|
Have you ever seen an Arby's shut down for something other than health reasons?
|
#
?
Sep 26, 2018 17:53
|
|
|
|
| # ? Apr 16, 2024 20:33 |
|
|
Lack of hats?
|
|
#
?
Sep 26, 2018 17:56
|
|
|
Pope Corky the IX posted:Lack of hats? https://www.youtube.com/watch?v=ZC8BvC0PNpI
|
|
#
?
Sep 26, 2018 18:04
|
|
|
vyst posted:Have you ever seen an Arby's shut down for something other than health reasons? The Arby's nearest to me was closed for almost two months for 'renovations' and then was reopen for about a week and now it's closed again for 'renovations' and they've got the whole parking lot pulled up
|
|
#
?
Sep 26, 2018 18:10
|
|
|
So either sewage or gas lines or attempted unionization
|
|
#
?
Sep 26, 2018 18:32
|
|
|
Papa John's founder, John Schnatter, is reaching out to private equity firms as he eyes buying back his companyquote:The ousted founder of the Papa John's pizza chain has reached out to a number of private equity firms in recent weeks to discuss partnering in a bid to buy the company, sources familiar with the situation told CNBC.
|
|
#
?
Sep 26, 2018 18:32
|
|
|
Doggles posted:Papa John's founder, John Schnatter, is reaching out to private equity firms as he eyes buying back his company I'm pretty sure I read that the other shareholders have already introduced a poison pill to prevent exactly this from happening.
|
|
#
?
Sep 26, 2018 18:42
|
|
|
Okay I know he was an rear end in a top hat and said racist poo poo in a conference call but I feel like there’s gotta be worse stuff out there if, in THIS environment, investors fear for their reputations if they invest with him.
|
|
#
?
Sep 26, 2018 20:14
|
|
|
He also publicly blamed their slowing pizza sales on the NFL not taking care of the whole BLM/kneeling thing when it first started. And said that the ACA would directly lead to an increase in costs for the consumer.
|
|
#
?
Sep 26, 2018 20:19
|
|
|
Pope Corky the IX posted:He also publicly blamed their slowing pizza sales on the NFL not taking care of the whole BLM/kneeling thing when it first started. His house is also a nouveau riche McMansion abomination
|
|
#
?
Sep 26, 2018 20:22
|
|
|
Gynocentric Regime posted:His house is also a nouveau riche McMansion abomination It's a castle
|
|
#
?
Sep 26, 2018 20:23
|
|
|
Iron Crowned posted:It's a castle No, it isn't. It couldn't withstand a siege by the present-day members of Monty Python.
|
|
#
?
Sep 26, 2018 20:25
|
|
|
Vincent Van Goatse posted:No, it isn't. It couldn't withstand a siege by the present-day members of Monty Python. I didn't say it was a good one
|
|
#
?
Sep 26, 2018 20:29
|
|
|
Pope Corky the IX posted:I'm pretty sure I read that the other shareholders have already introduced a poison pill to prevent exactly this from happening. The board of directors instituted it but ya basically in the event of a hostile takeover the board will issue a bunch of shares to the other holders to make it substantially more expensive for him to takeover. I don't remember exact figures but it can easily double the cost to do a takeover.
|
|
#
?
Sep 26, 2018 20:53
|
|
|
Raldikuk posted:The board of directors instituted it but ya basically in the event of a hostile takeover the board will issue a bunch of shares to the other holders to make it substantially more expensive for him to takeover. I don't remember exact figures but it can easily double the cost to do a takeover. Excuse me, I meant the board did it to protect the other shareholders, my apologies.
|
|
#
?
Sep 26, 2018 20:54
|
|
|
I thought you meant that they had suborned one of his personal chefs to poison him if he tried.
|
|
#
?
Sep 26, 2018 23:28
|
|
|
And now I’m really disappointed.
|
|
#
?
Sep 26, 2018 23:44
|
|
|
It might be something that poors will never understand, but what is his loving problem? The guy is wealthy enough that he will never want for anything ever again. Even if he ceased to earn money today generations of his family will be taken care of long after he dies. So why would he want to buy back his lovely pizza business? It's gotta be an ego thing and nothing more. I imagine him just stomping through the halls of his gaudy poo poo mansion ranting about how he got hosed and it's not fair. I'll bet he's got a room with nothing but tables covered in poo poo that he can upend angrily. Fuckin a man. Live your rich rear end life and let it go.
|
|
#
?
