Remember 5 Years Ago: Market Basket Employees Saved Their CEO
The Market Basket story of the summer of 2014 was one of the most fascinating business stories of loyalty that I've ever heard of in my life.
This was a story of doing what's right for the employees and the owners of Market Basket.
To refresh your memory, according to Wikipedia, the company's Board of Directors fired Arthur T. DeMoulas and that firing resulted in a six week-long battle to get his job back.
The battle was spear-headed by the employees of Market Basket, starting in Chelsea, Massachusetts, and soon spread to all the Market Baskets in the chain.
It was an unbelievable sight. People who worked there didn't know if they would have a job to go back to, but finally, after weeks of not knowing what was going to happen, according to a story from WCVB, the company's board of directors agreed to sell control of Market Basket to Arthur T. DeMoulas.
Thus, keeping the company family owned and operated.
The show of loyalty was, in my mind, the most amazing thing I had ever witnessed. Can you imagine putting your livelihood on the line for your boss who just got fired? Now THAT's loyalty.
I'm sure it didn't hurt that everyone was dong the same thing. If you were on the picket line alone, it would be very difficult.
Glad that Market Basket stayed the way it's always been, weird announcements and all!! As the sign says, "YOU'RE A GOOD MAN, ARTIE T!"