Arthur T. Demoulas
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?
A petition signed by managers and assistant managers of 68 of the 71 New England stores warns that they will immediately resign if CEO Arthur T. Demoulas is not restored “with full authority.”
As the battle over Market Basket enters another week, there appears to be no sign of it coming to an end.
Workers are demanding no less than the return of ousted CEO Arthur T. Demoulas, who was fired last month by a board controlled by his cousin, Arthur S. Demoulas.
“We have drawn our line in the stand stating that we will work for no other CEO and that other potential buyers should take pause and give serious thought to pulling their offers,” according to a post on the Save Market Basket Facebook page.
Market Basket associates and customers calling for the return of ousted CEO Arthur T. DeMoulas said on Saturday that their demand is non-negotiable, even if the company is sold.
The owners of Market Basket met in Boston to discuss the workers’ revolt and an offer to buy the supermarket chain from a fired CEO.
Arthur T. Demoulas said in a statement that he and his side of the family want to buy the 50.5 percent of the company now controlled by relatives who backed his firing last month.
The former CEO of Market Basket says he will make an offer to buy the Market Basket supermarket chain.
In a statement provided to the Boston Globe and the Lowell Sun, Arthur T. Demoulas said he and his side of the family will try to buy the 50.5% of the company owned by other relatives who forced him out as CEO last month.
Market Basket protesters plan to hold their final rally on Friday in Tewksbury, according to group organizers.
A supermarket industry analyst says if management can’t get it together fast, the company is in big trouble.
Picketers aren’t stopping shoppers outside several local Market Basket supermarkets, but the empty shelves inside are driving many away.