Market Basket is the 127th largest private company in the country according to Forbes, with revenues of $4.6 billion in 2013. They provide a great shopping experience at the best prices around. Yo-play yogurt may be 5 for $1 at Market Basket while that same product may cost $1.50 EACH at Shaws or Stop and Shop. The family has built a powerhouse. Now a restructured Board of Directors has ousted the beloved CEO Arthur T Demoulas because he fought against price increases. Two new CEOs were brought in and plans are to double prices across the board. Top level executives with over 280 years of experience at the company were fired for standing up for customer rights and against price increases. Now in an unprecedented show of unity, Market Baskets 25,000 non-unionized employees are rallying against corporate greed. If you care about doing the right thing and dismissing corporate greed you should care about this story. The only way Market Basket survives and continues to offer the same prices is if Artie T is brought back as CEO. This is getting messy but I think right will prevail. 38 elected representatives of MA, NH, RI, and ME have already sided against the board and with the customers. Numerous law firms and unions have offered free legal work to the wrongfully fired employees. Support the local community and support Market Basket. Theyll be talking about this one day in business school case studies... #marketbasket #savemarketbasket #bringbackartie
Posted on: Tue, 22 Jul 2014 14:28:21 +0000