“The only thing necessary for the triumph of evil is for good men to do nothing.”–Edmund Burke

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

Comments

  1. Elizabeth bates says:

    In it to win it. Whatever we need to do I will be in. Wholeheartedly. My support for ATD and our MB family is solid. The malfeasance of the current BOD in alliance with ASD is not only unacceptable, its straight up wrong. I believe in doing what is right. And I’m not alone.

  2. What, do you suggest, we DO to prevent this? Clearly the courts are in ASD’s back pocket. What other redress do we have?

  3. lisa deltrecco says:

    So, let me get this straight. The A side wants to sell of MB’s real estate for profit and put MB into a situation where we have to rent retail space. If they are so hungry for money then they should sell off their own real estate and rent from someone else, but oh no they won’t do that because it doesn’t make financial sense!!! Leave MB’s real estate alone. MB collects rent from other companies that put money steadily into the A side’s pockets. None of this makes good business sense. Do any of them have any common sense????
    Lisa DelTrecco
    Store 6

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