
Teddy Panos
InsideChelmsford
Gerry Nutter
Special Guest Contributor
InsideLowell
InsideLowell
InsideLowell
Special Guest Contributor
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Lowell’s renaissance has been well-documented as having several key parts: Federal, state and local governments working in unison; a strong public education sector, including Middlesex Community College and UMass-Lowell; a thriving business community; and a strong non-profit sector. Another key element is the media. Over the years journalists at The Sun and WCAP have worked hard to provide the role of watchdog while also entertaining readers and listeners with features, public service announcements and community news coverage. For a multitude of reasons, however, local news coverage has shrunk. That’s why the Panos effort is so key: Another eye on City Hall, town halls, the business community and various non-profits will keep all leaders, whether elected or appointed, on their toes. That’s a good thing. Not that it needed any legitimacy, but Inside Lowell serves up an even stronger hand with Dan Phelps and Patrick Cook, both former Sun journalists, on board. Good luck to the new venture!
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Did you read the ruling? If you do, you will see that the narrative of the “greedy” sisters spun by Arthur T is completely false. The court ruled as it did based on evidence presented at trial. On multiple points, the ruling explicitly says that Arthur’s testimony was not credible. The court did not dispute that the company was profitable under Arthur, but his repeated behavior in matters of governance, despite multiple opportunities given to him over several years to change those behaviors, compelled the board to exercise their fiduciary duty to act in the best interests of the company. Arthur’s sisters bailed him out in 2014 by agreeing to buy the company from Arthur S Demoulas. They rightfully own a significant share and should have a say in its future, which according to the evidence, Arthur refused to do. Mike Demoulas was their father, too so Market Basket is their shared legacy, despite Arthur’s view that he and his family were entitled to it all because he was the CEO. I am sure he was very well compensated for his work as CEO, as he should have been and the next CEO will likely be well compensated, too. Read the ruling and then decide who was greedy.
- Annmarie