Supermarket battle in Boston

[Fanatical Meat]

Yup I just caught the end of a local news report. Artie T will be back immediately, he will be the decision maker, 1.5 Billion will take several months to sort out. Current two CEOs keep positions in title only until Artie owns the whole operation.
I wonder how much the radio shack loser will earn?
Almost forgot all separated workers are welcome back.

 

[Strk]

Yup I just caught the end of a local news report. Artie T will be back immediately, he will be the decision maker, 1.5 Billion will take several months to sort out. Current two CEOs keep positions in title only until Artie owns the whole operation.
I wonder how much the radio shack loser will earn?
Almost forgot all separated workers are welcome back.

I am kind of curious how much those two hacks will earn. It's sad that it will probably be more than most of us will ever earn and all they have done is ruin companies.

 

[Jimzz]

Ousted But Popular CEO Buys Back Company, Ending Six-Week Supermarket Standoff

http://consumerist.com/2014/08/28/o...company-ending-six-week-supermarket-standoff/

 

[trenchfoot]

This specific example of loyalty between management and workers is exactly how I was taught to lead, where when you put the needs of those whom you lead ahead of your own needs, when the need presents itself, your charges will follow you through hell and back, no questions asked.

Maybe Walmart can take a lesson or two from this experience. Nah, who am I kidding. I think in Walmart's view, the employees weren't strong armed enough into keeping in line with management's intent to take care of its investors and top management first and foremost.

 

[CitizenKain]

This specific example of loyalty between management and workers is exactly how I was taught to lead, where when you put the needs of those whom you lead ahead of your own needs, when the need presents itself, your charges will follow you through hell and back, no questions asked.

Maybe Walmart can take a lesson or two from this experience. Nah, who am I kidding. I think in Walmart's view, the employees weren't strong armed enough into keeping in line with management's intent to take care of its investors and top management first and foremost.

Walmart will have to learn the lesson eventually.

You could harness Sam Walton for energy from the amount of spinning he is doing in his grave from letting his idiot children take over and ruin his store.

 

[werepossum]

Ousted But Popular CEO Buys Back Company, Ending Six-Week Supermarket Standoff

http://consumerist.com/2014/08/28/o...company-ending-six-week-supermarket-standoff/

Cool, everybody wins except Arthur Shithead. (I'm assuming that's what the 'S' stands for; I could be wrong.)

Well, everybody wins except Arthur Shithead and whatever stores had reaped the bounty of the boycotting Market Basket customers.

 

[code65536]

Cool, everybody wins except Arthur Shithead. (I'm assuming that's what the 'S' stands for; I could be wrong.)

Well, everybody wins except Arthur Shithead and whatever stores had reaped the bounty of the boycotting Market Basket customers.

He just caused the chain to lose $3b (estimates put losses at $70/m per day, and this went on for 6 weeks, though I have no idea how grounded in reality those estimates are), and now he's been paid $1.5b to relinquish his share and to walk away.

 

[Strk]

He just caused the chain to lose $3b (estimates put losses at $70/m per day, and this went on for 6 weeks, though I have no idea how grounded in reality those estimates are), and now he's been paid $1.5b to relinquish his share and to walk away.

I'm not sure where those estimates came from, but most were reporting around 10m a day. Besides the new costs to the private equity firm and mortgages, my guess is around 500m. But as a private company, he can absorb those costs as long as the creditors are paid as long as he doesn't mind.

 

[code65536]

I'm not sure where those estimates came from, but most were reporting around 10m a day. Besides the new costs to the private equity firm and mortgages, my guess is around 500m. But as a private company, he can absorb those costs as long as the creditors are paid as long as he doesn't mind.

They were in quite a number of the news articles. But, yes, $70m did sound too high. $10m/day or $70m/week sounds far more reasonable, and perhaps somewhere along the line, a reporter flubbed per-week into per-day and then it just proliferated through the media.

 

[Strk]

They were in quite a number of the news articles. But, yes, $70m did sound too high. $10m/day or $70m/week sounds far more reasonable, and perhaps somewhere along the line, a reporter flubbed per-week into per-day and then it just proliferated through the media.

Impossible, our news agencies are no less than perfect!

I haven't been to my store yet because of work, but I've heard they're fairly well stocked already. The big shortage is meat, which will probably be a week or so to get fully stocked.

 

[Jaepheth]

He just caused the chain to lose $3b (estimates put losses at $70/m per day, and this went on for 6 weeks, though I have no idea how grounded in reality those estimates are), and now he's been paid $1.5b to relinquish his share and to walk away.

The power to destroy a thing is the absolute control over it.
~Paul-Muad'Dib

 

[gotsmack]

I don't understand why they paid such a premium for the remainder of the shares.

The 1.5 Billion payment is said to be in line with fair value before the strike. Doing some rough math 70 million weekly loss at 6 weeks is $420 Million. Total value is 2.58 Billion/2 = 1.29 Billion for the current market value. That is what they should have paid or waited a few more weeks to bleed out the other side of the family more.

 

[Strk]

I don't understand why they paid such a premium for the remainder of the shares.

The 1.5 Billion payment is said to be in line with fair value before the strike. Doing some rough math 70 million weekly loss at 6 weeks is $420 Million. Total value is 2.58 Billion/2 = 1.29 Billion for the current market value. That is what they should have paid or waited a few more weeks to bleed out the other side of the family more.

I guess he didn't want to risk it getting sold to Delhaize or someone else. It also gets it over with and they can move on.