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by: Posterguy Active Indicator LED Icon 16 OP 
~ 9 years ago   Aug 28, '14 11:19am  
The Story Of Grocery Chain Market Basket Ended With A Stunning Victory For The Workers
Associated Press
 
Associated Press
 
Aug. 28, 2014, 8:00 AM
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arthur demoulas market basket ceo
 
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Market Basket CEO Arthur T. Demoulas
 
A six-week standoff between thousands of employees of a New England supermarket chain and management has ended with the news that the beloved former CEO is back in control after buying the entire company.
 
Tractor-trailers bearing the Market Basket logo and laden with the tons of food it will take to restock the chain's 71 stores in Massachusetts, New Hampshire and Maine, as well as vendor vehicles, pulled up to loading docks before business Thursday, just hours after the announcement late Wednesday that Arthur T. Demoulas paid $1.5 billion for shares of the company owned by the rival family faction, led by cousin Arthur S. Demoulas.
 
Market Basket said in a statement late Wednesday that Arthur T. Demoulas would be returning to the company and that he and his management team would handle day-to-day operations while the purchase is completed.
 
"All associates are welcome back to work with the former management team to restore the company back to normal operations," Arthur T. Demoulas said in a statement
 
"I feel like I won the lottery," Market Basket truck driver Buddy Wemmers told The Boston Globe.
 
"I'm thrilled, this is epic," said Tom Trainor, a district supervisor, told the Boston Herald.
 
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Thousands of workers mobilized to protest the CEO's firing.
 
Gary Sessa, a front end manager at the chain's Tewksbury store, told WFXT-TV that company bakers came in at midnight after hearing the news and started baking cakes that say "Welcome back Artie T: Market Basket Strong."
 
The company's two current CEOs, Felicia Thornton and Jim Gooch, are to remain in place until the deal is closed, within the "next several months."
 
Arthur T. Demoulas was ousted in June by a board of directors controlled by Arthur S. Demoulas, causing workers to stage protests. Hundreds of warehouse workers and drivers refused to deliver food, leading to empty shelves and tens of millions in lost revenue. Customers stopped shopping at Market Basket, with some even taping their receipts from competitors in Market Basket store windows.
 
The crisis even prompted Massachusetts Gov. Deval Patrick and New Hampshire Gov. Maggie Hassan to help negotiations.
 
"We are delighted that the parties have reached agreement on terms of sale and resolution of operating authority, so that employees can return to work and customers will once again be able to rely on these stores to meet their needs," the governors said in a joint statement.
 
After the company fired eight supervisors who helped organize the revolt, public support for the workers intensified.
 
More than 160 mayors and legislators in Massachusetts and New Hampshire signed petitions agreeing to boycott Market Basket. The stores, usually jam-packed with shoppers attracted by the chain's low prices, have had only a trickle of customers for weeks.
 
Business analysts said the worker revolt was remarkable at a family-owned, non-union company, particularly because the workers were not seeking higher wages or better benefits, but instead were calling for the return of their CEO. The workers credit Arthur T. Demoulas for treating them like family, keeping prices low and leading the company's success.
 
Renee Mulhane, a part-time Market Basket employee in Tewksbury, said late Wednesday she was hoping an agreement was reached so that she could return to the job she held for 13 years before being laid off two weeks ago.
 
"It has been inspiring the amount of support the public has shown," the workers, she said. The situation has "been draining, but inspiring."
 
Infighting in the Demoulas family has gone on for decades, but this was the first time the family's squabble had such a deep impact on Market Basket stores.
 
Arthur T. Demoulas had offered to buy the 50.5 percent of the company owned by his cousin and other relatives on his side of the family. Demoulas had said Friday he had submitted his final bid to buy out his rivals' share in the New England company on Aug. 21.
 
