An open letter to the management Market Basket

To the Demoulas Supermarket board of directors,

I’ve been a loyal Market Basket customer for over 15 years, but have also been paying attention to recent events in your company.

You fired a man who expanded the chain to over 70 stores through a policy of fair prices and fair wages. He earned the #6 slot in Consumer Reports’ ranking of 55 national grocery brands. There are precious few companies left with the number of long-term employees seen at Market Basket.  

Instead, you hired a man whose last company inspired The Onion to run an article titled “Even CEO Can’t Figure Out How Radio Shack is Still in Business”.  This new management seems primed to “raise shareholder value” by cutting benefits, raising prices, increasing debt, and possibly selling off assets.  In other words, making money not by creating wealth, but by stripping it out of a successful company.

Employees protested this move- Many whom had been with the company for decades.  I have never heard of employees taking this kind of coordinated action on behalf of an executive. This is the kind of company loyalty that any businessman worth his salt would kill to have.  Instead, you fired several of your best people- by messenger, no less.

I can no longer shop here with a clear conscience.  I will bring my business back if Artie T is reinstated.  Until then, I suppose I’m stuck with Shaws and Hannaford.  I can only hope you come to your senses and realize how much money you stand to lose through your actions.

-Michael DolanRochester NH

 

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