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We Are Market Basket: A True Story of Resilience, Unity, and the Power of Community

Nick Turner

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Published in We Are Market Basket: The Story Of The Unlikely Grassroots Movement That Saved A Beloved Business

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In the annals of business history, the story of Market Basket stands as a remarkable testament to the power of employee ownership, community spirit, and the unwavering determination to stand up for what is right.

We Are Market Basket: The Story of the Unlikely Grassroots Movement That Saved a Beloved Business

by Daniel Korschun

4.6 out of 5

Language	:	English
File size	:	2597 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
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Print length	:	270 pages
Screen Reader	:	Supported

For over seven decades, Market Basket, a family-owned grocery chain in New England, was known for its low prices, friendly employees, and loyal customers. But in 2014, the company faced a crisis that threatened to tear it apart.

The Demoulas Brothers and the Descent into Conflict

Arthur T. Demoulas, the beloved patriarch of the Market Basket family, had passed away in 2012, leaving the company in the hands of his two sons, Arthur S. and Arthur T. Jr.

Arthur S. Demoulas, known as "Artie S.", had been running the day-to-day operations of Market Basket for nearly two decades. He was a hands-on leader, respected by employees and customers alike.

Arthur T. Demoulas, Jr., known as "Artie T.", had been living in Florida and was less involved in the business. However, he held a majority stake in the company and was determined to exert more control.

The tension between the brothers escalated in 2014, when Artie T. fired Artie S. and replaced him with his own handpicked CEO. This move sparked outrage among employees and customers, who saw it as an attack on the company's culture and values.

Employee Uprising and Customer Boycott

Led by longtime Market Basket employees, a grassroots movement emerged to demand Artie S.'s reinstatement. Employees staged protests, distributed leaflets, and rallied outside the company's headquarters.

Loyal customers, who had come to rely on Market Basket's low prices and friendly service, joined the boycott. They refused to shop at the stores until Artie S. was brought back.

The boycott had a devastating impact on Market Basket's sales. Within weeks, the company was losing millions of dollars per day.

The Power of Unity and the Return of Artie S.

Faced with mounting losses and the unwavering support of employees and customers, Artie T. had no choice but to back down. He reinstated Artie S. as CEO and sold his majority stake in the company.

The triumphant return of Artie S. was met with jubilation by employees and customers. Market Basket sales rebounded quickly, and the company emerged from the crisis stronger than ever.

Lessons Learned from the Market Basket Saga

The story of Market Basket holds valuable lessons for businesses, employees, and customers alike.

Employee ownership and empowerment are powerful drivers of success. When employees feel invested in the company, they are more likely to go the extra mile and contribute to the overall well-being of the organization.

Customer loyalty is a priceless asset. Businesses that value their customers and treat them with respect will be rewarded with repeat business and positive word-of-mouth.

The power of collective action can be transformative. When individuals come together for a common cause, they can achieve extraordinary things.

The Legacy of "We Are Market Basket"

The story of Market Basket has been chronicled in the bestselling book "We Are Market Basket" by Kurt Andersen. The book provides a gripping account of the crisis and the remarkable resilience and unity that saved the company.

The book has received widespread acclaim for its insights into corporate greed, employee empowerment, and the indomitable spirit of a community. It is a must-read for anyone interested in business, history, or the power of human resilience.

The legacy of Market Basket is one of success, innovation, and ethical leadership. The company has continued to thrive in the years since the crisis, and it remains a beloved institution in New England.

The story of "We Are Market Basket" is a reminder that even in the face of adversity, the power of unity and the unwavering commitment to a shared purpose can overcome any obstacle.

We Are Market Basket: The Story of the Unlikely Grassroots Movement That Saved a Beloved Business

by Daniel Korschun

4.6 out of 5