If you haven’t noticed, after a relatively quiet first quarter, things have heated up significantly in the past couple of weeks. Lawsuits have been filed back and forth with ASD and his minions filing a law suit to require Bill Shea and Terry Carleton to appear at board meetings for a quorum even though they have been shut out of all communication with this “independent board”. Pillsbury Development has filed suit against DSM for breach of contract for negating a deal made in 2011 with the old board.
If these allegations are to be believed, and why wouldn’t we believe them, this laughably independent board has set out on ASD’s agenda of stripping everything of value from our company to line their own pockets. According to these lawsuits the “A” side wants to strip the company of the remaining cash reserves which will force the company to get a line of credit just for operating expenses. Even more damaging then going into debt the “A” side apparently wants to liquidate company assets starting with real estate. This has been their game plan all along, if they are allowed to strip the cash from the business and then sell all of the real estate we will be a company in debt who will be paying rent. These two things are at the heart of our company and how we are able to offer exceptional value while remaining profitable. Cowan, Weiner and Gebaide have no shame but have plenty of the blame for the possible destruction of one of the best run companies in this country.
We, the stakeholders of Market Basket, cannot sit around and wait for this to happen. We must stand ready to act at the first indication that they are stripping cash or selling real estate.
We, as ONE, are Market Basket