Letter: Market Basket’s risky business
News stories report that the bloodless coup is complete at Market Basket. The Arthur who has demonstrated deep and abiding concern for employees and customers has been forced out by the Arthur who seems only to want more for himself.
Gone is the management team that grew the chain into markets where they were desperately wanted and improved the quality of the product mix, all the while maintaining across-the-board low prices. In their place come two executives whose business resumes are highlighted by pay raises and golden parachutes while their respective companies circled the drain.
A look at the financial news about their tenures at Albertsons and Radio Shack might give an indication of what awaits Market Basket.
Too many times, family members demand more money from companies their wiser kin manage; too many times we see it end in betrayal of the companies’ missions and ultimate failure. As a loyal Market Basket customer for longer than I can remember, I will watch with deep interest. To the outgoing Arthur, thank you for all you have done for the customers. To the “new” Arthur, good luck. If you take Market Basket in the direction it appears you intend, I and thousands like me will shed our loyalty like an overcoat in summer. To my fellow Market Basket shoppers, see you at Hannaford?