The Big News
Dunkin' Donuts will be under new leadership in 2009, as longtime CEO Jon Luther will step aside and Nigel Travis, who departed Papa John's as president, becomes CEO of Dunkin' Donuts and Baskin-Robbins effective Jan. 9.
Viewpoint
Everybody Can Make Hay While The Sun Shines
Small plates and small profits needn't be the dominant industry trends for 2009 although I suspect tapas mania may be here to stay. As the dark clouds gathered through 2008 in both the global economy and our industry we did what any sane leaders might, we cut, cut, cut. Perhaps we needed to. Some would say we had gotten "fat and happy" in particular segments. Our menus were mired in mediocrity. We leveraged our companies to the hilt and in many cases lost our way in being true to our brands.
FYI Career Corner
Resignations and Counter-Offers
To leave, or not to leave...this should be the question. Instead, these days the average person is making a decision to leave their current company without deciding if what they really want is to leave their current job. Eventually it seems, people are forced to make that distinction when their employer makes a counter offer, making it appear more attractive to stay than to leave.
FYI Candidates
Change is Coming: Employment and the New AdministrationThe day after the election, the market plummeted in what analysts surmise was in anticipation of the challenges the new administration will have to face once it takes office in January including unemployment, the war in Iraq, and the economy in general. Was it a bad sign for things to come?
Executive Movements
O'Charley's Names Philip J. Hickey Jr. to Board of Directors - Former Chairman and CEO of RARE Hospitality International, Inc. Brings 33 Years of Restaurant Experience to the Board.
Bert Vivian Joins Rick Federico as Co-CEO of P.F. Chang's - P.F. Chang's China Bistro, Inc. (NASDAQ: PFCB) today announced that the Company's President, Robert Vivian, will assume the role of co-CEO along with his longtime friend and business partner, Rick Federico, effective immediately.
California Pizza Kitchen, Inc. (Nasdaq: CPKI) today announced that Sue Collyns has been appointed Chief Operating Officer and Executive Vice President. Ms. Collyns will maintain her position as the Company's Chief Financial Officer.
Chipotle Mexican Grill Inc. has hired MARK CRUMPACKER as chief marketing officer. Also, BILL NIMAN, the founder of all-natural meat processor and distributor Niman Ranch, was named Chipotle’s sustainable agriculture advisor.
EINSTEIN NOAH RESTAURANT GROUP INC. has named quick-service veteran JEFF O’NEILL chief executive and director, the company said. O’Neill replaced PAUL MURPHY, who had worked for the company for 16 years.
SAGITTARIUS BRANDS, parent of the DEL TACO and CAPTAIN D’S SEAFOOD KITCHEN chains, said Tuesday it has named JIM LYONS chief development officer. In his new role, Lyons will be responsible for Del Taco’s development, including real estate, construction and franchise recruitment and operations.
Financial Overview
STEAK N SHAKE CO. reported Tuesday a 1.4-percent drop in same-store sales for its first quarter ended Dec. 17, an improved result for the struggling chain. Quarterly comparable guest traffic fell 0.9 percent.
DARDEN RESTAURANTS INC., parent to the Red Lobster, Olive Garden and LongHorn Steakhouse chains, said Thursday that second-quarter net earnings rose 37.2 percent from a year earlier, but that the expectation for a challenging second half of the year led to a lowered annual outlook.
CARL’S JR. and HARDEE’S parent CKE RESTAURANTS INC. said Wednesday that reduced revenue from refranchising efforts and higher interest expenses pushed third-quarter profit down 13 percent, even as both brands posted positive same-store sales.
YUM! BRANDS INC., parent to Taco Bell, KFC, Pizza Hut and other quick-service brands, said last week it expects per-share earnings to increase at least 10 percent in 2009 and reiterated its prediction for a 12-percent jump for the current year.