GRG a/k/a goldenrulegirl
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Post by GRG a/k/a goldenrulegirl on Jul 25, 2014 13:44:27 GMT -5
Lena, I think you'd enjoy a leisurely, picturesque, drive over to Carl's store in Vermont as your new grocery routine.
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Opti
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Post by Opti on Jul 25, 2014 13:51:34 GMT -5
Looks like it continues and they plan on ignoring their unhappy workers.
www.bizjournals.com/boston/news/2014/07/25/market-basket-board-affirms-new-ceos-but-is.html
The board of Market Basket parent Demoulas Super Markets said today it will weigh an offer from a group led by ousted CEO Arthur T. Demoulas to buy a controlling share in the company. Directors also expressed their faith in his replacements — co-CEOs Felicia Thornton and James Gooch.
In a prepared statement, board members said: "Consistent with its fiduciary obligations, the Board will evaluate and seriously consider this proposal, along with any other offers previously received and to be received. Following its evaluation of all of the offers, it will convey its recommendations to the Company’s shareholders."
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GRG a/k/a goldenrulegirl
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"How you win matters." Ender, Ender's Game
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Post by GRG a/k/a goldenrulegirl on Jul 25, 2014 14:28:03 GMT -5
I'm expecting "Team Arthur T", and "Team Arthur S" t-shirts soon. It's like the twilight mania....... The "Team Arthur T" t-shirts already exist, LOL. Saw one on the news last night.
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yogiii
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Post by yogiii on Jul 25, 2014 14:48:42 GMT -5
There have also been a ton of songs on the radio where they change the words to be applicable. Those are hilarious.
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Bob Ross
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Post by Bob Ross on Jul 25, 2014 15:41:22 GMT -5
I'm thinking that the strikers will come 'round once the town starts resorting to cannibalism.
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yogiii
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Post by yogiii on Jul 31, 2014 5:54:41 GMT -5
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whoisjohngalt
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Post by whoisjohngalt on Jul 31, 2014 8:19:19 GMT -5
All I know is that I have no fresh fruit left in the house and need to decide where I am going shopping....
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Deleted
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Post by Deleted on Jul 31, 2014 8:34:51 GMT -5
I have cherries. Lots and lots of cherries. Free. Please. Take them.
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TheHaitian
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Post by TheHaitian on Jul 31, 2014 8:36:15 GMT -5
Your one and only grocery store is guaranteeing us "our" bonus for next year. Hope they remain close just a little bit longer!
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Deleted
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Post by Deleted on Jul 31, 2014 8:54:05 GMT -5
I don't understand the only one store to shop at thing. within 20 minutes of me I have - Safeway, Giant, Food Lion, Shopper's Food Warehouse, Whole Food, Harris Teeter, Trader Joe's, Target, Wegman's, Target, Walmart (if I was desperate enough), probably a bunch of ethnic markets, the Amish Market, and there are a probably a few more whose names I can't recall.
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yogiii
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Post by yogiii on Jul 31, 2014 8:59:13 GMT -5
I don't think she's complaining how other options don't exist, it's that they are significantly more expensive. I'll give you an example. Hummus at Market Basket $3.49 regular price, or on sale regularly for $2.50. At another store I had to go to the regular price was $5.49 for the exact same thing. I noticed most items were 30-70 cents more and I wasn't even paying too much attention because I was shopping with a 1 and 4 y/o.
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Post by Deleted on Jul 31, 2014 9:00:19 GMT -5
I have three grocery stores within 20 miles, but one is Walmart and one is really spendy, so if Hyvee went on strike I'd be complaining. I'd probably just drive to the next town to shop. I already go there once a month to hit Sam's Club, so we'd more than likely just get 90% of our stuff then.
