Can Someone break down the Market Basket situation for me?

[JSD]

From what I understand, corporate is trying to throw out or threw out the very popular CEO and now all hell is breaking loose. Why do they want him out so bad?

[slamdunk]

They didn't like him because he was generous to the employees. They wanted him to pay the employees as little as possible and raise prices so they could get larger profits for themselves.

[Future Celtics Owner]

I have not heard about this but I remember when he wrote an op ed about Obama care. people were trying to get him out for that.

[saltlover]

I have not heard about this but I remember when he wrote an op ed about Obama care. people were trying to get him out for that.

I think you're thinking of the Whole Foods CEO.

[saltlover]

My general understanding is that it is a family squabble between the Demoulas, as it has been for years.  Out of the area now, so I don't keep track any more, but that's what it's been as long as I can remember.

[hpantazo]

The CEO that they overthrew was generous to the employees and was very dedicated to ensuring the brand of the franchise as a supermarket with fresh products and low prices. His policies drove the success of the business, but the current stockholders are old, greedy, and impatient, thus they want to decrease benefits to the employees, decrease staff, and raise prices so that they can quickly squeeze whatever profits they can out of the consumers before they eventually sell the business and reap as much money as they can right away. They have no concern for the future of the company. This faction was lead by the former CEO's cousin, who basically profited off of his cousins success and was still jealous enough to try to overtake the company and kill it while profiting big time.

Unfortunately for them, Arthur Demoulas' policies and practices has build a very strong loyalty from both employees and customers, which is rare nowadays, and their movement to throw him out is backfiring big time.

[Kuberski33]

My guess is the new leadership is looking to raise profit margins (i.e. increase prices) in the short term, while cutting employee benefits - so they can get the chain looking as lean and profitable as possible before selling it to one of the big national chains. 

[celticdog]

The profit motive is happening.  Raise prices on consumers.  Exploit workers for profit, shrink benefits, destroy full time jobs in favor of "flexible" part time workers.

Some brave workers are resisting by slowing down their work flow. 

[JSD]

I hammered everyone in here with a TP. Thanks for the clearer understanding.

[Beat LA]

They didn't like him because he was generous to the employees. They wanted him to pay the employees as little as possible and raise prices so they could get larger profits for themselves.

Huh!?  How dare he (sarcasm)!?!?

[Beat LA]

I have not heard about this but I remember when he wrote an op ed about Obama care. people were trying to get him out for that.

I think you're thinking of the Whole Foods CEO.

Now that was hilarious

[JOMVP]

D

[JOMVP]

The profit motive is happening.  Raise prices on consumers.  Exploit workers for profit, shrink benefits, destroy full time jobs in favor of "flexible" part time workers.

Same thing is happening at Target right now. Won't be long till you hear some rumblings in the news about unhappy employees there.

[Beat LA]

The CEO that they overthrew was generous to the employees and was very dedicated to ensuring the brand of the franchise as a supermarket with fresh products and low prices. His policies drove the success of the business, but the current stockholders are old, greedy, and impatient, thus they want to decrease benefits to the employees, decrease staff, and raise prices so that they can quickly squeeze whatever profits they can out of the consumers before they eventually sell the business and reap as much money as they can right away. They have no concern for the future of the company. This faction was lead by the former CEO's cousin, who basically profited off of his cousins success and was still jealous enough to try to overtake the company and kill it while profiting big time.

Unfortunately for them, Arthur Demoulas' policies and practices has build a very strong loyalty from both employees and customers, which is rare nowadays, and their movement to throw him out is backfiring big time.

Well imagine that - a CEO showing loyalty to his workers, who then show him and the company that same loyalty.  What a concept (sarcasm).

[Beat LA]

The profit motive is happening.  Raise prices on consumers.  Exploit workers for profit, shrink benefits, destroy full time jobs in favor of "flexible" part time workers.

Some brave workers are resisting by slowing down their work flow.

Ah yes, who doesn't love the cutthroat nature of business (sarcasm)?  I really hate that Edited.  Profanity and masked profanity are against forum rules and may result in discipline..