Quote:
Originally Posted by LuvNH
Don't you think that is gouging people in TV? I think prices in TV are higher than in some other areas of the country. I am with family in NH for the summer and Market Basket prices are excellent.
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Food prices are definitely coming down around us. What surprises me is this area of NH is very affluent, and yet food prices are very affordable. It makes no sense to me, but I am not an economist.
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Market Basket is an anomaly. They are privately owned and had a very public family war over control of the chain. One side wanted to treat it like a corporation and the other wanted to treat it like a family member. Eventually the corporate slugs were bought out.
Market Basket can undercut Shaws and Hannafords here because they are not beholden to shareholders to maximize revenue. They can make a fair profit and be happy with that while paying their employees a fair wage. You just don't see nametags at the other supermarkets saying they have over 20 years at the store. That says something.
There was a famous strike that went on during the 'kerfuffle' and people supported the strike by simply not going there. Artie (the non-corporate family member) ended up winning because of the loyalty of the employees and customers. I've never seen anything like it, personally, in my lifetime.