: In the meantime, I hope lots of people have discovered Aldi and Costco.


Way more Aldis than Costcos in the area. But point. And we will see how many people stay back or have realized that you get what you pay for with produce and meats.
 
2014-08-28 07:22:30 AM  
FTFA
The company's co-CEOs, Felicia Thornton and James Gooch, who replaced Arthur T. in June, will remain in place through the closing period as Arthur T.'s team works to stabilize the chain.

I wouldn't feel good about anything until these two are heaved overboard.
 
2014-08-28 07:23:09 AM  
I meant C2TE's FA
 
2014-08-28 07:27:46 AM  

Serious Black: Debeo Summa Credo: Serious Black: Debeo Summa Credo: If they can sell that real estate (the company owns a significant amount of real estate on which it's stores are located), it might not work out too badly for them.

The employees, OTOH, are going to end up jobless. This is exactly why people hate capitalism.

The employees made their own bed. If they wanted jobs they should have gone to them / not engaged in a slowdown / not supported a customer boycott. If they do in fact lose their jobs here, why would anyone sympathize with them?

Are you being intentionally dense? I ask because I know you've been following this story as you've posted in a number of threads here. You have to know that the customers boycotted the company at least partly, more likely mostly, because they sympathized with the employees.


Perhaps my wording was unclear. They shouldn't have encouraged a customer boycott by protesting etc. had the employees not made a stink and slowed down, customers would have kept coming.

All moot now obviously as the situation seems to have worked out as fairly as possible for everyone.
 
2014-08-28 07:49:40 AM  

Close2TheEdge: Yeah, FARK is late.  Agreement for Arthur T. to buy back company reached.

http://www.boston.com/business/news/2014/08/27/demoulas-sides-reach- de al/YHVqrKp65XS3DBzJd2PulI/story.html?p1=Topopage:Test_B:Main_headline


This story went green 5-1/2 hours before the deal was reached.
 
2014-08-28 07:57:30 AM  
www.reactiongifs.com
 
2014-08-28 07:58:25 AM  

Dog Welder: Close2TheEdge: Yeah, FARK is late.  Agreement for Arthur T. to buy back company reached.

http://www.boston.com/business/news/2014/08/27/demoulas-sides-reach- de al/YHVqrKp65XS3DBzJd2PulI/story.html?p1=Topopage:Test_B:Main_headline

This story went green 5-1/2 hours before the deal was reached.


And no article on the deal has gone green yet.

As popular as this story has been on fark, one would think an article on the deal would have merited a news flash tag.
 
2014-08-28 08:11:13 AM  

max_pooper: Dog Welder: Close2TheEdge: Yeah, FARK is late.  Agreement for Arthur T. to buy back company reached.

http://www.boston.com/business/news/2014/08/27/demoulas-sides-reach- de al/YHVqrKp65XS3DBzJd2PulI/story.html?p1=Topopage:Test_B:Main_headline

This story went green 5-1/2 hours before the deal was reached.

And no article on the deal has gone green yet.

As popular as this story has been on fark, one would think an article on the deal would have merited a news flash tag.


The mods and admins are too busy looking to delete pics of tits and vagina jokes.
 
2014-08-28 08:14:29 AM  
If Artie T has the company back, then I will definitely have to go to Market Basket next time I'm up in Boston.
 
2014-08-28 08:18:53 AM  
Why is it that some small regional supermarket, with a grand total of 71 stores that are all located in three New England states, has made so many Fark headlines recently? A quick search shows there have been at least 23 articles greened in the last month or so about this store. If it was Walmart or some other nation wide chain I could see it, but for some piddly little store that less than 1% of Farkers have probably heard of it seems a bit excessive.

My only guess is that some Fark admin works for one and he's greening his own headlines.
 
2014-08-28 08:29:28 AM  

ReapTheChaos: Why is it that some small regional supermarket, with a grand total of 71 stores that are all located in three New England states, has made so many Fark headlines recently? A quick search shows there have been at least 23 articles greened in the last month or so about this store. If it was Walmart or some other nation wide chain I could see it, but for some piddly little store that less than 1% of Farkers have probably heard of it seems a bit excessive.

My only guess is that some Fark admin works for one and he's greening his own headlines.


Or it could be because the Market Basket example is probably the best depiction of workers and customers engaging the free market in recent memory. It's the anti-Koch story, so of course Fark laps it up.
 
2014-08-28 08:55:48 AM  
It is amazing how loyal the workers were for Arthur. It goes to show that if you treat customers and employees well, they will have your back
 
2014-08-28 01:37:34 PM  

FriarReb98: Way more Aldis than Costcos in the area. But point. And we will see how many people stay back or have realized that you get what you pay for with produce and meats.


My family, and a few others I'm aware of, often get pre-packaged & Deli stuff at Market Basket, and produce & meat at Shaw's and Hannaford's.
 
2014-08-28 09:42:29 PM  
Why would T pay anything for a company that's teetering on the edge of bankruptcy and absolute failure? Without T, Market Basket doesn't appear to be worth much. I'm surprised he hasn't been offered a job as regional manager for another store chain and given the ability to hire many Market Basket employees. That wouldn't cost him a cent, and the jerk family members and board would be left with nothing.
 
Displayed 50 of 51 comments


Oldest | « | 1 | 2 | » | Newest | Show all


View Voting Results: Smartest and Funniest

This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
On Twitter





Top Commented
Javascript is required to view headlines in widget.

In Other Media
  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report