The Only Reason I'm Not Boycotting Market Basket Is...

... There isn't one in my neighborhood.

But as a native Bay Stater, I've been following the extraordinary story of grocery workers rallying for an ousted CEO (A good summary of the current situation, in yesterday's New York Times, is here; article by Katharine Q. Seelye and Michael J. de la Merced; the actions were also covered by WBUR's On Point radio program today, here).

I drove by the Gloucester MA Market Basket store over the weekend and found that while the nearby rotary had several employees holding up "Honk if you love Artie T." signs, the store's parking lot, designed for hundreds of cars, held fewer than ten.

The Market Basket story has elements of a soap opera (or a Russian novel), with feuding cousins threatening the structure of an entire business on which thousands depend. The chain was founded about a century ago by Greek immigrants, and has grown to 71 stores in Maine, New Hampshire, and Massachusetts. Control has passed to grandchildren, two of whom (Arthur _T._ Demoulas and Arthur _S._ Demoulas) have been fighting for control. Arthur T., who had been president, was forced out in June, and Arthur S. took over, bringing in two "co-chief executives", and apparently exploring options for the sale of the chain.

Market Basket workers made their feelings about "Artie T." clear, and were joined by Market Basket customers, who honored the workers' requests to boycott the store. While many line cashiers and stockers are still showing up for work, they have less and less to do, as few customers are buying, and shelves are empty, as Market Basket warehouse employees are refusing to deliver goods to the stores. The chain is said to be losing millions in sales each week.

Joined by store managers and mid-level executives (several of whom were fired after organizing the first protests), the action is unlike any other workplace disruption seen -- the 99%, if you like, protesting for a member of the 1%.

Boston's WBUR (full article, here) interviewed an assistant produce manager who was protesting: Why was he there? His reply was:

I have concerns, but at the same time I will take the risk because this company has provided me with everything I’ve needed for the last 11 years. Artie T. has made the company what it is. He’s genuinely interested in the associates as well as the customers.

 What's going on here? Just a summertime tizzy? I don't think so. As an opinion piece in the Lowell (MA) Sun noted (here), customers are standing with the protesters, it wasn't just about the "fair prices" for which Market Basket was known:

Market Basket was and is a real place. A place where an actual human being rings up your groceries instead of those stupid, soulless, self-scan aisles. A place where the kid from your neighborhood shows you where an item is. A place where the store manager says hi to you by name and blurts out the weekly specials over the intercom: "Attention, Mah-ket Basket shoppahs." 

And the attention that the workplace action is getting is only increasing. The Sun writer added: 

This is about something much bigger than Market Basket employees or customers now. This is about the middle class having a chance. This is about America.

As many of you know, I argue regularly against "shareholder value" as the be-all and end-all of capitalism. I've written about it often (e.g. here, and, most recently, here). Positive results for shareholders aren't just about this quarter's share price. They're about the long-term. And for that you need well-paid and -trained employees, and loyal customers. Which Market Basket had, in spades. It's a shame the board of directors didn't realize the value of what they had.