Did I Put All My Eggs in One Market Basket? Previous blog by Marvin Website…
It is day #18 of the largest supermarket war in history. This is what we have learned in the past 18 days.
- People can be fiercely committed
- People are loyal
- People hate greed
- People band together
when someone they are loyal to gets a raw deal (who doesn’t remember a Rocky movie and yes everyone loved Sally Fields in Norma Rae.)
People in Massachusetts are doing it again: Going to battle. The Tea Party 2014 style. This time over Market Basket, formerly Demoulas Super Market Chain.
Arthur T. Demoulas is under fire as he was removed as CEO of the 46 billion dollar industry by his cousins who own the majority of vote. It started in Lowell, Massachusetts where his father founded the store selling fresh lamb. Upon the death of the grandfather, the chain was split to Arthur T. and his cousin Arthur S. Together they built the business to the 147th small successful business chain in the Fortune 500 list. Yes, 46 billion. Twenty five thousand employees are striking on their own. They never had a union but Arthur T. as he is fondly known, has raised his workers to be like family. The Boston Globe, The Massachusetts TV stations and the entire state of New Hampshire have carried this story daily in the headlines.
You will be spared the detailed information about the family feud: the longest running lawsuits in Massachusetts history, you can read it for yourself
Former shoppers at the chain have refused to enter the Market Basket stores (72 in number) in Massachusetts and New Hampshire. I have interviewed many employees and shoppers in other stores. I believe I am not supposed to name them so I can call them the big WM, the lesser H and the national chain S. We have some links at the end of this rather long blog in case you are REALLY committed to growing your particular business, or if you would like lessons on how to ruin a 46 billion dollar industry in one decision.
I truly believe that this case history will be a study in every MBA program from now on in the college of your choice. Another historical event.
One would think that the alternate food chains would lower their prices and accumulate new faithful shoppers but alas, they hiked prices and are giving their workers as much overtime as they want.
Threats to the workers of Market Basket have only fueled the shoppers’ tempers and all of us are more committed than ever not to shop until this is settled.
Let us all stand together and do what is right. Please give us your comments & feedback.