<p>Cerberus through its AB and the Delhaize Group of Belgium are able to weather a few storms. </p>
<p>The Arthur vs Arthur saga is interesting. The good guy has been generous with the proceeds of his father’s thieving plans. You’d think that the S group was miffed to see their rightful 50 percent reduced to 8 percent. And you’d think they were quite ticked off at the thieves who fought forever and a day to return the stolen assets while being generous with non family members. </p>
<p>A Greek tragedy at its best. Fwiw, Jim Sinegal’s battles have been of a different nature. </p>
<p>Thanks for explaining, @interesteddad. It has probably been more than 3 years since I have been to a Market Basket. I thought it was gross and did not get what all the hoopla was about. The prices were low but the produce was tired and blah and the whole place just seemed slightly unsanitary. I am glad they’ve improved. Maybe when the dust settles, I will go back.</p>
<p>Employees are still striking and customers are still boycotting. Most of the media is now focused on how the boycott/strike are effecting the people in various communities. Market Basket has some stores in some poor cities where there is no other grocery store and the people don’t have transportation to go elsewhere. The chain also buys a lot of local produce and fish, so those family run businesses are losing money. </p>
<p>Latest I’ve heard is that last night, the governors of both Mass and NH met with the Market Basket board and they are supposedly close to a deal. Although Mass governor said the same thing last week. Also, heard that governors wife manages the law firm that represents Arthur S (the bad one) and the board of directors. Smells like Massachusetts corruption at its finest!!</p>
<p>Arthur S must really, really be a bad one if the good one is the son of the T who conspired for years to steal the rightful due to the rest of the family that needed years of battles to recover their interests. He might have been a better operator and done well for his employees, but there does not appear to be any good ones in this utterly dysfunctional family. It is easy to be generous with the proceeds that were not rightfully yours. Buy your friends with somebody else’s money seems to have worked! </p>
<p>The latest twists involve the Belgian Delhaize Group buying the “bad” side out and negotiating for the return of the “good” one at the helm of the company. It remains unclear if the “bad” side will be happy to sell their interest if the “good” one returns in the pole position. </p>
<p>Hard to find much sympathy for anyone in this family of thieving billionaires. The founder of the dynasty must be turbing in his grace. </p>
<p>Fwiw, do not expect the Delhaize family to be be charitable with the employees who walked away from their jobs. They have been known to fight the antics of unions with spirit. </p>
<p>Hoping this gets settled soon. Haven’t shopped there since July 17th (the day before the warehouse workers walked). My son, now a college sophomore, worked at MB all thru high school and now my daughter “works” there (or she did till the new management cut ALL the part timers hours to Zero due to the decrease in sales. ). Just glad this happened at the end of the summer rather than the beginning of the summer so she is only out of work a couple of weeks before going back to high school.</p>
<p>They are so great at giving kids their 1st jobs, even the kids get bonuses (little bonuses but still bonuses) numerous times per year. Hoping that the college scholarship program comes back once this is settled. No one got any scholarship money this year. All those extra benefits will be gone if Artie T doesn’t get the company back. The “other” side didn’t like it that he was giving benefits to the employees, and keeping prices low for the customers, rather than that money going to the family shareholders. </p>
<p>And there have been lots of stories of him attending employees weddings, employees kid’s weddings, giving people paid time off to deal with health issues or a family members health issues, on and on and on the stories go. they hire from with in too. the top management all started at 14-15 yrs old as baggers and worked their way up. Lots of employees have been there for 20, 30, 40 years.</p>
<p>It’s now hit the one month mark and Market Basket is, for all intents and purposes, out of business. There were two cars n the parking lot at my local MB at 5 pm rush hour on Monday. Suppliers have stopped shipping. They are threatening to fire employees and hire replacement, but it doesn’t matter. They don’t have any customers.</p>
<p>The Boston Herald had some info on the offer that’s been on the table for month. Prior to the shut down, MB was valued at somewhere between $3 billion and $3.5 billion. According to the paper, Arthur T. offered $1.2 billion for the 50% of the shares he doesn’t own. The board has been “negotiating” for a month now.</p>
<p>The Globe published an op ed listing the names of the board members today, calling them completely incompetent for not getting a deal done. The public listing of their names came with a warning not to consider putting any of them on your company’s board unless you want someone bumbling enough to destroy your company. The op ed then asked what they have been doing for 30 days. Playing golf?</p>
<p>Grocery shopping has been a complete nightmare. It’s costing me a solid 50% more across the board.</p>
<p>Thanks for the updates. I find it surprising and heartwarming that such a large group of people have taken a stand when it is inconvenient and costly for them to do so.</p>
<p>Yes- Thanks for more info. Really terrible situation. </p>
<p>I, too, have been wondering how viable Market Basket’s “resurrection” could be. </p>
<p>If someone, who I assume could financially tolerate an increase in grocery costs… 50% uptick is a ridiculously huge increase… what about those who cannot possibly increase their food budget.</p>
<p>It’s is a significant difference by the time you apply these increases across the board. What’s more surprising: Shaws has a much smaller selection, especially when it comes to “ethnic” cuisine, but even basic staples. As I run out of basics from Market Basket (like Alessi White Balsamic Vinegar or Buistecco spicy salami), Shaw’s doesn’t have them or even reasonable approximations at any price.</p>
<p>If that were true, is he not responsible for failing to redress the obvious malfeasance of his father and engaging in a protracted battle, which he ultimately lost? This is not a battle between good and evil. Both sides are despicable. Just in very different ways. </p>
<p>The reports are all showing how the customers have and will suffer from this family feud. The level of responsibility is probably shared in a manner corresponding to their shares. And the balance tipped by the people who callously walked out of their jobs. </p>
<p>Arthur T also offered to come back and run the company while negotiations were going on. They obviously didn’t take him up on it. Their goal to rape the company financially has blown up in their faces. They got their distribution, all right, but the value of their shares has plummeted. $1.6 billion, based on the pre-cataclysm valuation, was a very fair offer. The jackals should take the money and slink away.</p>
<p>I am more inclined to trust the judgement of those who work for and shop at MB regarding his character. I think that their extraordinary actions are testament enough.</p>
<p>A court decided years ago that Arthur T’s father was wrong. This is why Arthur S owns 50.5% of the company and Arthur T owns 49.5%. Arthur S holds a grudge, but his father ‘won’ in court.</p>
All those extra benefits will be gone if Artie T doesn’t get the company back. The “other” side didn’t like it that he was giving benefits to the employees, and keeping prices low for the customers, rather than that money going to the family shareholders. </p>