“John Sevastis is a veteran Store Director and has been a very vocal force at rallies and on social media since July. John’s no nonsense style comes out in this post, thank you John for everything you have done and for being a leader in this battle.”
What has happened since 7/18/13.
1.ASD complained that the company had to much cash on hand. 300 million went to shareholders.
2.Removed 2of 3 trustees of the profit sharing plan.
3.Fired the accounting firm we had for 60 years. (Probably replace with Weiners firm.)
4.Establish a credit facility. (Probably Ten Mountain Capital, ASD’s company.)
5.Hire a search firm to find replacement for ATD. Already spent 300,000 dollars.
These moves are deliberate and calculated, as the free market rewards smart moves, it quickly punishes foolish ones.
The problem here is not greed, people are always looking for their own self interest, the problem is stupidity in not realizing their moves will produce the result opposite of what they want.
We have a successful company, no debt, loyal and dedicated associates and managed to be profitable in a bad economy, from 2008 to now.
Do the Board of Directors think that success happens on its own? You want to replace senior management (with 300 years of service) and panic the workforce and expect the good times to continue as if there were no other supermarkets in the area?
What will happen when you raise prices?
What happens when employees decide it’s not worth staying… unless ATD is in charge.
We are nearing 100 years in 2017.This company was started when the US entered World War 1, and here we are fighting for our livelihood, and for a man called ATD. T stands TRUST.
BOD knows me as #10084.
ATD knows me as John Sevastis,married with two daughters and 37 years of service.