Let’s put aside the latest setback in the court and focus on what we know to be true:
There is not an ounce of independence in the “Independent” directors.
They have marching orders to enhance shareholder value in all aspects of the company. They will do this by raising prices, taking on debt, drawing regular distributions of profits to shareholders and selling off assets probably in the form of real estate holdings.
They will alter the Profit Sharing plan and bonuses.
They will alter compensation so that it is in line with what other companies pay.
They will surely change our health care program to one that is more “profitable” to the shareholders.
They will fire Arthur T. Demoulas and his executive team at some point.
They will destroy this company.
They certainly would argue with us that they are not looking to do any of these things, but we have ruled them to be guilty on all counts. They will misinform us, they will outright lie to us, they will disrespect us and they will continue their pillage through our company despite what they say or what their BS website says. How do we know these things? Because that is all they have done for eight months and if we think they are going to have a sudden change of heart we are fooling ourselves.
There is one huge factor that they neither accounted for nor can they do anything about and that is the people, the stakeholders of Market Basket, the associates, customers, vendors and contractors that all make their living or save money by shopping and working at Market Basket. We are a company that has never had a reason for a union because unions, in almost all cases, are formed to protect workers from management taking advantage of them. We, however, have a different kind of union that doesn’t exist anywhere else that we are aware of. We don’t pay dues and we don’t slam management. We are simply stakeholders of Market Basket that will mobilize, if needed, to support the current management of our company and the current status quo of our associates compensation and benefits. We know with ATD at the helm, unshackled, we will continue to prosper.
We all feel comfort that despite being handcuffed, ATD is still in the CEO chair and still fighting for us every step of the way. What happens if he and his executive team is fired? The BOD will bring in an executive team from the outside (this team is probably already in place to take over) that doesn’t know us or our culture and they will become the “A” shareholders and BOD puppets to do all of things mentioned above.
We cannot allow this to happen and if it does we need to be ready to react immediately. If you have a twitter account please follow @WeAreMBasket, if you don’t have a twitter account we suggest you sign up for one, it’s free and follow our twitter account. We will use this twitter account to update everyone following us about critical developments and to keep you informed and updated as quickly as possible.
United with ATD We Stand, say your prayers and keep your fingers crossed tomorrow, none of us wants to do what this Board may force us to do, be it tomorrow or anytime in the future.
We, Together, Are Market Basket