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Why cry for Miki's market

Original post made by Jonathan, Barron Park, on Aug 29, 2013

According to the daily post he owes $2.1m in debts to suppliers, landlord and Palo Alto utilities.
However, for the first three months of business Miki paid himself $12000/month then he gave himself a 50% raise to $18000/month then $6000/month then $0.
Creditors have every right to cry foul and get their money back!

Comments (7)

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Posted by CrescentParkAnon.
a resident of Crescent Park
on Aug 30, 2013 at 2:25 am

> Creditors have every right to cry foul and get their money back!

Why? Are you citing a legal argument or just saying it does not seem fair?

I'm thinking there was more to the story. I thought it was mentioned in other articles that he got tax and rent breaks to bring a market into that location. I don't think giving up his salary would have made a difference, the business just did not work out.

$6000 a month is 72,000 a year,
$12,000 a month is 144,000 a year and
$18,000 a month is $216,000 a year.

For someone making that kind of commitment and taking that kind of risk I don't think that is too much to expect to earn, though it does seem clear he was not in it for the long haul.

One has to wonder what was the real story behind this business?

I wonder how Fresh Market is doing. I rarely see it very busy, but there are always a few people in there. I hope it does not die like Miki's.

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Posted by anotherwilbitehedust
a resident of Midtown
on Aug 30, 2013 at 11:39 am

Fresh Market won't last, it's dead in there all the time and I should know I go in every other day. It'a beautiful store and the bulk area is fun and the Meat department is beautiful love the dried green beans and okra. The bulk coffee is delicious too. Breads are great and salad bar. But business needs to pick up or they will be the third strike out for palo alto. I would like to know where did these numbers come from where did the source come from. Very interesting I wonder if I could get a copy of the Cresentparkano. source of income and post that for all too see??? Hmmmm? Funny how much time is spent on pointing fingers at small businesses and not directly going to the source of the developer who hooked Michael into the building. Michael did not have enough lawyers nor investors to help him. [Portion removed.]

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Posted by musical
a resident of Palo Verde
on Aug 30, 2013 at 2:03 pm

I went into Miki's once, just to see it when it opened. Nice store, claustrophobic intimidating access. The location was roomy and inviting in the old Lucky days, where I dropped in a thousand times as a kid to buy odds and ends or on family shopping trips. But maybe that's the rose-colored glasses of nostalgia.

Fresh Market is off my beaten path, but I stop in sometimes on excursions to the Baylands, taking advantage of that $5-off coupon on a $20 purchase they mail out regularly. Great deli sandwiches. Nice selection of fresh fruit. But sadly they won't stay in business on my patronage.

Agree with CrescentParkAnon. I suspect Miki was putting in 80-hour weeks, and don't know whether he paid himself anything for the months of effort before the store opened. Probably more to the story than we'll ever know.

Grocery Outlet? That'll be interesting . . .

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Posted by Need down to earth
a resident of Duveneck/St. Francis
on Aug 31, 2013 at 2:31 pm

Agree about Fresh Market - it is beautiful but needs to be more down to earth and carry what people need. For rich folks who can shop at the deli and meat counters, great for them.
For those who want lower prices and store brands that are cheaper, this isn't the place. Bread $4 a pound, Eggs 2.99 for a half-dozen, fifty kinds of rice, very few basics. Not for me, thanks.

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Posted by Not an issue
a resident of Community Center
on Aug 31, 2013 at 2:41 pm

Need down to earth--- the ship has sailed on having a grocery store with what people really need in palo alto. For too long we let the JJ&F/CT crowd control the grocery stored debate in the city-- nothing big allowed that will provide healthy competition. So we end up with boutique, pricey stores that do not carry the staples. Forget about the midtown Safeway--- small, dingy and under stocked. And as we learned from Mikis-- there is little need for stores selling $40/ pound cheese.
Anyway, why would any large store want to deal with the palo,alto process. They just build on the border and the shoppers will flock,there.
I hope fresh market makes it-- we will see. It will be nteresting to see if grocery outlet does well-- if it does then the whole palo alto attitude regarding grocery stores will be discredited.
The other thing already long discredited is all the talk of walkable neighborhoods.

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Posted by CrescentParkAnon.
a resident of Crescent Park
on Sep 3, 2013 at 10:04 am

> The other thing already long discredited is all the talk of walkable neighborhoods.

Yeah, seems lately when you go for a walk in Palo Alto these days you run a high risk of armed robbery.

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Posted by Neighbors Helping Neighbors
a resident of Midtown
on Sep 3, 2013 at 12:39 pm

Dear Neighbors,
Why is it important to keep lobbying for more affordable grocery stores to shop in Palo Alto?
Those housed at risk 'neighbors in need' and unhoused folks travel to up to 12 stores outside Palo Alto to get prices they can still barely afford. And many are simply going without because they can't afford the gasoline or public transit. Many tell our volunteer counselors they stopped shopping at Safeway two years ago. Even with sale prices they can not afford meats, diary or produce.
Milk Pail, Mi Pueblo and Sprouts are the top three reported to be the nearest stores for affordable sale prices. Plus, Walgreens and CVS offer low sale prices on some food items.
If you know of anyone who is struggling, please have them contact us.

                                          What We Do:
We are a group of volunteers striving to provide groceries to Palo Alto families, seniors and singles who are unable to qualify for 'safety net' programs like Cal Fresh (formally food stamps) or food closet assistance. However, extra food items collected are given to local food closets. Also, our City of Palo Alto Family Resources trained volunteers provides peer counseling (form of case management) and referrals for other life's challenges (housing, healthcare, professional counseling, legal issues, etc.) for those who may need extra help.

Palo Alto Weekly article, "Catching neighbors who fall through the gap." Dated Friday Jan. 25, 2013
Web Link

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