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The Epic Saga of Market Basket
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jducoeur
h/t to folks over in DSLJ for the pointers to the two-part account in the Gloucester Clam about the incredibly messed-up history of the past century of the Demoulas family, and why Market Basket currently doesn't have any produce on the shelves. Here are part one, and part two.

It's worth reading, but here's the summary, as best I understand it: the once-"bad" side of the family wound up producing an unusually decent CEO, who has just been ousted by the formerly-screwed side of the family (who appear to resent the fact that he has been putting employees' interests over their recently-won profits). The employees are quite seriously up in arms, and the result is, ironically, that the most dramatic labor action in recent local memory is happening in a non-union shop...

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(Deleted comment)
(Deleted comment)
In addition to blowing potential profits on things like profit-sharing and employee-benefits, another of the reasons the George side of the family ousted Arthur T. was that they felt that he wasn't raising Market Basket's prices enough compared to their competitors (e.g. S&S, Shaw's, Hannaford, etc.) and was therefore losing yet more potential profits.

Of course, almost everyone I know who shops at MB, does so specifically because MB's prices are lower than nearby competitors. Given the ill will that all this is causing, the current lack of food on MB shelves, and the potential that MB will screw over its employees _and_ raise its prices, all of which could drive a fair chunk of their customers away, I can't really see a scenario in which the current management wins this battle.

Thanks for summing it up. I'd been seeing the commotion but didn't understand what was going on.

And now Good Guy has offered to buy the company from Bad Guys.

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