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If you shop at and like Market Basket, please read

Discussion in 'Off-Topic' started by Acme.Armament, Jul 15, 2013.

  1. WatchCityCPA

    WatchCityCPA

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    Thank you for unintentionally making my point - this is EXACTLY what I said... the number of supporters does not prove a cause to be right.

    So what is that I should give up?
     
  2. Golddiggie

    Golddiggie NES Member

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    Just saying:
     
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  3. Nick Fury

    Nick Fury

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    Nothing actually. It would be a one sided conversation without you.
     
  4. Nick Fury

    Nick Fury

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    This has been alluded to in a few previous postings but I will be the one to say it:

    ATD and Co. are clearly no saints when it comes to dealing with part of the family.

    His father built the foundation of MB into what it is today. Most likely with other peoples money.

    Artie T. shows the same business practices with his financial moves within the company.

    Yet this dirtbag ends up being a champion of the people. Kind of like an Afghan warlord. How he got and retained power is not pretty but by doing so the tribes that follow him benefit greatly.

    Accountants and capitalists struggle with the formula because it is not found in a text book. It is an unpredictable equation.

    So I have no illusions about my support. It is strictly one of personal benefit. As it is for every other member of the tribe.
     
    2 people like this.
  5. PaulD

    PaulD

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    You haven't been paying attention to the whole story if that's what you think.

    As a side note, I went to S&S last night with my wife and daughter. I dropped them off and went to get gas and when I got back, I noticed an employee walking out to his car. The car had a RI plate on it and I don't live anywhere near RI. It would seem S&S is completely overwhelmed.
     
    Last edited: Aug 11, 2014
  6. dessert1st

    dessert1st

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    A friend of mine's cousin bought Pats tickets off somebody on Craigslist. She asked if my friend and I could come with her to meet this guy (cuz Craigslist).

    Turned out to be a really nice guy who was a manager at the MB near us. Got to hear his side of the story and how badly this whole thing has screwed him and his family. I was getting real frustrated with the whole situation from a consumer's standpoint but hearing his story really moved me and convinced me to keep my little boycott going. As soon as people slowly start getting sick of this all and start shopping there again, this whole operation will end.

    - - - Updated - - -

    I've talked to some $&$ employees as well as Shaws. They are bringing in employees from all over and putting them up in hotels. They get allocated for a week, then return home. It's a revolving door of transplants.
     
  7. PaulD

    PaulD

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    That's another aspect of this that makes it quite unique. It's not managers vs. workers. It's all of the employees (managers, workers, full-time, part-time) against the owners.
     
  8. Nick Fury

    Nick Fury

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    First and foremost I am pro Market Basket. I love the business model. I enjoy seeing people with 10-20+ years of service bend over backwards to help me. So please direct me to the publicly accessible parts I may have missed. Because to date all I have seen is one screw story after another.

    I would love to hear another version of what happened to the money that ASD's family was seemingly entitled to after pops death. The method used to squeeze out the freeloading half of the family was not the fairest and it backfired. Would another way been more effective? Probably not. But to dismiss it as not being one of the reasons for what is going on today is very short sighted. Or incredibly biased. Take your pick.
     
  9. WatchCityCPA

    WatchCityCPA

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    FTFY
     
  10. PaulD

    PaulD

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    You can read some of the other posts I've made in this thread, for one. However, I bolded the part where you said "other people's money". ATD's side had plenty of money in the game (~50%). The company grew over the years by self financing while continuing to pay out some level of dividends to the share holders. Any thefts that may or may not have happened only affected the number of share holders as the business was already well under way when any of that happened.
     
  11. Nick Fury

    Nick Fury

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    I have read your posts. All of them. They allude to insider information. My comment about "other peoples money" was entirely directed at the 50% not held by ATD. Was the original lawsuit not about liquidation of this without knowledge or consent?

    Unlike some I make no illusions when it comes to giants fighting. They didn't get big by playing nice with everyone...
     
  12. silversquirrel

    silversquirrel NES Member

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    After filling in groceries at S$S and Shaws this past week, I am tempted to hit MB for whatever dry goods / non perishables I might need. I am 100 pct behind the employees and their cause. But my personal cause is not wasting money, and stretching the monthly budget.

    If I feel like spreading the wealth (what there is of it, not much these days) for the greater good I up my monthly donation to St. Judes Childrens Hospital.
     
  13. PaulD

    PaulD

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    The original lawsuit was about, essentially, Mike D (ATD's dad) stealing that 50% from the other side of the family. I'll restate what I said in, hopefully, a more clear manner.

    When the alleged theft happened, the business was already well established and a self sustaining, growing entity. The growth was financed through company revenue/profits and not by asking/taking money from the shareholders. The lawsuit was all about who owned the company and I think it was "built with other people's money", even if you take the details of the lawsuit as being accurate and truthful.

    You are correct though that ASD's side didn't do much of anything in terms of actually running the business, though his father was more involved in the early days.
     
