Mr. Jim Miamis

Mr. Jim Miamis, Executive Vice President, retired this morning after 71 years of service.

71 years…he started in 1945.

Simple words cannot express the sentiments so many of us share towards this man and the influence he has had on us. He set the pace in every way imaginable be it at work or at play. Thousands of associates consider him their mentor and many more consider him their friend. Tough but always fair, he is the epitome of why so many are so loyal to the company.

We wish him nothing but the best that life has to offer as he leaves. We thank him for being an integral part of the foundation on which this company was built and we salute him for the wonderful man he is.

Tonight let’s raise a glass to Jim (Metaxa if you have it) and say yamas!

If you have a story or memory to share, please do so.

 

The Executive Club

Jim Gooch has been named Executive Vice President, Chief Operating Officer and Chief Financial Officer of Lands’ End.
 
It’s a sad statement of the business world today when a person who failed so miserably is rewarded so handsomely. Jim Gooch was co-CEO of Market Basket during the work stoppage and customer boycott of 2014. Jim Gooch was on board with a plan to change the culture of one of America’s great companies in order to satisfy the greed of a few shareholders. Jim Gooch came into Market Basket fully aware of what was to be asked of him and he did not care to think of the consequences of his actions. He did not care to think that thousands of New Englanders would be adversely affected once he stepped into the building. But he’s in the Executive Club, where failure is not a career killer. The club which protects its own, stakeholders be damned.
 
We wish good luck to the people of Lands’ End. We’ve always been fond of their competitor LL Bean as there’s something about privately owned New England companies that has a certain appeal.
 
Follow the link below and read to the bottom where all of the pertinent contact information will be for you to call or email so you can let them know what you think of their new man.
 
http://www.einnews.com/pr_news/308708630/lands-end-names-james-gooch-evp-chief-operating-officer-and-chief-financial-officer
 

Catching Up with The Gooch

After writing about the news of Felicia’s new employment with 99 Stores Only, we thought we’d catch up with her cohort, Jim Gooch. Others may have already uncovered this, but it was news to us (or maybe we’d purged it from our memory) to learn that he’s been on the Board of Directors for Sears Hometown and Outlet Stores (NASDAQ: SHOS) since the spring of 2013. As a member of the Board, Jim serves as the Chair of both the audit and compensation committees.

A quick glance at the stock’s performance shows that upon naming him to the board, SHOS quickly reached an all-time high of $56.62. Today the price sits at just under $9.

Reminds us of another company whose stock price nosedived in a similar trajectory: Radio Shack

 

 

 

 

Catching Up with Felicia

I have been impressed by 99 Cents Only’s commitment to delivering value to their customers and appreciate the opportunity to join this organization and find new ways to enhance value for all stakeholders. – Felicia Thornton, November 2015 upon joining 99 Cents Only Stores

Alberstons is a great company with strong core fundamentals and tremendous market potential. I look forward to working with Larry and his new management team as we drive the company forward and maximize value for our customers, associates and shareholders. – Felicia Thornton, August 2001 upon joining Albertsons

Albertson’s is a great company with strong core fundamentals and tremendous market potential. I look forward to working with Larry and his new leadership team as we drive the company forward and maximize value for our customers, associates and shareholders. – See more at: http://www.progressivegrocer.com/research-data/market-trends/albertsons-names-industry-veteran-felicia-d-thornton-executive-vp-and-chief-financial-officer?nopaging=1#sthash.KvKrr92i.dpuf

 

Albertson’s is a great company with strong core fundamentals and tremendous market potential. I look forward to working with Larry and his new leadership team as we drive the company forward and maximize value for our customers, associates and shareholders. – See more at: http://www.progressivegrocer.com/research-data/market-trends/albertsons-names-industry-veteran-felicia-d-thornton-executive-vp-and-chief-financial-officer?nopaging=1#sthash.KvKrr92i.dpuf
Albertson’s is a great company with strong core fundamentals and tremendous market potential. I look forward to working with Larry and his new leadership team as we drive the company forward and maximize value for our customers, associates and shareholders. – See more at: http://www.progressivegrocer.com/research-data/market-trends/albertsons-names-industry-veteran-felicia-d-thornton-executive-vp-and-chief-financial-officer?nopaging=1#sthash.KvKrr92i.dpuf

