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Rescooped by Deb Nystrom, REVELN from Change Management Resources
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Workers fight for culture, wages and win: Demoulas, reinstated as CEO, Market Basket

Workers fight for culture, wages and win: Demoulas, reinstated as CEO, Market Basket | Change Leadership Watch | Scoop.it

Boston Herald: TEWKSBURY, MA — Arthur T. Demoulas was reinstated as CEO late last night after a two-month standoff over his firing that saw rank-and-file workers walk off their jobs and customers jump to competitors in protest — thanked his workers this morning, hours after his historic purchase of the company.

   

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“You taught everybody that Market Basket is a place where respect, honor and dignity is a way of life.” ~ Arthur T. Demoulas, reinstated CEO, Market Basket

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"You are simply the best,” Demoulas said …There is very little I can ever add to your brilliant work…and the power of your enduring human spirit over the past six weeks.”

    

Early this morning, a massive fleet of delivery trucks lined up ready to roll and hundreds of ecstatic employees reported to work for the first time in weeks....heralding the return of a boss they said had provided generous pay and benefits and a culture of respect for workers.


“You taught everybody that Market Basket is a place where respect, honor and dignity is a way of life,” Demoulas told his workers. “You displayed your unwavering dedication and desire to protect the culture of your company...You have demonstrated that everyone has a purpose....that no one person holds a position of privilege.”

   

The chain employs 25,000 workers in Massachusetts, Maine and New Hampshire.  [It was worth] $4 billion before Arthur T.’s June 18 firing touched off a customer boycott and employee walkouts.  [It] racked up millions in losses and shelves were left empty due to a halted supply chain.

   

Demoulas said he hopes to take less than two weeks getting shelves restocked and stores back to some semblance of normalcy.


Click the title or photo to see the full story.

    

Related posts by Deb:

    

Revelation, Leadership Integrity at All Levels

    

Company Priorities Reveal People Values and Forecast Long Term Profitability

      

6 Steps Beyond Industrial Age Performance Appraisals

    

Think like an Entrepreneur: Be Anti-Fragile No Matter Where You Work

   

  • Stay in touch with the monthly Best of the Best news, taken from Deb's  multi-gold award winning curation streams.  Preview it here, via REVELN Tools.

        

  • Are you local to SE Michigan?  Find out more about horse-guided leadership development sessions (no fee demos) for individuals by contacting Deb, after reviewing her coaching page here.  
Deb Nystrom, REVELN's insight:

I haven't heard of a worker celebration like this since Henry Ford doubled wages and in effect, created middle class prosperity. Maybe more companies will take notice of employee ownership successes like these, also like Costco and Zingerman's in Ann Arbor.

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Deb Nystrom, REVELN's curator insight, August 28, 2014 12:49 PM

I haven't heard of a worker celebration like this since Henry Ford doubled wages and in effect, created middle class prosperity. Maybe more companies will take notice of employee ownership successes like these, also like Costco and Zingerman's in Ann Arbor.

Scooped by Deb Nystrom, REVELN
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Revealed – the 147 Companies That Run the World | Forbes & New Scientist

Revealed – the 147 Companies That Run the World  |  Forbes & New Scientist | Change Leadership Watch | Scoop.it

An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.


The study's assumptions have attracted some criticism, but complex systems analysts contacted by New Scientist say it is a unique effort to untangle control in the global economy. Pushing the analysis further, they say, could help to identify ways of making global capitalism more stable.
 

The idea that a few bankers control a large chunk of the global economy might not seem like news to New York's Occupy Wall Street movement, ...but the study, by a trio of complex systems theorists at the Swiss Federal Institute of Technology in Zurich, is the first to go beyond ideology to empirically identify such a network of power. It combines the mathematics long used to model natural systems with comprehensive corporate data to map ownership among the world's transnational corporations (TNCs).

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"If connectedness clusters, so does wealth, ...
money flows towards the most highly connected members." ~ Dan Braha of NECSI

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"Reality is so complex, we must move away from dogma, whether it's conspiracy theories or free-market," says James Glattfelder. "Our analysis is reality-based."

