From our Late to the Party Poopers desk
Monday’s local dailies both featured the obligatory quotidian update on the Demoulas Slapfight/Market Basket Rumpus.
The Boston Globe’s Page One piece:
Pressure mounts on Market Basket board of directors
No decision on offer of buyout by Demoulas as chain’s losses increase
With a multibillion-dollar supermarket empire hanging in the balance, the Market Basket board of directors met Monday to again consider a buyout offer from Arthur T. Demoulas but agreed only to continue negotiating, according to a person briefed on the discussions.
Demoulas had previously set the end of Monday as the deadline for rival members of his family to respond to his offer to buy their half of the company. The board’s continued negotiations will keep Demoulas’s bid on the table for now, according to the person familiar with the discussions, but both sides are facing pressure to resolve the family feud that has paralyzed the 71-store chain and caused tens of millions of dollars in losses.
Among those pressures: a total revolt by Market Basket store managers.
Meanwhile, managers of some stores signed a petition stating that they would resign unless Arthur T. Demoulas is reinstated as president of Market Basket or if the company is sold to an outside buyer. It was unclear how many managers had signed the petition Monday night.
Excuse us – it was not unclear to the Boston Herald.
It’s ‘Artie T’ or they’re bagging it
Market Basket managers to quit unless CEO reinstated
Market Basket managers have reaffirmed their commitment to working for nobody else but fired CEO Arthur T. Demoulas, saying they’ll quit if he isn’t reinstated — a threat that could remove the working management of most of the chain’s stores, already reeling from a loss of customers and protests by thousands of workers.
Managers and assistant managers from 68 of the Tewksbury chain’s 71 stores had signed a petition by yesterday evening stating they would resign immediately if Demoulas isn’t reinstated “with full authority” or another buyer other than Demoulas purchases the company, according to Steve Paulenka, a former Market Basket facilities and operations supervisor who was fired July 20 for helping spearhead employee protests and job walk-offs.
So who’s doing a better job of bagging this story?
Quotidian update later today.