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Post by Deleted on Jul 31, 2014 9:03:45 GMT -5
I don't think she's complaining how other options don't exist, it's that they are significantly more expensive. I'll give you an example. Hummus at Market Basket $3.49 regular price, or on sale regularly for $2.50. At another store I had to go to the regular price was $5.49 for the exact same thing. I noticed most items were 30-70 cents more and I wasn't even paying too much attention because I was shopping with a 1 and 4 y/o. yeah, I shop for convenience and a mostly pleasant experience, price isn't really a consideration (although if prices were double elsewhere I would reconsider).
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wvugurl26
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Post by wvugurl26 on Jul 31, 2014 9:07:16 GMT -5
I don't think she's complaining how other options don't exist, it's that they are significantly more expensive. I'll give you an example. Hummus at Market Basket $3.49 regular price, or on sale regularly for $2.50. At another store I had to go to the regular price was $5.49 for the exact same thing. I noticed most items were 30-70 cents more and I wasn't even paying too much attention because I was shopping with a 1 and 4 y/o. yeah, I shop for convenience and a mostly pleasant experience, price isn't really a consideration (although if prices were double elsewhere I would reconsider). Come on if Wegman's was closed, we would not be happy. The atmosphere is much nicer and for my typical grocery list I find Wegman's to be much cheaper day to day than Giant or Safeway.
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GRG a/k/a goldenrulegirl
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Post by GRG a/k/a goldenrulegirl on Jul 31, 2014 15:37:19 GMT -5
IIRC, Lena lives in a state in which there ARE areas where grocery stores are few and far between -- like a 45 minute drive to one, easily. She may live in one of those heavily rural areas. Suburban Maryland -- with which I have a fair amount of experience -- is not a fair comparison to those areas -- with which I also have a fair amount of experience.
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whoisjohngalt
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Post by whoisjohngalt on Jul 31, 2014 15:52:07 GMT -5
Your one and only grocery store is guaranteeing us "our" bonus for next year. Hope they remain close just a little bit longer! After comment like that, I am not sure you should be allowed back I just came back from Walmart and Shaws Walmart sucked the life out of me Shaws made me broke!!!!!!!!!!
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whoisjohngalt
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Post by whoisjohngalt on Jul 31, 2014 15:54:51 GMT -5
I don't understand the only one store to shop at thing. within 20 minutes of me I have - Safeway, Giant, Food Lion, Shopper's Food Warehouse, Whole Food, Harris Teeter, Trader Joe's, Target, Wegman's, Target, Walmart (if I was desperate enough), probably a bunch of ethnic markets, the Amish Market, and there are a probably a few more whose names I can't recall. I didn't say I didn't have other stores, I said this one has the best combo of quality and prices I wish I lived close enough to Wegman, but I don't TJ - I am not a fan of their produce that much When I lived in MD, I never shopped in Giant or Safeway - way overpriced. Amish market has a very funky schedule. I won't buy produce in Target or Walmart
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TheHaitian
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Post by TheHaitian on Jul 31, 2014 16:02:13 GMT -5
Your one and only grocery store is guaranteeing us "our" bonus for next year. Hope they remain close just a little bit longer! After comment like that, I am not sure you should be allowed back I just came back from Walmart and Shaws Walmart sucked the life out of me Shaws made me broke!!!!!!!!!! What? Every competitor to market basket is now salivating with a boner on top. Just my area our sales were up 1.2 Millions over budget in one week, take into account Shaw, Hannaford, Stop & shop, Walmart etc all taking their share of the pie. My friends in Hannaford and Stop and Shop are saying it is Christmas in July (so are we). Everyone is celebrating and chanting: go down, go down, go down! This is a moment in history for us where we will tell the younger generation: this is how a family let their greed get the best of them and we were there to pick up the pieces. If this goes for another week; I know one thing: I am getting a bonus next year.
