***************** I just found this posted on Save Market Basket ***************** Cowan, Weiner & Gebaide, The CYA Society The independent members of the Board, Keith Cowan, Ron Weiner and Eric Gebaide released the following statement this afternoon, essentially piggy backing onto Governor Patricks statement from earlier today. Below the statement we will give you our editorial on this as usual. STATEMENT OF THE INDEPENDENT DIRECTORS OF THE DEMOULAS BOARD OF DIRECTORS: WE AGREE WITH GOVERNOR PATRICK: IT’S TIME TO GET BACK TO WORK The Independent Directors of the Demoulas Board today issued the following statement: “We have now gone five days since we offered a solution that would return everyone back to work to support the Company including the former management team. To date, we still have not received a response. Today, we applaud Governor Patrick’s statement encouraging all Associates to return to work as soon as possible. We, as Independent Board members, cannot force any shareholders to buy or to sell, nor can we control the timing of their decisions. All we seek is to get our Associates back to work earning a steady income so our customers can go back to shopping. In return, we can’t offer a resolution to the deal negotiations, but have and will continue to offer a way to return tonormal while negotiations continue. Playing with fire that will hurt us all – Associates,customers, and communities – is a no-win situation, and we all need it to end. It’s well past the time when anyone can frame the crisis as “us vs. them,” or a “family feud.” There are too many families being impacted by this. Rather, for good or ill, many are being asked to sacrifice their pay, their jobs, and their ability to shop at affordable prices in their own neighborhoods, against the hope that it will help one side achieve a preferred business deal rather than another. No one should ever hold 25,000 associates, 2 million shoppers and our local economies as leverage in a business negotiation. It is time to get everyone back to work. It’s been five days since we last proposed a solution that would work toward getting everyone back and bring the crisis to an end. That’s five days too long, and now time is running out. WAMB Editorial With their third public statement in the past five days, these independent members of the board are in full Cover Your Ass mode and we have become quite bored with their antics. We have been telling them for 13 months, through social media, emails and written letters what our concerns are. We have tried to get them to talk to us at Board meetings and tried to have customers hand them petitions and what did the three of them do each time? They walked by without so much as looking at us although Eric Gebaide must have looked since he tweeted that the protestors were getting better looking. For this whole time they have ignored us and finally, we take action to get them to notice us on July 18th and this is suddenly our problem that they want to fix. It is nice to see that they finally dropped the hostage word though and replaced it with leverage, thats a good word because you are telling the customers they are trying to force a deal. These three so called independents have a fiduciary responsibility to both the Class A and Class B shareholders and to the company itself. They have allowed the volume of our company to drop over 90% and the value is dropping like a brick. Suddenly they are worried that they may be held responsible for their inaction and so they start blaming the Associates who revolted for ruining the company. They are right about playing with fire though and we warned them but they ignored the warnings, they now have a full inferno going and you know what? We couldnt stop it if we wanted to because we cannot, nor can the Board nor can the Governor force our cherished customers to come back. Our customers have made it abundantly clear that they will not be back until ATD is in charge. Their offer is shallow and does not include ATD coming back nor does it guarantee he will be sold the company, it is simply another way for them to CYA. We have had enough of their press releases, if the Class A shareholders will not listen to reason and advice from them then the three of them need to tender their resignations and while they are at it take the two completely inept co-CEOs with them. They are so wrong when they state that this is a no-win situation or an us against them battle. That is exactly what it is. We will protest and boycott until we have our win and they have shown us for well over a year that it is us, 2 million customers and 25k associates, vs them (A shareholders and the CYA Independent Board members). They are liable for every single decision which has led us to this crisis. EVERY SINGLE DECISION. This includes their decisions to ignore us in person, to belittle us via email, to threaten us and to listen to ASDs guidance on how to ruin a beautiful company in one short year. You are right about one thing though, time is running out and it is far too late for you to cover your collective asses.
Posted on: Thu, 14 Aug 2014 03:40:16 +0000
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