Arthur T. Demoulas Firing At “Market Basket” In CEO Starts To Impact New Hampshire Stores.
by Anura Guruge
>> Arthur T. Demoulas firing over 4% — June 24, 2014.
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I am glad to see that some “Market Basket” employees, probably the more enlightened, long term staff, are willing to take a stand about the — what appears to be the unnecessary and shameless — firing of their CEO, Arthur T. Demoulas, son of Mike (the one accused of ‘short-changing’ the family of his brother George, who died of an unexpected heart-attack, in 1971, in Greece).
Arthur does seem to have been popular — as was his father. See my earlier post — I was married to a Lowell, “Demoulas Family” [i.e., they ‘all’ worked, at some time or other, in one of the nearby stores].
The last time I was at the Fort Eddy Road store in Concord, which was last week, I happened to ask the young cashier, proudly wearing her “1 Year of Service” name tag, about the firing. I was surprised that she knew all about it and also expressed her displeasure! I was impressed. She also volunteered that she, probably all of 18, couldn’t understand how the Board thought that they can stop the 4% discount, after they said that it would continue until December 2014.
This would all be kind of funny if it wasn’t also so sad. I feel bad for the Market Basket employees, such as the Supervisor at the warehouse that got fired. Not sure what their financial situation is. My ex-wife’s uncle who worked for the Demoulases from way back did very well. But he was like one of the original employees.
Arthur obviously is in good shape. His cousin, his ‘duped’ uncle’s son, is said to be worth over a billion. So, not that worried about the Demoulas family members per se. Yes, it is very much an ego thing for them.
It is a privately held company — with the voting, from what I see, split between the two competing sides of the family. One side really should buy the other side out and put an end to these shenanigans.
I am hoping to stop by the Fort Eddy Road Market Basket sometime this week. I need my Market Basket fix. I don’t need to buy fresh produce there per se. We also do the local, i.e., Alton, Fiddleheads, weekly and they do have good produce.
So … here we stand. My thoughts are with the workers. Don’t won’t they to suffer. They deserve better because they are some of the finest. I can’t ever remember ever having any kind of ‘issue’ with a Market Basket employee. “Good eggs”, so to speak.