Sep 27, 2018 06:32
|
|
|
Grumbletron 4000 posted:It might be something that poors will never understand, but what is his loving problem? The guy is wealthy enough that he will never want for anything ever again. Even if he ceased to earn money today generations of his family will be taken care of long after he dies. *Attaches this post to an arrow, and affixes it to a giant wheel with 400 billionaires' names on it.
|
|
#
?
Sep 27, 2018 06:42
|
|
|
Grumbletron 4000 posted:It might be something that poors will never understand, but what is his loving problem? The guy is wealthy enough that he will never want for anything ever again. Even if he ceased to earn money today generations of his family will be taken care of long after he dies. Some people are just never, ever satisfied. He might also be looking at it like his company was stolen from him.
|
|
#
?
Sep 27, 2018 06:48
|
|
|
ToxicSlurpee posted:Some people are just never, ever satisfied. He might also be looking at it like his company was stolen from him. Gollem the Billionaire
|
|
#
?
Sep 27, 2018 14:32
|
|
|
A man like Schnatter has got a great big hole, right in the middle of him. He can never botox enough, or spend enough, or sell enough lovely pizza to ever fill it.
|
|
#
?
Sep 27, 2018 14:36
|
|
|
The business is literally his identity. What he's built is quite the accomplishment and odds are he's a type A personality who spent all his time at the office or at job functions. His sponsorship of the NFL meant he got to hang with football stars and get all kinds of perks. It's a harsh change to suddenly be cast aside. If I was his wife I'd hide his handgun. Or...if I was married to Papa John I'd buy more handguns and leave them all around the house and then go on a long vacation.
|
|
#
?
Sep 27, 2018 14:37
|
|
|
Sunswipe posted:A man like Schnatter has got a great big hole, right in the middle of him. He can never botox enough, or spend enough, or sell enough lovely pizza to ever fill it. There's a great (and depressing) documentary called "The Queen of Versailles," which brings some insight into that. Basically at some point in becoming rich your brain breaks and it's all about just acquiring more and more money. It doesn't matter that you're at a point that you no longer need to earn any money, you just keep doing it because it's what you do.
|
|
#
?
Sep 27, 2018 14:40
|
|
|
Bloomberg article about Sears trying what sounds like a final restructuring. Lampert is loading the company with more debt and making sure that his hedge fund gets paid first since they are the primary creditor. Basically Lampert wants to avoid bankruptcy which would make him way less money since in that situation other creditors end up walking away with more. But it sounds like Sears is at death’s door. https://twitter.com/lisaabramowicz1/status/1045293946459627520?s=21
|
|
#
?
Sep 27, 2018 14:47
|
|
|
You know when people say "It's not the money, it's the principle of the thing?" That's actually true for Schnatter. He's John loving Schnatter and NO ONE is going to tell him what he can and can't do with HIS company.Iron Crowned posted:There's a great (and depressing) documentary called "The Queen of Versailles," which brings some insight into that. Basically at some point in becoming rich your brain breaks and it's all about just acquiring more and more money. It doesn't matter that you're at a point that you no longer need to earn any money, you just keep doing it because it's what you do.
|
|
#
?
Sep 27, 2018 14:49
|
|
|
FlamingLiberal posted:Bloomberg article about Sears trying what sounds like a final restructuring. Lampert is loading the company with more debt and making sure that his hedge fund gets paid first since they are the primary creditor. Basically Lampert wants to avoid bankruptcy which would make him way less money since in that situation other creditors end up walking away with more. But it sounds like Sears is at death’s door. Theyre so very toast that theyre trying to hire new upper management by trying to get away with extremely low base pay and crazy high bonuses that only pay out in one years time, no quarterly vesting, and based on stock value.
|
|
#
?
Sep 27, 2018 14:51
|
|
|
https://twitter.com/CNBCnow/status/1045404862215835655
|
|
#
?
Sep 27, 2018 21:42
|
|
|
He’s seriously a huge moron and brought this on himself
|
|
#
?
