Quote:
Originally Posted by Rusty
So Arthur T goes back to work as the man in charge and he doesn't own MB.
Just because the board OK's Arthur T's bid for the company does not mean that it is a done deal. Sorry folks but I'm not falling for this at all.
The CEO and Board of Directors have only OK'd Arthur T to get the people back to work so they can start making money again.
The below statement is the only thing that has changed:
“Effective immediately, Arthur T. Demoulas is returning to Market Basket with day-to-day operational authority of the company,” Market Basket said in a statement Wednesday night. “He and his management team will return to Market Basket during the interim period while the transaction to purchase the Company is completed. The current Co-CEO’s will remain in place pending the closing, which is expected to occur in the next several months.”
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Rusty, how many more times are you going to insert your foot in your mouth? Give it up. ATD and company have prevailed. You are taking that quote out of context, an agreement has been reached to sell the 50.5% to ATD. This is confirmed by many sources, not just one.
I congratulate the management and associates for sticking their necks out for a cause they so deeply believed in. This will certainly go down in business books as more than a footnote in labor/management relations textbooks. I wish other companies would value their stakeholders over their shareholders just as ATD does. In the end, it seems like this is what separates a good company from a great one. There are very important lessons to be learned because of this, I hope other companies are paying attention.
I don't think it will take as long as most people think to get this business back to normal. Associates who put their necks on the line will now most certainly bust their @sses to right this nearly sunken ship.