BOSTON (CBS) – The local news story of the summer is, hands down, the saga of Market Basket, the regional supermarket chain that’s been brought to its knees by employees and customers angry over the firing of a beloved CEO and some of his top managers.
My colleagues at cbsboston.com say any new wrinkle in the story immediately jumps to the top of our “most-read stories” list.
And no wonder.
The Market Basket meltdown raises a crucial question for the ruling classes of our economy that’s been on the minds of millions of Americans for some time now – what on Earth are you thinking?
Whatever his shortcomings, deposed CEO Arthur T. DeMoulas has clearly been giving Market Basket’s amazingly-loyal workers and customers what they want – respect, appreciation, decent wages, and the opportunity for advancement for the employees, price breaks and good service for the customers.
Don’t take my word for it, check out the comments by current and former employees online, they’re almost entirely positive.
And the result has been strong growth and profits for Market Basket’s owners, just like other companies such as Costco that follow a similar customer- and worker-friendly blueprint.
So why would you run a business any other way?
Why do too many businesses bleed their employees, disrespect their customers, and laugh about it on their way to the bank?
The Market Basket revolt, notably occurring in a non-union company, is a giant warning shot across the bow of Scrooges everywhere.
What are the odds they’ll hear it?
Listen to Jon’s commentary: