Gov. Deval Patrick today said that Market Basket workers have the “power to stabilize” the crippled grocery chain by returning to work, as previously requested by the Tewksbury company’s new co-CEOs and independent board directors.
“Frankly my greatest concern right now is with the people who work for Market Basket,” Patrick said at the State House today. “The associates…have it entirely within their power to stabilize the company by going back to work. And I hope that they can see a way to do that while the buyer and seller work out the final terms of a transaction.”
After previously refusing to get involved, Patrick reached out to Market Basket board members on Friday via letter, urging them to resolve the dispute that has virtually shut down the chain’s distribution system and stores and gotten “out of hand.” He offered to help mediate a resolution without choosing sides among the two feuding family factions who own the company.
Patrick today acknowledged he since has talked to independent board chairman Keith Cowan and fired CEO Arthur T. Demoulas, who’s trying to buy the company outright from shareholders led by his rival cousin, Arthur S. Demoulas.
“I think everybody is interested in a sale,” Patrick said. “My understanding is they either have an understanding or are very close to price. They’re trying to work out some of the other terms.”
Market Basket warehouse and headquarters workers walked off the job on July 18 to pressure the chain’s board to reinstate the former CEO, who was fired in June, a year after Arthur S. Demoulas gained control of the board.
“Usually companies are able to buy and sell each other without workers walking off the job and saying they’re not going to work unless they get the boss of their choice,” Patrick said. “And, frankly, I think everybody involved is disappointed it has come to this.”
Market Basket’s three independent board directors this afternoon issued a statement, applauding Patrick’s call for Market Basket associates to resume working.
“We, as independent board members, cannot force any shareholders to buy or to sell, nor can we control the timing of their decisions,” the independent board members said in a statement. “All we seek is to get our associates back to work earning a steady income so our customers can go back to shopping. Playing with fire that will hurt us all – associates, customers and communities – is a no-win situation, and we all need it to end. It’s well past the time when anyone can frame the crisis as ‘us vs. them,’ or a ‘family feud.’ There are too many families being impacted by this.”