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Post by Deleted on Jul 31, 2014 18:13:39 GMT -5
yeah, I shop for convenience and a mostly pleasant experience, price isn't really a consideration (although if prices were double elsewhere I would reconsider). Come on if Wegman's was closed, we would not be happy. The atmosphere is much nicer and for my typical grocery list I find Wegman's to be much cheaper day to day than Giant or Safeway. I would just go back to shopping at Trader Joes, MOMs (left off my original list) and Weis (also left off my original list). but yes, now that I'm used to wegmans I would hate to see it not be available.
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whoisjohngalt
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Post by whoisjohngalt on Jul 31, 2014 18:18:17 GMT -5
We might be getting Wegman about half an hour from where I am. But even Wegman in Columbia (which usually had better prices than the one in MA) was getting fairly expensive the last I was there - last month
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Nazgul Girl
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Post by Nazgul Girl on Jul 31, 2014 18:27:49 GMT -5
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8 Bit WWBG
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Post by 8 Bit WWBG on Jul 31, 2014 19:33:52 GMT -5
...:::"Come on if Wegman's was closed, we would not be happy. The atmosphere is much nicer and for my typical grocery list I find Wegman's to be much cheaper day to day than Giant or Safeway.":::...
Bingo. There are "other" stores, of course. But when you find one that carries items you are fond of, and has good prices, you'd be loathed to switch. Wegmans seems to carry items I like and has low prices on them. I "could" go "somewhere else" and I'd pay more or have to go to other stores anyway.
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Post by Deleted on Aug 1, 2014 13:33:32 GMT -5
...:::"Come on if Wegman's was closed, we would not be happy. The atmosphere is much nicer and for my typical grocery list I find Wegman's to be much cheaper day to day than Giant or Safeway.":::... Bingo. There are "other" stores, of course. But when you find one that carries items you are fond of, and has good prices, you'd be loathed to switch. Wegmans seems to carry items I like and has low prices on them. I "could" go "somewhere else" and I'd pay more or have to go to other stores anyway. see, I have no idea how the prices at Wegman's compare to anywhere else. If I get out of Wegman's under $250 I'm happy....but if I don't shop there, I would get some stuff at trader joe's, some at target, some as moms, some somewhere else, so I would have no idea how much I was spending (I don't budget or track).
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wvugurl26
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Post by wvugurl26 on Aug 1, 2014 13:44:54 GMT -5
We might be getting Wegman about half an hour from where I am. But even Wegman in Columbia (which usually had better prices than the one in MA) was getting fairly expensive the last I was there - last month I haven't been to that one in a few months. I've been going to the one closer on my Friday off. I paid $2.50 for milk last week. I have never seen milk less than $4/gallon at Giant or Safeway.
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yogiii
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Post by yogiii on Aug 1, 2014 15:25:52 GMT -5
interesting read - thanks! this is very interesting to me - right out of a soap opera really. i was following it along until I got busy with work....now I'm back in... Apparently - Arthur T and Arthur S were at odds, but Arthur T had the majority shareholder coalition. Finally after years of plotting Arthur S got the majority of shareholders on his side, and then fired Arthur T as CEO.....most likely - feeling quite triumphant....a gloating gloater.... And then the Whammy! The top employees protests - and they get fired too! then everyone is walking out! the customers even joining in the protest. I really wonder how Arthur S is feeling about his "big win" now. The fact that they are cousins - with the same name! Both named after the grandfather who started the business..... it is too much! It is right out of dynasty or all my children or something....if I saw it on the TV, I would have dismissed it as too contrived. Someone hasn't seen Big Fat Greek Wedding .... Nick, Nick, Nick, Nick, Nikki. The first boy is named after the paternal grandfather, 2nd after maternal one. Same with the girls. And don't think you can get original on your third boy/girl. They are named after family too. Aunt/Uncle or the masculine/fem form of one of the other grandparents who hasn't been used (see Nick/Nikki).
