The Big News
OSI drops credit card fee for servers
TAMPA , Fla. Outback Steakhouse parent OSI Restaurant Partners Inc. has reportedly dropped its plan to deduct credit card processing fees from servers' tips at restaurants in Arkansas and elsewhere
Viewpoint
Predictions for 2008 for the Restaurant Industry
Sluggish Sales Growth Will Continue For 2008. The restaurant industry overall will see
very conservative growth across all segments (casual, quick casual, quick service and
fine dining). According to NRA estimations, the industry will see only a 0.9% sales growth
for 2008.
Networking
How do I love LinkedIn? Let me count millions of ways
I am as giddy about LinkedIn.com as a schoolgirl with a MySpace account. Many restaurant industry executives have also jumped on the bandwagon, judging by the increasing number of “Invitations to Connect” in my inbox every month.
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Relo
The Things We Do for Love
As I've told some associates by now, I've recently relocated from my long-time base of Santa Cruz, CA, to Minneapolis, MN. If you're thinking a man might be involved in this Northern migration, you're right.
Executive Movements
TOM LARRANAGA has been named publisher of NATION´S RESTAURANT NEWS, succeeding ALAN GOULD, who has resigned to work with several non-profit and educational groups.
MINNEAPOLIS - WALLACE B. DOOLIN has resigned as chief executive of casual-dining operator BUCA INC. as part of a 13-percent, $2.1 million cut in the company's headquarters payroll, Buca said Tuesday.
Financial Overview
CALABASAS HILLS, Calif. - THE CHEESECAKE FACTORY INC. reported a 34.8-percent decline in fourth quarter earnings to $13.3 million Tuesday while slashing its plans for new restaurant openings and divulging a 0.4-percent dip in same-store sales for the quarter, though revenue rose 13 percent to $406.3 million.
DUBLIN, Ohio — WENDY´S INTERNATIONAL INC. on Monday said its fourth-quarter profit more than quadrupled to $14.1 million, or 16 cents a share, compared with $3 million, or 3 cents a share, in the prior fourth quarter, when charges were taken for the spinoffs of Tim Hortons and Baja Fresh Mexican Grill.
CALABASAS HILLS, Calif. - CALIFORNIA PIZZA KITCHEN INC. has reached an agreement with BANK OF AMERICA N.A. to enable an accelerated stock repurchase program totaling $46.3 million and to increase CPK´s credit facility to a maximum of $100 million.