An easy fast to all those recognizing Yom Kippur today. After a narrow loss (and several gut-wrenching warning track fly outs) last night in New York, the Red Sox have a decisive Game 3 in their Wild Card playoff series against the Yankees tonight. Rookie lefty Connelly Early, who made his MLB debut less than a month ago, will be on the mound for the Sox. No pressure at all. But first, the news: MB beef: Three weeks after getting fired, former Market Basket CEO Arthur T. Demoulas is fighting in court to get his job back. Demoulas filed a counterclaim yesterday in a Delaware court, accusing his three sisters — who control 60% of the beloved grocery chain — of conspiring to push him out of the job in order to increase payouts to stockholders, including themselves. It also denies the allegations by Market Basket's Board of Directors that Demoulas — known as Artie T. among Market Basket fans — was planning a 2014-esque work stoppage. He isn't asking for any monetary damages, only for the Delaware Court of Chancery to reinstate him as CEO. - The back story: According to his 94-page court filing, the current tensions between Demoulas and his sisters began in the aftermath of 2014, when they helped him return as CEO and together take majority control of Market Basket. It says the sisters "grew uncomfortable with the recognition" Demoulas got from the 2014 saga and began to push for larger stockholder distributions and worked to limit the roles of Demoulas' two children, who had executive roles at the company. (Demoulas said he would recommend his kids step in if a new CEO was unexpectedly needed, but denied allegations that he "dictated" they permanently succeed him.) According to Demoulas, the dispute "deepened" around 2018 when two of the sisters' spouses asked for a $10 million buyout for winding down a real estate development company that did business with Market Basket. In the years after that, Demoulas said the sisters began replacing members of Market Basket's board with people loyal to them. You can read the full counterclaim here.
- The other side: In a statement, Market Basket's board said it was "unfortunate" that Demoulas had decided to "hurl untrue accusations at his family and the Board." The board denied what it called "outlandish and dramatic" accusations, reiterating its stance that Demoulas was fired for not listening to the board's directives, providing an annual budget or identifying potential successors other than his kids. "The Directors are committed to preserving Market Basket’s vitality, culture and service to customers and associates," the statement said.
- What's next: According to the board, a trial on the decision to fire Demoulas (as well as his counterclaims) is scheduled for mid-December in Delaware.
And then there were three: The Republican race to take on Gov. Maura Healey next year is getting a little crowded. Michael Minogue, a former medical device industry executive and GOP megadonor, jumped into the primary contest yesterday. He joins Baker administration alums Mike Kennealy and Brian Shortsleeve. - What's he running on? Minogue's campaign launch video highlights his time in the Army and as the CEO of Abiomed, where he created "thousands" of jobs and fought back against a proposed medical device tax in Congress. It says middle-class Massachusetts families are being "squeezed by higher costs" and "ignored by politicians." "What we need is a new kind of public servant," he said.
- What does his donation history say? Over the last two decades, Minogue has given thousands of dollars to local Republicans like former Gov. Charlie Baker and former Sen. Scott Brown, as well as some Democrats like Martha Coakley and Sen. Ed Markey. More recently, he has given hundreds of thousands to the national Republican party, including President Trump's 2024 campaign PAC.
FYI: The JFK Presidential Library and Museum in Dorchester is officially closed because of the federal government shutdown. The library's website says the shutdown has affected all National Archives facilities, and nearly all of its events have been canceled. It's very early, but...: As Rep. Seth Moulton continues to mull a Senate campaign, a new poll shows him with an edge over the incumbent Markey in hypothetical 2026 race. The survey of 750 likely Massachusetts voters released yesterday by the conservative Fiscal Alliance Foundation found Moulton with a 43%-21% lead over Markey among all voters. And importantly for the primary, his lead was 38% to 30% among Democratic voters. State House News Service has more on the findings here. P.S.— The first of our 2025 Makers features hits the air this morning, featuring a local "plant DJ" (more on that below). And you can still get tickets for Friday's celebration of the Makers at CitySpace, where you can meet the artists, enjoy food and drink, and see several special performances in person. And did we mention it's free? |