The last we saw or heard of Felicia Thornton was last December when she left Market Basket headquarters for the final time. She and co-CEO Jim Gooch, along with the three mercenaries independent board members, Keith Cowan, Ron Weiner and Eric Gebaide, all left town after being defeated by the stakeholders in their endeavors to destroy this great company. All five of them will be forever linked together. Together they will reside in history as having provoked the masses to conceive and carry out one of the greatest business stories of our time. Despite the fact that they enriched themselves along the way, they were unmitigated failures in their jobs.

We promised that we would keep an eye on them and let the world know who and what they are so that they could not move on to another company where they might inflict more harm. Unfortunately, we failed on that end. Now Felicia has landed her new role as Chief Financial Officer and Treasurer at a chain in the Southwest called 99 Cents Only Stores. While in the quote above she mentions that she looks forward to enhancing value of all stakeholders, her track record shows that stakeholders tend to be the victims of her policies.

At Albertsons, Felicia was part of a team which positioned the company for its eventual sale to SuperValu for $17.7 billion. Along the way, she treated the stakeholders to such values as layoffs and shuttered stores. She walked away with tremendous value of her own in the form of a $17 million golden parachute.

Next she came to Market Basket and we all know what she tried to do here. Despite her attempts to calm the fears of stakeholders she only inflamed them. She threatened all of us. She would have been the perfect CEO for Arthur S. Demoulas had we not all told her to her face that we were not going to take it. We don’t know for certain what she was paid for her utter failure of a tenure but rumors have it to have been in the millions. Nice little club she’s in…

Now she has moved on to a new victim, 99 Cents Only Stores. We sympathize with all of those who stand in the path of hurricane Felicia as she starts to churn. We write this now in the hopes that you wake up to the threat that she might be to your jobs. Keep an eye on her and do what you can to keep her in check or else, before you know it, she’ll be waltzing off back to the Pacific Northwest with another fat payday at your expense.

We encourage followers of We Are Market Basket to check out their company’s page on Face Book and perhaps start to sound the alarm in the form of comments. https://www.facebook.com/99CentsOnly/?fref=ts

Let’s be sure that Felicia knows we are watching her.

 

Albertson’s is a great company with strong core fundamentals and tremendous market potential. I look forward to working with Larry and his new leadership team as we drive the company forward and maximize value for our customers, associates and shareholders. – See more at: http://www.progressivegrocer.com/research-data/market-trends/albertsons-names-industry-veteran-felicia-d-thornton-executive-vp-and-chief-financial-officer?nopaging=1#sthash.KvKrr92i.dpuf

Mini Documentary at NYTimes.com

We have heard countless stories over the past couple of years regarding how we all consider ourselves part of a wonderful family at Market Basket. The caring ways of TA Demoulas have passed not only to his children – Arthur T, Frannie, Glorianne and Caren – they also reside within the DNA of the company. One story that brought this to life was that of the McCarthy family and what they went through a few years back.

Get some tissues and enjoy…

http://www.nytimes.com/interactive/2015/09/19/business/smallbusiness/entrepreneurship-lessons-family-business.html?_r=0

Joseph Rockwell, VP Grocery Operations Retires

As many of you may already know, Joe Rockwell, VP of Grocery Operations, has retired effective this past Friday. Very few people knew of his plans until the last minute because that is the way Joe wanted to go out, with as little fanfare and attention to him as possible.

You may remember Joe as being one of the men fired on June 23, 2014 along with ATD. Joe has contacted us and asked us to post a sincere thank you to all of the MB stakeholders for their help and support throughout the nearly five decades of his association with MB. He has received many phone calls and comments on other FB pages and the general theme seems to be that people wanted a chance to say goodbye. Joe asked us to tell you all that he will still be around and in fact has plans to go to every store and warehouse facility over the course of several weeks. So everyone will be able to tell Joe face to face what he means to them and how much they will miss him as well as wish him a happy and healthy retirement that he deserves.

