Costco is an example that paying people well can result in higher profits.

Loyalty is priceless imo.

It's a similar model to the one employed by Henry Ford who wanted his employees to buy cars.

Quality comes at a price. The quality of people you'll get a $8 an hour versus $11 is amazing. Having good quality employees typically translates into better profits because want to work hard to actually keep their job. It's not just another low paying crap job they can easily find somewhere else.

So just a recap of today's events....
--we continued protesting
--they didn't care
--8 fired execs filed a lawsuit(good for them)
--Gooch & Felicia didn't pay middle management and threatened not to if they didn't return to work on Monday.
--a bulletin went to all stores telling them basically to cut payroll

them not paying middle managers and the demand for a return to work on Monday.
P.S. Keep the updates coming please.

have golden parachute contracts? If they do, that, and the fact such creatures hate humans, could explain why they'd be willing to destroy the company rather than lose.

People who are not interested just won't read this. For those of us who are: thank you for keeping us informed.

This is a very important story and I appreciate all the updates.

It's important the people know how the corporate game is played and how it affects employees and customers. Market Basket is a perfect example of greed gone wild.

Glad he and others are keeping this story in the forefront.

Because IMO that's what's going to happen next. Market Basket will either file for Bankruptcy, or they'll take a buyout from a competitor, and bam no more Market Basket. The Stockholders will be fine getting big bucks for their shares, or even getting shares in the buying chain. Perhaps both now that I think about it. Then the employees. They'll be starting over, if they still have jobs, at the competitors stores. Some will close, too close to the competitor, some will stay open with new signs and smocks for the employees.

The CEO you all want out has a contract, and the company will go bankrupt if they pay the early termination fee that is standard in those things. So selling the chain lock, stock, and barrel is probably the only choice left. All the strike/boycott is doing at this point is making the sale price drop like the proverbial rock. The CEO that is hated will get a couple million in a severance package. Then he'll be off to do the same thing to another company.

How many times have we seen this kind of thing happen? Here in town the Piggly Wiggly grocery stores just got bought out by Bi Lo. Harvey's which was a subsidiary of Food Lion was just spun off to someone else, not sure who. Perhaps Bi-Lo too. Ken's IGA was bought by Piggly Wiggly. Yes, they sold one store, and bought a smaller more rural one. This isn't over five years, this is literally since the first of the year here in Savannah Georgia. My favorite Japanese Restaurant near work has had four different owners in five years. Same name, new owners. Same menus. I got friendly with the last manager, a young man from New Jersey, and he ran it for about fourteen months. The only change they made? They quit serving Japanese Beer and Saki. New owners have applied for a liquor license to bring back the Japanese beer and saki.

Market Garden as a brand is so damaged now that there is no coming back. So expect to see the signs all change at your local store, new company writing the checks, new policies that are probably no better, and the employees won't be better off. That is unless Market Garden can't find a buyer, in which case the stores will just close.

The CEO that everyone wants out is not someone they just hired to be CEO, he is CEO because he's a large stockholder, nothing more. He is the cousin of the ousted CEO and persuaded other relatives to go his way out of a desire to liquidate the company.

How many times have we seen this kind of thing happen? NEVER.

There has never been a situation quite like this where the employees of an entire company wanted an ousted CEO back, as did the entire community where the company operates.

I'm going to guess that you don't live in New England and really have no familiarity with the company, the people involved or the background story. Considering you refer to the store as "Market Garden," I'm pretty sure I'm correct on all counts.

Please name another situation where the CEO of a company cared so much for his employees that he insisted that the company make up for a $46m loss in the employee-profit sharing and actually replace those funds so the employees would not suffer such a loss. There's a reason the employees want him back.

Here's what will happen: If they reinstate Arthur T. or sell the company to him, the company will move forward and be more successful than it was before. If they do not, the company will fold, stores will close, many of their customers will shop elsewhere and they will never recover.

Nobody in their right mind would buy the Market Basket name now that was not willing to put Arthur T. in charge.

I live within a few miles of 3 Market Baskets. You can hear the cheering & car horns from blocks away. I haven't talked to one person who does not support the workers and Artie T. I truly believe something positive will come of this, if only that other workers across America realize what power they have.

They are great places, and the public support is amazing.

Although I live in the "red belt" (and long to live in New England) I am absolutely riveted to this story. Thanks for keeping us posted, graywarrior. If you get the chance, please let the good people protesting know that thousands of us who've never seen a Market Basket are with them in spirit and are cheering them on.

K&R

I can't imagine the empty parking lots, they were always jammed.

either the board will cave to Arthur (not likely), bankruptcy, or buyout from competitor.

There are so many people still wanting to believe in the "American Dream", wanting folks to "play nice" and have a kinder, gentler capitalism. Sadly this is very much like the "compassionate conservatism" that the republicans tried to sell a couple of decades ago. Simply impossible given the structures we are dealing with.

They'll get almost nothing in bankruptcy (common stock isn't secured) and not much better selling an unprofitable company in a forced sale. It will probably mean they've lost most or all of the value of their investment.

on the Market Basket Squabble

http://gloucesterclam.com/2014/07/21/clamsplainer-market-baskets-storied-history-of-crazy/

http://gloucesterclam.com/2014/07/22/clamsplainer-market-basket-is-freakin-out/

http://gloucesterclam.com/2014/07/30/clamsplainers-market-basket-update-this-shits-like-the-titanic/comment-page-1/

Mayor Dana Hilliard
Proclamation issued today:

RECOGNIZING AND SUPPORTING MARKET BASKET EMPLOYEES FOR THE REINSTATEMENT OF ARTHUR T DEMOULAS

WHEREAS, Market Basket in Somersworth is an important business to the City of Somersworth and,

WHERAS: Market Basket employees are advocating for the reinstatement of Arthur T DeMoulas as Chief Executive Officer of Market Basket and

WHEREAS: Many of Market Basket’s employees reside in the city of Somersworth and believe that Arthur T DeMoulas will keep Market Basket’s wages and benefits consistent with employees expectations and WHEREAS: Jobs that compensate workers will continue to move our community forward and instill better quality of life for all.

NOW, THEREFORE, I, Dana S. Hilliard, Mayor of the City of Somersworth, New Hampshire, on behalf of the Somersworth City Council, do hereby extend my best wishes and my full support to the employees of Market Basket, and hereby proclaim Saturday, August 2nd and Sunday, August 3rd as “Market Basket Employee Day”. We wish them success in their endeavor to reinstate Arthur T. DeMoulas as the CEO of Market Basket.

and the city council!

I'm so hoping this has a happy ending.

support the workers in their protest.
I have 2 MB's withing driving distance and have found it difficult to shop without access to the stores. My options are our local, very expensive markets or Whole Foods. Yikes.

MB has made a great effort to keep their prices at a level that is far less than the competition. I applaud them for this and hope this protest and disruption is settled soon. It is not only the employees with something at stake here. It is also of great importance to the customers.

For $8, I walked out of there with 2 large bags of produce....fresh, from Haymarket Square.