Market Basket stores have long been a fixture in New England. The late Arthur Demoulas, a Greek immigrant who was the grandfather of Arthur T. and Arthur S., opened the first store in Lowell nearly a century ago.
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Posterguy Active Indicator LED Icon 16 OP 
~ 9 years ago   Aug 28, '14 11:23am  
Why did the workers,vendors and pols do this?
 
Retail More: Retail Grocery Store
Meet The Retail CEO So Popular That Thousands Of Workers Staged A Revolt When He Was Fired
 
Ashley Lutz
 
Jul. 22, 2014, 11:23 AM
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Arthur T. Demoulas might be among the most popular CEOs of all time.
 
When the head of Boston grocery chain Market Basket was fired following a family dispute, several members of his executive team also quit in protest.
 
Thousands of his workers have also mobilized to protest his firing.
 
What makes Demoulas so popular?
 
"He takes care of people, he cares more about people than money, he walks among associates and customers," Tom Trainor, an employee of 41 years who was fired Sunday for his role in the protests, told Business Insider. "He knows your name, your wife's name, your husband's name, what school your kids go to."
 
Trainor rose from bagger to district supervisor during his career at Market Basket.
 
He said that Demoulas is a great businessman, doubling profits in his eight years as CEO of the company.
 
"If associate or member of their family was seriously ill, he would personally make sure they received proper medical care," Trainor said. "He went more than the extra mile."
 
"He shook hands, he attended store openings, he was proud of what everyone accomplished instead of taking credit for himself," Pamela DeSantis White, whose father worked at Market Basket for more than 40 years, told Business Insider.
 
Demoulas was a fixture in his workers' lives, even attending family weddings and funerals.
 
"Not many people can say their boss does that," White said.
 
Market Basket workers rally for fired CEO’s reinstatement ... t.co/4s22ESEUfU pic.twitter.com/4OhO0AwZ6B
— Boston Herald (@bostonherald) July 18, 2014
 
Things have gotten so bad at Market Basket that store shelves are bare.
 
Tewksbury Market Basket opened at 7 AM. True to form, much of the produce section is empty. #WCVB pic.twitter.com/SGhnmUHFrO
— Jim Lokay #WCVB (@LokayWCVB) July 22, 2014
 
Even customers and politicians have gotten involved, staging boycotts until he is reinstated. Eight employees have lost their jobs for their roles in organizing protests.
 
Demoulas was also instrumental in giving workers benefits that are almost unheard of in the grocery industry, according to Boston.com. Employees enjoy profit-sharing and bonuses.
 
"Receiving profit-sharing made workers extremely loyal and aware of wastefulness," former employee Christopher Ward told Business Insider. "It's about more than liking Demoulas as a person...employees are grateful for what he does for them."
 
Ratings on Glassdoor also praise the flexible schedules and room for advancement.
arthur demoulas market basket ceo
 
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Market Basket workers designed these posters in support of fired CEO Arthur T. Demoulas
 
Ward, who started bagging groceries when he was just 14, said that Demoulas made a point to frequent stores and talk with workers.
 
In a petition pleading for Demoulas' return, the grocery store employees said they are worried that the new managers won't advocate for them.
 
"Mr. Demoulas has provided for our family, and we will never forget it," John Sevastis, who has worked at Market Basket for decades, told The Boston Globe.
 
Demoulas spoke about his firing for the first time Monday to defend the eight employees who have lost their jobs for protesting.
 
"This is not about me. It is about the people who have proven their dedication over many years and should not have lost their jobs because of it," Demoulas said in a statement to MyFoxBoston.
 
Trainor said Market Basket is expected to discuss Demoulas' employment at a board meeting Friday.
 
SEE ALSO: 21 Hauntingly Beautiful Photos Of Deserted Shopping Malls
 
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Posterguy Active Indicator LED Icon 16 OP 
~ 9 years ago   Aug 28, '14 11:25am  
Pretty funny the customers would shop at other markets and tape the receipts to the Market Basket windows-lol
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