Just in re: Market Basket

[graywarrior]

Lowell News reports two bits of info 3 minutes apart

#MarketBasket board says it's "considering strategic alternatives directly with parties in private conversions" as it weighs offers.

then: #MarketBasket board says it "fully supports the current management team" in its efforts to ensure operations resume immediately.


Effed up.

Boston Globe reports
Market Basket board encourages continued ‘constructive proposals’ on bid

(snip)
The move comes as Demoulas has been furiously negotiating with his cousin and main rival, Arthur S. Demoulas, to buy out his half of the multi-billion dollar chain.

Arthur T.’s statement ratchets up pressure on rival shareholders to take action by offering himself as an immediate solution to the company’s rapidly crumbling fortunes.

(snip)
Arthur T.’s statement said that his side of the family has “been working around the clock to pursue their offer to buy the 50.5% of shares in [Demoulas Super Markets] they do not own for a full and fair price,” the statement said. As part of his proposal, Arthur T. offered “to move immediately to return to work in advance of the completion of the stock purchase and work to bring back his full team to stabilize and begin to restore the business.” He offered to do so starting “as soon as midnight [Sunday].”

http://www.bostonglobe.com/business/2014/08/03/arthur-demoulas-wants-return-market-basket/7BSMXDy7L0QUzhENlGk1ON/story.html

[senseandsensibility]

1. hmmm

Keep us posted, but the board has seemed to me throughout this to be extremely clueless and stubborn.

[graywarrior]

2. They're facing a brutal week starting tomorrow

I can't imagine what the job fair will be like. Tuesday is a massive rally is planned. The stores are stocked but customers are boycotting. Employees were asked today to support the few stragglers who are shopping...mostly elderly who have nowhere else to go.

[Downwinder]

3. Even Walmart does not have that much disdain for the customer.

[Cha]

4. kick and thanks, gray~

[sheshe2]

5. KnR

[graywarrior]

6. JOB FAIR STARTS AT 4 PM TODAY

Should be interesting.

[Agschmid]

7. Kicked.