An Economic Perspective

As we celebrate all that was accomplished last summer by associates, customers and vendors in our victory over greedy shareholders and their unscrupulous, tone deaf board members, we wanted to take a minute and look at a very significant byproduct of our efforts.

As has been reported recently, our shoppers pay on average 15.9% less by shopping with us versus our competitors. Part of our jobs day in and day out is to know what our competitors are up to and to be aware of their pricing. Our two most prevalent competitors, Stop & Shop and Hannafords, engage in zone pricing which we see in our travels and as we survey their circulars (Hannaford has front page chicken breast at $1.99 in North Conway, $1.77 in Lowell). If you travel to the Cape, live in central or western MA or up in the North Conway region, you pay much more for your groceries by shopping with them than the 16% difference here in MB Country.

Now let’s think back to last summer…

As we all remember, Hannaford’s parent company, Delhaize, was in very serious talks to buy Market Basket. From all that we have heard, it was almost a done deal before we essentially trashed their coveted asset. Had they succeeded the two major supermarkets in this region would be controlled by two foreign entities who maximize their profits whenever and wherever they can. Without Market Basket there to force them to lower their prices in order to try and stay competitive we can guarantee you that their pricing structure in this region would have changed dramatically. It is a safe bet to say that we wouldn’t be paying 16% more but rather closer to 25% more like we do when we travel outside MB country.

To keep it simple, let’s say we pay $10,000 annually in grocery bills. If ASD and his band of thieves get their way and Delhaize buys the company, we each pay $1600 more per year if they don’t touch prices. If they move to raise prices like we think they would have, we pay $2500 more.

We have 2 million customers…

Toss some numbers around in your own household and think of what you prevented when you helped Save Market Basket. Then think of your neighbors, your town, your state and your region. The economic impact of what would have happened is chilling.

Together we stopped it. It’s pretty damn amazing.

We Are Market Basket

Set Your DVRs

Set your DVRs

Tonight at 7 on WGBH TV channel 2, Tom Trainor and Joe Schmidt will be guests on Greater Boston with Jim Braude.

After covering the story extensively during the events of last summer, Jim is circling back to see where things stand a year later. There’s no doubt that Tom and Joe will do a fantastic job covering all the bases.

One Year Later

One Year Later

As we approach the one year mark of so many of last summer’s events we will be putting some posts up in a sort of retrospective fashion. There was so much emotion as we worked together to save the company that it will be good to take a look back at some of the big happenings and some of the central characters. The fact that we won will make this a fun thing to do but we will never lose sight of just how difficult and stressful the fight was and how so many people were willing to sacrifice so much for each other.

Market Basket today is better for everything that it went through. This means all of us…customers, associates and vendors. The brand now stands for much more than simply a place to buy groceries. Its name is recognized throughout the country as representing a business model in which everyone wins, from shareholders to the workforce to the communities we serve.

We are proud to have stood with so many amazing people who were willing to fight for something they hold dear. Every single one of them played a vital role in moving the ball forward and without any one of them, we don’t win.

Together We Saved Market Basket!

Food Fight!

We received this email from Jay Childs earlier today:

“Good morning we are contacting you to announce the First Official Trailer for the coming documentary film, “Food Fight – Inside the Battle for Market”. The trailer can be viewed at www.FoodFightFilm.com. If you’d be willing to post this to the SMB Page and wearemarketbasket.com site with a link to our site we’d very much appreciate it.
Thank you! Jay Childs, Director.”

As most of you know, Jay started covering our story very early on and stayed with it through the conclusion and beyond. Along the way he earned the trust of many and was considered ‘one of us’ as he documented all that we were fighting for. His successful Kick Starter campaign stands as a testament of how many stakeholders wanted to see him get the project to the light of day.

Good luck with the documentary Jay, everybody loves a good Food Fight!