Viewpoint
The Millennials are Coming, the Millennials are Coming! by Bob Gershberg, CEO & Managing Partner
Wray Executive Search
The millennials, the twentysomethings, a.k.a. the generation "Y"ers spent $73 billion dollars at foodservice establishments in 2010. They made over 13 billion of the 59 billion restaurant visits for dining or takeout according to the NPD Group. "Millennials will overtake Baby Boomers as the most sought after target for restaurateurs in the coming years," says Bonnie Rigs, NPD restaurant industry analyst. We have finally gotten our arms around the fact that they communicate differently, now we have to figure out what they want to eat, when and how often. It seems like only yesterday when we made their last tuition payment. Full Article » |
Breaking News
Google Acquires Zagat
Google has acquired Zagat, one of the most well-known names in restaurant reviews. Zagat is best known for its small guidebooks (the dead-tree sort) that offer reviews and recommendations on restaurants around the world.
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Management
IT'S NOT ABOUT THE MONEY !
by WC Wells
Several years ago I read the story of Jeremy, one of the "fishmongers" at Pike Place Fish Market in Seattle. He was diagnosed with brain cancer and, as it would be with most of us, this was not part of his life plan. He was passionate about his work and his life.
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Financial Edge
The How will the 2nd half of 2011 play out? by David Ulrich, EVP Wray Executive Search
On the eve of President Obama's most critical speech of his political career, will consumers and the country be motivated enough to place their confidence and trust that this Administration will "deliver the goods" in the form of job creation? Consumer spending had been trending upwards the earlier part of this year, however the summer months proved otherwise. Full Article »
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Top chef changes kitchens with a little help from the Wray Search team. Danny Meyer's Union Square Events catering division was poached by competitor Great Performances. This high level culinary search was conducted by Joe Radice, Vice President at Wray Executive Search New York City office. Full Article »
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The Wendy's Company announced that Emil J. Brolick will join Wendy's as President and Chief Executive Officer, effective September 12, 2011. Full Article »
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Così Inc. chief executive James Hyatt has resigned, citing personal reasons, the company said. Full Article »
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DineEquity, Inc., the parent company of Applebee's Neighborhood Grill & Bar and IHOP, announced the appointment of Tom Emrey as chief financial officer, effective September 12, 2011. Mr. Emrey replaces John F. Tierney, who will be leaving the Company following a brief transitional period. Full Article » |
Michael Keller has resigned as chief brand officer of International Dairy Queen Inc. to become president and chief executive of St. Paul, Minn.-based Pearson's Candy Company, the company said Full Article »
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The Cheesecake Factory Incorporated announced that Donald Evans joined the Company as Chief Marketing Officer. Full Article »
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California Pizza Kitchen Inc. has named former Texas Roadhouse chief executive G.J. Hart its new president, chief executive and executive chairman, succeeding Rick Rosenfield and Larry Flax, the CPK co-founders. Full Article »
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Darden Restaurants, Inc. (reported that it expects diluted net earnings per share from continuing operations for its fiscal first quarter ended August 28, 2011 to be approximately 78 cents. Full Article »
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Burger King 2Q net falls 12.7%. Burger King Holdings Inc. posted second-quarter results including declines in sales and profit, leading executives to discuss major menu changes aimed at broadening BK's consumer appeal. Full Article »
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AFC Reports Global System-wide Sales Increased 4.8 Percent Compared to a 2.8 Percent Increase Last Year. Full Article »
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Burger King Holdings Inc. would not comment on reports Wednesday that the parent of the nation's No. 2 hamburger chain is in talks about a possible sale. Full Article »
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Così, Inc., the fast casual restaurant company, reported a net loss for the second quarter ended June 27, 2011 of $(634,000), or $(0.01) per basic and diluted common share. Full Article »
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Red Robin Gourmet Burgers Inc. reported a 59-percent increase in second-quarter profit despite lags in traffic at company-owned locations.Full Article »
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Absurd
U.S. corporate profits and efficiency are getting absurd.
On Friday we saw record quarterly profits of $1,450 billion, making up a record share of GDP at 10.1%. We're also at record corporate efficiency of $15,278.72 -- up 22.3% from last year -- according to Sageworks Inc.
That last one says it all. Rampant job cuts and salary cuts, with new responsibilities for old workers, during the recession turned corporations into profit-making machines. Stimulative policies from the government and the Federal Reserve helped plenty. New technology also helps with efficiency.
Unfortunately there are no signs that corporations are turning revenue into jobs.
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Books: Onward
by Rebecca Patt, VP of Development,
Wray Executive Search
Soulful Schultz Moves Onward In Onward: How Starbucks Fought for Its Life without Losing Its Soul, Howard Schultz tells the remarkable story of how even mermaids can crash into rocks and his own near-mythic efforts to set the course right again. The book is a must-read for anyone in the restaurant or retail business and one of the best business books of the era. Full Article » |
Fitness
by Ilene Gershberg, ACSM www.IleneonHealth.com
 Just in case you need a few reminders... Sometimes we just need those occasional reminders to keep us on track. As a hard working professional, life balance can become extremely challenging. Next time you're weighing the pros and cons of investing more time and effort into your health, consider these 25 reasons why when it comes to exercise, "the juice is worth the squeeze." Full Article »
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This Month's Hot Opportunities
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Chief Development Officer - National
The Chief Development Officer will be tasked with quickly assessing the development systems and team, and implementing appropriate processes to optimize the function and increase the restaurant growth rate without sacrificing quality. Additionally, the CDO will participate in establishing realistic and achievable development goals for 2012 and beyond for both International and Domestic growth. Click for PDF »
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Chief Marketing Officer - Texas
Publicly traded international family dining chain operates and franchises 500+ units needs superstar Chief Marketing Officer to drive the development of the corporation's plans and programs as a strategic partner. In conjunction with senior management, evaluates projects through financial feasibility studies, market research and planning. Click for PDF »
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Chief Financial Officer - Midwest
Our client is a franchiser of more than 150 restaurants in nine states and has a track record of continuous samestore sales growth and steady expansion for the last ten years. It is one of the most successful regional chains... with no intention of slowing down. Click for PDF »
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Regional Director of Operations - New York, Manhattan
Newly created position to oversee mid-town Manhattan restaurant concept offering original artisanal products of Italian tradition characterized by very high quality. The company is based in Italy with locations in Rome, Milan, Florence, London, Tokyo, Istanbul and Los Angeles. Click for PDF »
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VP Real Estate Development - National
The VP Real Estate Development has direct responsibility for all real estate market planning, analysis, site approval and in some cases acquisitions, depositions or lease (re) negotiations. This person is responsible for attaining the new site goals for all new corporate and franchisee units within the system. Click for PDF »
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Director of Business Development - West Coast
Wray Executive Search is pleased to announce a new search for a Director of Business Development. Our client is a growing, highly-acclaimed restaurant and food service company focused on building its business of operating fine restaurants and contract food service in nontraditional venues. Click for PDF » |
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