Blue Lobster
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Red Lobster considering bankruptcy...
https://www.foxbusiness.com/markets/red-lobster-considering-bankruptcy-filing-report
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We used to go to one when we lived in Ontario. Somewhat ironically, there aren't any in Massachusetts or Rhode Island, the home of the lobster. I could probably hazard a guess why this is.
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the toll of fast casual. ugh.
I had no idea it had been sold so many times. In my experience that seldom bodes well for quality.
@Mik said in Blue Lobster:
seldom bodes well for quality
There's a couple within a 20 minute drive from me. I've never appreciated lobster, and I can't abide shrimp - bottom-dwelling sea roaches.
However, Mrs. George enjoys, so we go have some lobster a couple of times a year. I have the Cajun Chicken Alfredo because it's not lobster or shrimp.
One time, I made the mistake of ordering steak...oy vey.
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Local grocers here offer to steam the lobsters for you when you buy whole, live lobsters from them. That's mostly how I get my lobsters these days, on the rare occasions when I get lobsters.
During the pandemic, many restaurants were closed and there was excess lobsters the suppliers wanted to unload. So for a time lobsters were on deep discount at the grocers and I enjoyed many lobsters then.
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Rumour has it they used to serve prisoners lobster in Massachusetts because they were so plentiful.
It's all about perception.
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Have a friend that retired as a regional manager for Burger King. He was over a territory that included Louisiana, NE Texas, Arkansas and Oklahoma. He was quite proud of his stores...Their cleanliness, the quality of their fast food and especially proud that he beat McDonald's in sales in some districts within the region.
He was well compensated, the company allowed him to pay his managers well (for the industry) and he did his best to make sure those managers hired the best people they could in the salary range the company allowed.
And then...
The company was sold. Then sold again. Ingredients cheapened. Less employees were allowed. Salaries atrophied. He did what he could, but you can't fix corporate. He was tickled to be able to retire when he did.
Now, I don't think he'll even buy a hamburger from Burger King.
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Have a friend that retired as a regional manager for Burger King. He was over a territory that included Louisiana, NE Texas, Arkansas and Oklahoma. He was quite proud of his stores...Their cleanliness, the quality of their fast food and especially proud that he beat McDonald's in sales in some districts within the region.
He was well compensated, the company allowed him to pay his managers well (for the industry) and he did his best to make sure those managers hired the best people they could in the salary range the company allowed.
And then...
The company was sold. Then sold again. Ingredients cheapened. Less employees were allowed. Salaries atrophied. He did what he could, but you can't fix corporate. He was tickled to be able to retire when he did.
Now, I don't think he'll even buy a hamburger from Burger King.
... especially proud that he beat McDonald's in sales in some districts within the region.
But did he make a profit in those districts, did the profit margin beat McDonald's?
And then...
The company was sold. Then sold again. Ingredients cheapened. Less employees were allowed. Salaries atrophied.
As a private enterprise, "beating in sales" alone is not sustainable if you don't also at least break even. Chronic losses would lead to the company being sold, materials budget being reduced, and employees/compensation slahsed.
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That's one scenario. If a company is doing well but the VCs think they can squeeze more profits out of it by doing exactly what Jolly and I said it also becomes a target.
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That's one scenario. If a company is doing well but the VCs think they can squeeze more profits out of it by doing exactly what Jolly and I said it also becomes a target.
@Mik said in Blue Lobster:
That's one scenario. If a company is doing well but the VCs think they can squeeze more profits out of it by doing exactly what Jolly and I said it also becomes a target.
You, sir, are right.
BTW, Chart House used to hold a national meeting for all regional managers. The top 20% received a substantial bonus. The middle 60% were told their performance was adequate, but do better. The bottom 20% were fired.
My friend always got his bonus.
