The Market Basket saga continues. The latest is that Governor Deval Patrick is calling for workers to return to their jobs, but that position seems to reflect the Arthur S. Demoulas side of the feud, and Patrick’s wife works for the law firm that represents Arthur S.
Apparently, Arthur T. made an ill-timed 2008 investment of the $46m employee trust fund in Fannie Mae and Freddie Mac stock.
http://www.theguardian.com/money/2014/aug/14/market-basket-arthur-millions-investing-protests
The timing of the investment was disastrous. Only months after Demoulas poured Market Basket’s profits into Fannie and Freddie, the US government took over the two companies, wiped out their preferred stock so that it was worth zero, and made them wards of the state. The upshot: Market Basket’s entire profit-sharing plan was lost in the stock market…