The Bonus Story

“No one who achieves success does so without acknowledging the help of others. The wise and confident acknowledge this help with gratitude.”–Alfred North Whitehead

We are so grateful that ATD stood up and fought for our bonuses, we know the BOD didn’t give him what he wanted and they once again tried to blame him saying he didn’t give them enough time, that’s a crock and they once again tried to take the credit for the bonuses.  We can be pretty sure that without ATD we wouldn’t even be getting bonuses.  As BM stated in his letter ATD asked for $56 million and he got $44 million with $12 million deferred (doublespeak for denied).  Before you go crazy thinking that $9 million additional is a windfall let’s not forget the extra 2-3,000 new associates that will be sharing with us for the first time.

The increase that ATD asked for was to cover those new associates and to reward us for continuing to do a great job in spite of competition and uncertainty with this new Board. The Board, just weeks after giving the nine shareholders a $300 million dividend denied 22,000 associates the additional $12 million.  The BOD then tried to spin it by saying they “approved a substantial increase in the bonus pool” essentially trying to take credit for the bonuses that ATD stood up for and fought for.

“The increase in the size of the bonus pool reflects the Board’s appreciation for the dedication of associates over the past year in providing outstanding service to Market Basket customers in an increasingly competitive environment. The Board also noted that thanks to the associates, Market Basket continued to deliver “More for Your Dollar” to customers, and such extraordinary efforts deserved to be rewarded.”

The paragraph above, taken from the Board’s website is demeaning to us.  We know that if it was up to them we wouldn’t get a penny yet they try to fool us with their “appreciation” and “such extraordinary efforts deserved to be rewarded”they would have us believe that we are appreciated and our extraordinary efforts should be rewarded but not to the level that ATD appreciates our extraordinary service.

Mr. Cowan, Mr. Weiner and Mr. Gebaide, the best way you can show us your appreciation is to take the handcuffs off ATD, open Revere, Attleboro and resume construction on Waltham.  Then you can reward our extraordinary efforts by resigning.

Comments

  1. What the Board has been doing has gotten out of control, spewing lies upon lies. I hope that all of the associates and their efforts can get the handcuffs off of ATD’s hands and let him run the business the way he has been…SUCCESSFULLY!

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