Viewpoint
Recruiting Call to Barack Obama
“Good Morning Barack. Bob Gershberg, Managing Partner of Dick Wray Executive Search reaching out today to tell you about a search we are conducting for a rather exciting CEO opportunity. Some would say it is the best job in the world. But you know me Barack, I’m not going to blue sky you – it definitely has its challenges. The client is clearly looking for a change agent and although they preach diversity and inclusion, truth is the position has always been held by white guys. The base comp is not great but the perquisite package is quite substantive. They even give you a 55,000 square foot home to live in- full relo but not sure they’ll cover closing costs on your Chicago home. Then again, I heard you got an awesome deal on that one so you’ll probably want to keep it. You will have some clean-up issues to deal with as the incumbent has racked up a bit of a deficit. At last count the deficit was approaching $1 trillion with debt of roughly $10.5 trillion. You will also have to deal with a rather disparate board (they call it Congress) and a very diverse group of stakeholders. The board has some members you may view as hostile but a large percentage at this point will be in your corner, albeit they are not the always thought to be the smartest of folks.”
Leadership
WHEN GREAT LEADERS and companies get off track, they recognize the problems and get back on track quickly. When you stray, how can you get back into the winner’s circle?
FYI Candidates
Leverage Your Age:How Mature Generations Can Position Themselves in the Competitive Job Market
When it comes to a slowing economy, the truth is there are no guarantees for any of us on how secure our job may or may not be…regardless of age or tenure within an organization.
Executive Movements
The parent of the RUTH’S CHRIS STEAK HOUSE said it promoted KEVIN TOOMY to senior vice president and chief operating officer of the Ruth’s Chris brand. Toomy previously was special-projects vice president of Ruth’s Hospitality.
CARIBOU COFFEE CO. has hired Yum! Brands veteran ALFREDO MARTEL as senior vice president of marketing, and Starbucks veteran DANIEL HURDLE as senior vice president of supply chain, product management and real estate development.
DAVID GORONKIN has resigned as president and chief executive of REDSTONE AMERICAN GRILL, the five-unit upscale-casual chain. Goronkin was president and CEO of Famous Dave’s of America Inc. for four years until he resigned last December to take the position at Redstone.
PETER PIPER INC., owner or franchisor of 139 pizza restaurants, has named JOSEPH LUONGO JR. president and chief executive. He replaces FRANK SBORDONE, who left Peter Piper earlier this month.
Financial Overview
RUTH’S HOSPITALITY GROUP INC. said its prior full-year profit outlook is “no longer a realistic goal” as sales for the upscale steakhouse and seafood chain operator dip lower as 2008 grinds to a close.
CARROLS RESTAURANT GROUP INC., a 317-unit BURGER KING franchisee and the parent of 89 POLLO TROPICAL and 153 TACO CABANA restaurants, on Tuesday reported a 24-percent drop in third-quarter profit, blaming increased costs in its BK division and slowed sales from hurricane-related closures among the other brands.
BURGER KING HOLDINGS INC. posted a lower-than-expect 2-percent increase in first-quarter profit, blaming increased costs that offset a 12-percent surge in revenue, largely from openings of restaurants, new late-night hours and the launch of such products as nonfried Fresh Apple Fries.
THE CHEESECAKE FACTORY INC. on Thursday reported a 36.4-percent decline in third-quarter net profit to $11.8 million, or 19 cents per share. It earned $18.5 million, or 26 cents per share, a year earlier.
BUFFALO WILD WINGS INC. said increased same-store sales and new restaurant openings helped drive its 7.1-percent rise in third-quarter net profit. Same-store sales rose 6.8 percent at corporate units and 2.1 percent at franchised units