  14. Cowgirlup

    Cowgirlup NES Member

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    And customers! When did you ever see people refuse to shop someplace in support of something like this? That is part of why some items that could be shipped to stores are not being stocked. They know most customers won't be showing up to buy anything.
     
  15. Buggin

    Buggin Dealer NES Member

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    This.
    But the naysayers claim it's just lack of inventory. [rolleyes]
     
  16. dennism

    dennism

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    It is. Without the warehouse and management's support mb would be at 100%

    If market basket did not own it's distribution network and instead contracted out they would be operating normally.
     
    Last edited: Aug 11, 2014
  17. Buggin

    Buggin Dealer NES Member

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    I doubt that seriously.
    It wont be the ghost town it is now, but nothing like it was.
     
  18. dennism

    dennism

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    People like to talk about how much they like to stand up to greed and all that bs but rarely do it. If it wasn't forced by management and distribution defection they would still be shopping there.
     
    Last edited: Aug 11, 2014
  19. Buggin

    Buggin Dealer NES Member

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    Again, time will tell.
    If ASD takes over, the lower prices will go away, thus not giving folks a reason to go out of their way to go there.
    I believe quality will go down as well as employee moral and will have a domino effect on the overall "feel" of the stores.

    If things stayed the same, you're probably right. There will be a few people that will stick to their principles, but not enough to notice.

    I have a Super walmart, hannafords, and a shaws all within ten minutes of each other. The only reason I'll hit MB is if I can't get
    what I need anywhere else.
     
    Last edited: Aug 11, 2014
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  20. dennism

    dennism

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    You make statements about their business plan like you have some sort of authority behind it. A company whose formula has worked well and made shareholders money is not going to change its business strategy overnight. Companies change ceos regularly so what?

    People don't shop at market basket for the atmosphere they do it for the prices. That's why they are based in cheap land areas.
     
  21. silversquirrel

    silversquirrel NES Member

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    ASD and his side were never interested in being in the Grocery Store Business... They have spent the last 20 years trying to figure out how to squeeze every last nickel out of their rightful inheritance (front their point of view) and live the life of the cultured and elite well heeled they deserve. They now see light at the end of the bank vault tunnel, and are salivating at the big payoff.

    It sounds like the sticking point with selling out to the Artie T side is that the ASD side is trying to keep their little toe in the pool in case of any future growth or profit they could potentially grab.

    It wouldnt surprise me if they wanted "royalties" based on FUTURE profits. Thus the attempt at controlling the financing of the buyout.
     
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  22. PaulD

    PaulD

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    That seems like a good read of the situation.
     
  23. Buggin

    Buggin Dealer NES Member

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    And you speak as though you know everyone is as similar a spineless jelly fish.

    Greed is greed. The business plan will change because they have already shown what drives them.
    ATD has shown otherwise in actions and in the eyes of his employees.
    None of us knows for sure.
     
  24. rjh200

    rjh200

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    Restock the perishables and 50% of the customers would be back tomorrow. Some reports I have heard is that traffic has picked up in some stores and some folks are doing exactly as silversquirrel stated above. For most people resolve only goes as far as the budget allows. Look at any of the boycott threads here for evidence.
     
  25. Cowgirlup

    Cowgirlup NES Member

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    As I understand it from someone who works there they could have more inventory of items delivered directly from companies like Hood milk but those companies have been told not to send much inventory because they know there won't be many customers. I haven't set foot in one of the stores since the day before it happened. I know a lot of people are supporting the employees. Just like many people won't shop Walmart on principle.


    I might be one of the few people saving money in the short term. I usually shop the sale flyer for items to stock up on and end up with a lot of junk food and impulse buys.

    Since it's summer I get veggies from the garden, eggs from the chickens. We don't use a lot of dairy products so this hasn't been too painful yet.
     
    Last edited: Aug 11, 2014
  26. dennism

    dennism

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    Pursuit of profit drives every single retailer in the market.
     
  27. Buggin

    Buggin Dealer NES Member

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    You think? [shocked]
    You're not even listening to yourself [rolleyes]
     
  28. soloman02

    soloman02 NES Member

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    1 person likes this.
  29. Cowgirlup

    Cowgirlup NES Member

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    Every company wants to be profitable. No shame in that. That's the whole point of any business, to make money.

    There is a difference between a greedy company and one that wants to be profitable. No one wants to work for an unprofitable company because it will soon go out of business. People rarely like working for a greedy company because profits usually come at the expense of employees pay and benefits.

    The difference is seen in how they treat their employees and do business as a whole.
     
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  30. strangenh

    strangenh NES Member

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    Good article. The money quote from the 'A' shareholders:
    Yeah, they offered to do a leveraged buyout, with themselves walking off with more money, leaving the company with a loan it will be barely able to service. You betcha. 1980s LBO. Anyone remember Seaman Furniture? I wonder if the A Shareholders' "nationally recognized financial advisors" is KKR.
     

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