Market Basket workers plan to walk off job
Some workers at the Market Basket supermarket chain plan to walk off the job today to protest the firing of their former boss at the company's Tewksbury headquarters.
Employees loyal to former CEO Arthur T. Demoulas had written to the new co-chief executives demanding his reinstatement and an answer by 4:30 p.m. yesterday.
Demoulas, a member of the family that owns the privately held chain, lost his job in a long-running battle with a cousin for control.
The new CEOs, Felicia Thornton and Jim Gooch, said in a letter to workers yesterday that those who walk off the job could be fired.
They said the power to reinstate Demoulas lies with the board that fired him in June. The board plans a telephone conference Monday to discuss the workers' demand. Employee representatives were invited to participate.
Back-to-school spending may drop
Northeast families with kids in kindergarten through grade 12 will spend an estimated average of $697.38 on back-to-school purchases of clothing, shoes, supplies and electronics this year — about 3 percent less than in 2012, according to a National Retail Federation survey.
But those households still will dole out the most on their children's school needs compared to other U.S. regions.
One reason for the decline could be that local students already are armed with the latest gadgets.
Mass. jobless rate dips to 5.5 percent
The Massachusetts unemployment rate dipped to 5.5 percent in June, the lowest level in nearly six years, the state office of Labor and Workforce Development reported yesterday.
Preliminary estimates from the federal Bureau of Labor Statistics showed Massachusetts picked up 3,700 jobs last month, officials said.
The latest state report indicated that manufacturing continued to be a soft spot in the Massachusetts economy. The manufacturing sector lost 1,100 jobs in June, and has lost a net 1,600 jobs over the past 12 months.
Fox willing to pay $75B for Time Warner
Twenty-First Century Fox Inc. is willing to pay more than $75 billion for Time Warner Inc., according to people with knowledge of the matter, a sign Rupert Murdoch is undeterred after being rebuffed in an initial offer for the media company. Time Warner shares soared.
- Vantage Builders Inc., a general contracting and construction firm based in Waltham, has announced that Ryan LaVangie, left, has joined the firm as senior vice president of sales and marketing. Before joining the firm, he served as the regional manager for Kimball Office, responsible for a sales team covering the New England and Canada markets.
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