Why Market Basket Matters (and where the situation stands)

[canoeist52]

Now MA and NH governors are trying to mediate.

"1) Both parties have already agreed to a price. That has been well established and the offer made by Arthur T. Demoulas far exceeds the current market value of the company. His offer was to pay the full value of the 50.5 percent shares before this got "out of hand."

2) The current board of directors wants to dictate the financing aspects of this offer in order to continue to profit beyond getting a share price that is overvalued at current. No seller is able to dictate the financing arrangement so long as the offer is accepted and paid for. The Board of Directors is responsible for this hold-up and no one else.

3) If protesting employees were to return to work, the company has proven it cannot meet its financial obligations at current. How will they meet payroll? The underlying matter here is that customers such as myself refuse to support this company with its current management team in place who have consistently broken multiple labor laws during this process. You can staff the stores, but it won't make shoppers return. What service could they possibly provide to non-existent customers?

4) Although I acknowledge many employees have chosen not to report to work, many warehouse and corporate office employees have in fact attempted to report to work to be turned away by what could best be described as hired thugs and told to go home and leave the property. I am sure you are aware that the warehouse and corporate office employees all received letters this week informing them that they must return to work or they will be removed from payroll for abandoning their jobs. It seems the company is taking further illegal measures to ensure these individuals are terminated. As far as the other employees, legally the company does not need to pay them, but what they are doing is considered a "strike" and there are laws in place to protect them as well."

http://m.seacoastonline.com/apps/pbcs.dll/article?AID=%2F20140815%2FOPINION%2F408150361&template=wapart

[daleanime]

1. Thanks for update.