It is really a shame to watch the demise of Market Basket. These A Shareholders fired one of the greatest CEOs of our time, Arthur T. Demoulas. They hired Americas two worst CEOs to replace him. Gooch and Thorton, who wasted no time to demoralizing the employees with by firing the some of the most valuable employees who knew the secret sauce to success, taking away the livelihood of close to 20,000 workers, and sending demoralizing letters to any and all of them, laden with threats. The company now suffers a loss of 10 million dollars a day and a decline in sales to the tune of 90%. What do these shareholders do? Nothing, some have never even stepped foot into the stores we are told. Customers have reached out peacefully to them, and they turn the other cheek. Meanwhile other grocery stores and restaurants have enjoyed as much as a triple increase in sales. On a moral ground, most customers have decided to shop elsewhere unless Arthur T. Demoulas can buy out 50.5 % of the shareholders. If not, these A shareholders with their grand plan will become a historical example of what not to do to customers and employees, lest you want to see your company vanish.
Posted on: Thu, 14 Aug 2014 22:26:05 +0000
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