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Mardi Gras Audrey
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Post by Mardi Gras Audrey on Aug 1, 2014 16:18:33 GMT -5
Lena, I feel for you. I visited some relatives in upstate NH last year and was shocked at their lack of options. We stopped at Hannafords to pick up some stuff for them on the way up from the airport (Hannafords was ~30 miles away from their home). The prices were crazy! They got a MB that is only 45 min away (Yay, close enough to shop at!) and it had the potential to lower the grocery budget. If MB goes out of business, it is back to high prices... Coming from the CA suburbs, where grocery stores and low prices are ~every mile, it was quite the shocker...
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Post by Deleted on Aug 1, 2014 17:08:51 GMT -5
I wonder how the board member who switched her alliance from T to S is feeling about her decision to do so.....I haven't seen any mention in a devaluing of the company - but it is likely going to worth a bit less if this keeps up. Imagine getting a great new job as co-CEO - and then walking into this mess? Wonder if those people quit jobs for this new gig? and now their names are in international news with experts critiquing their missteps. With all the top level fired people - I wonder if in the absence of a resolution to bring them back - if they will create a new grocery store chain as competition....I think T has a bit of clout on ee and customer loyalty to get some serious financing there.... Still thinking about S: will greed lead him to resolve this with the best financial outcome for the family stakeholders.....or is this fuel to the fire - and he will dig in his heels and ride the company into the ground if need be for pride? “Revenge, at first though sweet, bitter, ere long, back on itself recoils” Last I read, she lives in England so she doesn't give 2 shits about it one way or the other. She just wants money. I'm still trying to figure out how it is good business to hire a CEO who has helped their last business (Radio Shack) go into the dumper. I saw somewhere this morning that they (said Radio Shack) are on their way out and co-CEO Gooch played a large part in that. Dumbasses. It's just a pain in the ass in general because MB is about 5000 feet away from my door but I have to drive to East Buttfuck to go to Shit and Shop. I won't even contemplate Shaw's. Only good thing is DH's employee discount is still active so we get 5% off.
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Value Buy
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Post by Value Buy on Aug 1, 2014 21:38:48 GMT -5
Well, even if the ousted cousin is able to buy the company out, it's over for the company. He will have to pay a premium for the shares he does not control, otherwise, another chain comes in and pays that price. If a buyout corp. or another chain buys it, the first memo will be, nothing will change. Six months later, it starts with the little changes....... It will never be back to normal. Third generation families always fragment the company after a couple of generations, unless you are the Rockefeller's. Then the government does it to you. If the ousted cousin buys them out, he will be forced to change the company dynamics and price structure to continue operations on his new cost basis.
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Opti
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Post by Opti on Aug 2, 2014 7:06:05 GMT -5
Found an article that suggests the outcome isn't going to be good. It appears Arthur S. might want to gut MB for short term financial gain.
www.cnn.com/2014/08/01/opinion/kohn-market-basket-protests/index.html
Full-time clerks start at $12 an hour. Cashiers with experience can earn over $40,000 a year. And managers can easily make into the six figures. Keep in mind that's in a nation where the average annual salary for grocery store cashiers is $21,370 and the national minimum wage is $7.25 per hour.
The company also has a generous retirement plan, matching 15% of annual salary to employee retirement funds. What's more, workers up and down the supply chain receive good bonuses throughout the year.
All this and Market Basket is affordable for customers, with prices regularly 10% to 20% lower than competitors. The company is profitable in an industry known for low profit margins, and has given $500 million in dividends to the nine family shareholders over the past decade.
So what happened? Well, the family board switched sides, ousted Arthur T. and installed his cousin Arthur S. Demoulas as president.
One of the first acts under Arthur S. was to distribute $250 million in profits to the nine family shareholders, what a Boston Globe editorial called "an uncharacteristic act of greed for a firm known for its generous treatment of its workers and concern for price-conscious shoppers."
There have been other ominous signs that Arthur S. and his allies plan to push profit at all costs -- at the expense of workers and the values of the company. And so in an unprecedented mobilization, managers and workers have protested at Market Baskets across New England, calling for their beloved CEO Artie T. to be reinstated
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