From the Forbes summary version of this post:


... the data set...excludes GSEs and privately-held companies and is dominated by banks, institutional investors and mutual funds that don’t always have much in the way of control over assets.


Forbes reader danogden ...commented: “…pension plans, corporate 401(k) plans and individual funds..manage trillions in assets ultimately belonging to individuals who are predominantly not in the “1%”. …


...“custodian banks” in the list — companies who hold the assets of asset managers to ensure timely processing of things ...do not own the assets, or even really control [them.] A better list would be the actual asset OWNERS, rather than the vendors who manage, house and clear said assets.”


 If connectedness clusters, so does wealth, says Dan Braha of NECSI: in similar models, money flows towards the most highly connected members. 


...The real question, says the Zurich team, is whether it can exert concerted political power. Driffill feels 147 is too many to sustain collusion. Braha suspects they will compete in the market but act together on common interests. Resisting changes to the network structure may be one such common interest.


 

Deb Nystrom, REVELN's insight:

Complexity science is a window to understanding nature as well as ourselves in a global system.  This article is blend of two, from the original New Scientist post from 2011, and from a Forbes summary that was listed on LinkedIn today, September 2013.  ~  Deb

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Jim Allen, III's curator insight, September 13, 2013 10:26 AM

They didn't dig deep enough into who heads, runs, and holds most interest in these companies and the number will be closer to 12 families.

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Doing Well by Doing Good: Michigan's Fave Food Brand Converts $50 Mil Business Into Worker-Owned Co-Op

Doing Well by Doing Good: Michigan's Fave Food Brand Converts $50 Mil Business Into Worker-Owned Co-Op | Change Leadership Watch | Scoop.it
Zingerman's Community of Businesses is a staple of Ann Arbor, and it's achieved great success through highly unorthodox practices.


The flagship deli, founded in 1982, is now just one of nine businesses in the Zingerman's Community of Businesses, which also includes a bakery, creamery, candy company, and restaurant.


These businesses are founded on a unique philosophy without traditional business hierarchy.  Zingerman's emphasize collective decision-making.  [Now] ...the company is on track to make $50 million this fiscal year.


A worker co-op is an old business model that has seen renewed interest post-recession due to a lack of investors creating jobs in communities.


Zingerman's has been focused on getting its employees to think like owners long before hard economic times.

Deb Nystrom, REVELN's insight:

Employees who think as owners?   What a concept - that's been around for ages, just not implemented widely.  Here's why it is working, from the article:

   

  • Open-book management:  even the lowest-level employee will work better if they know how the company is doing financially and should have a stake in its success.
        
  • Weinzweig and the 17 other partners, who act as managers, want to find a way to get employees involved in the consensus, rather than just sitting in to ask questions and offer insight. ....Essentially, that could give someone like [a] new part-time employee as much voting power as the CEO.
        
  • Weinzweig thinks that traditionally managed organizations, in which executives operate in a different sphere from their employees, "are operating with about 5% of their intellectual and creative capital, which really doesn't make sense."
    
It's a competitive, global world now, and traditional management, born out of the wide open markets of the industrial age, are no longer as competitive without the insights of all stakeholders, especially staff / employees.
    
~  Deb
more...
Deb Nystrom, REVELN's curator insight, June 20, 2014 7:33 PM

As I commented originally on Change Leadership Watch:  Employees who think as owners?   What a concept - that's been around for ages, just not implemented widely.  Here's why it is working, from the article:

   

  • Open-book management:  even the lowest-level employee will work better if they know how the company is doing financially and should have a stake in its success.
        
  • Weinzweig and the 17 other partners, who act as managers, want to find a way to get employees involved in the consensus, rather than just sitting in to ask questions and offer insight. ....Essentially, that could give someone like [a] new part-time employee as much voting power as the CEO.
        
  • Weinzweig thinks that traditionally managed organizations, in which executives operate in a different sphere from their employees, "are operating with about 5% of their intellectual and creative capital, which really doesn't make sense."
    
It's a competitive, global world now, and traditional management, born out of the wide open markets of the industrial age, are no longer competitive without the insights of all stakeholders, especially staff / employees.
    
~  Deb