Sep 28, 2018 00:44
|
|
|
FlamingLiberal posted:He’s seriously a huge moron and brought this on himself Eddie Lampert or Elon Musk? 
|
|
#
?
Sep 28, 2018 15:19
|
|
|
Pretty sure Lambert knows exactly what he's doing here
|
|
#
?
Sep 28, 2018 15:23
|
|
|
Goober Peas posted:Eddie Lampert or Elon Musk? 
|
|
#
?
Sep 28, 2018 15:27
|
|
|
Goober Peas posted:Eddie Lampert or Elon Musk? Although Lampert is not a moron in the sense that when Sears dies he will get the majority of the value.
|
|
#
?
Sep 28, 2018 15:31
|
|
|
Sears was always going to die. Lambert just maximized We can't ignore the fact that up until Lambert, Sears made the wrong choice every chance it got for decades. Had he not come on and started cost cutting, Sears would have kept on acting like it was another Wal-Mart and probably been gone by now. It should have been gone by now. Lambert being the single biggest guaranteed creditor is the only reason it keeps getting loans (from Lambert).
|
|
#
?
Sep 28, 2018 15:46
|
|
|
Krispy Wafer posted:Sears was always going to die. Lambert just maximized Shutting down the catalog store was probably the biggest pre-Lampert mistake made, especially since they were pioneers in online commerce before it was 'a thing'. The fatal, irreversible mistakes all happened on Crazy Eddie's watch. He was the proponent and instigator of the Wal-Martification.
|
|
#
?
Sep 28, 2018 16:02
|
|
|
With better management, Sears could have jumped onto the internet bandwagon way early. I assume they already had warehouses and poo poo from the catalog.
|
|
#
?
Sep 28, 2018 16:04
|
|
|
Randaconda posted:With better management, Sears could have jumped onto the internet bandwagon way early. I assume they already had warehouses and poo poo from the catalog. That's the thing - they were doing eCommerce on CompuServe in the early 1980s, then partnered with IBM to start Prodigy where they also had an eCommerce site. Both ran through their catalog stores. They were the bandwagon and jumped off -- then shut down their catalog distribution network instead of converting it to eCom. Those were two very big mistakes in hindsight, but definitely not fatal.
|
|
#
?
Sep 28, 2018 16:23
|
|
|
Goober Peas posted:Shutting down the catalog store was probably the biggest pre-Lampert mistake made, especially since they were pioneers in online commerce before it was 'a thing'. I dunno, I couldn't find when Lambert shelved the catalog division, but Sears stopped publishing their catalog years before that. Sears Holding was never good (I think they had one or two profitable years) but without the merger Sears would have still been losing money. Sears' fate was sealed when they got rid of their real estate, investment banking, and internet arms. It would have probably been sealed even without that, but at least there was a slight chance they could have competed with Amazon. I used Prodigy back in the day and that poo poo was ahead of its time. With Sears' inventory and logistics they could have been pumping out 2 day shipping for online orders back when Amazon was still struggling to mail books out of Bezo's apartment. Or they could have just been another Buy.com. Odds are best case scenario they were just another Buy.com.
|
|
#
?
Sep 28, 2018 16:23
|
|
|
Krispy Wafer posted:I dunno, I couldn't find when Lambert shelved the catalog division, but Sears stopped publishing their catalog years before that. Sears Holding was never good (I think they had one or two profitable years) but without the merger Sears would have still been losing money. Sears' fate was sealed when they got rid of their real estate, investment banking, and internet arms. It would have probably been sealed even without that, but at least there was a slight chance they could have competed with Amazon. You won't find it, because he didn't do it. It was done in 1994. Sears Holding was the outcome of the Sears K-Mart merger. 2005 and 2006 were the last profitable years. Sears was in fact profitable, though slowing prior to the merger.
|
|
#
?
Sep 28, 2018 16:50
|
|
|
|
| # ? Apr 16, 2024 20:33 |
|
|
Dont forget Sears also owned their own credit card company processor at one point. The business basically hosed itself out of every possible avenue for how to evolve its business despite having multiple different paths.
|
|
#
?
Sep 28, 2018 17:11
|
|