Someone is going to make a movie about the current Market Basket drama. We’ll
have a good idea who makes the movie when this episode plays out. If Arthur T. (Artie T.) Demoulas and the workers prevail, it’s a happy Disney movie. If Arthur S. Demoulas, Felicia Thornton, and Jim Gooch maintain control of the company and continue on the current course, the Coen Brothers should make the film.
I am more than puzzled by the actions of the DeMoulas Super Markets (DSM) board, sacking the CEO who turned a supermarket chain into a highly profitable and beloved local institution. By all accounts, the directors represent the majority shareholders of this family owned business, shareholders who could sit back and watch tens of millions of dollars roll into their bank accounts every year because shoppers and employees were extremely loyal to their stores.
I know that being a school board member is a very different kind of experience, but I can’t imagine any board placing their organization into a deliberate death spiral. Yes, school committees are accountable to voters, and the Market Basket board is only accountable to the pocketbooks of the majority shareholders, but it still makes no sense.
The DSM board has the power to replace Artie T. and the power to take control of their buildings. Of course, this would require a management effort reminiscent of Matewan. Is James Earl Jones a Market Basket store manager?
The problem is that contracted truckers and security guards can force the lettuce into the store, but it can’t force the customers to come in and buy the produce. It certainly won’t trump the goodwill built over the years by the employees and policies put in place by Artie T.
The DSM board will meet again on Friday. They can find common ground, reinstate Artie T., and start to put the pieces back together again. Or they can stand firm, and not let a plethora of workers and customers tell them what to do. If they don’t find a way to bring back Artie T. and the fired employees, I don’t know how they escape the death spiral. The magic will be gone. The fanatically loyal customers will disburse into the land of Hannaford and Stop and Shop. Some large corporation will buy out the business, rebrand the stores, and Market Basket will be nothing more than a fond memory. The folks on the DSM board will walk away with a few less millions in their pocket, but they will walk away with the smug satisfaction that they ran Artie T. and his loyal employees out of the store. Multi-million dollar vengeance. I guess they can afford it, but it comes at a very high price.
I hope Artie T. gets his job back and we get the Disney movie of the underdog baggers and cashiers prevailing over the evil corporate directors. Even more important, I hope I can spend a week following Artie T. around as he runs these stores. I want to know how he does it.