Can Someone break down the Market Basket situation for me?

[boscel33]

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.

Isn't it the duty of the board to ensure the company is as profitable as it can?  Shareholders first.  Seems I recall that from my business classes.

[Roy H.]

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.

Isn't it the duty of the board to ensure the company is as profitable as it can?  Shareholders first.  Seems I recall that from my business classes.

There's definitely a fiduciary duty to shareholders, although it seems like the two sides have different philosophies in how to achieve that goal.  One side is arguing for lower prices and rapid expansion, without taking on debt; the other side is allegedly raising prices, adding debt, and slowing down the growth of new stores.  Either one could be argued to be in the best interest of the shareholders:  increased short-term profits that potentially harm the brand aren't necessarily in the best interest of the store.

[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.

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

Now that was hilarious

Yes I was thinking about the Whole Foods CEO.

[aingefan]

This is why we need socialism.

[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.

Isn't it the duty of the board to ensure the company is as profitable as it can?  Shareholders first.  Seems I recall that from my business classes.

Yes, I suppose that is standard education in business schools. 

However I think that if shareholders should act in their own interests workers should do the same and organize for better treatment.