The Big News
Bennigan's files for bankruptcy protection. Restaurant chains Bennigan's and Steak & Ale have filed for Chapter 7 bankruptcy protection and stores owned by its parent company will shut their doors. The companies owned by privately held Metromedia Restaurant Group of Plano, Texas, filed for bankruptcy protection on Tuesday in the Eastern District of Texas, less than two months after Metromedia said it was not preparing to do so.
Viewpoint
Alas, There Is Some Good News!
In the wake of the Bennigan’s /Steak & Ale Chapter 7 filing and continued troubling news from Starbuck’s, some particularly encouraging results have appeared as the industry reports second quarter results. Please note our monthly financial update displaying 22 green arrows up compared to 7 red arrows down. Now that is a much prettier picture than we have seen in some time.
Women's Corner
by Sheli Z. Rosenberg
Uncommon Women
Moving past tokenism and box checking opens doors to more diversity.
For those of us who monitor the number of women in the executive suite and boardroom, the announcement that Meg Whitman was stepping down as CEO of eBay after a long run was a disappointment.
FYI Candidates
Job Seeking: Your Newest, Full-time Job
Many individuals believe that the process of finding a job is something that is completed by dedicating just an hour or two (if that) a day to searching job descriptions and posting resumes.
Executive Movements
DOUG DORAN confirmed that he has left GROUP FOUR RESTAURANTS, the development company he joined last December after working for Dardens restaurant for 11 years to join EMERILS. Doran said he left Group Four in March because of the deteriorating economic environment, especially in Florida, where the company is based.
Financial Overview
STARBUCKS CORP., blaming slower customer traffic and costs for its "transformation agenda" and impending closure of 616 coffeehouses, has reported its first quarterly loss as a public company.
Even while warning of possible branch closures, FAMOUS DAVE'S OF AMERICA INC. posted a 6.2-percent increase in second-quarter profit to $2.3 million, or 23 cents per share, and a 15.6-percent surge in corporate revenues to $38.8 million.
Marking 17 consecutive quarters of growth, Bruegger's Enterprises, Inc. announced second quarter system-wide gross sales of $46.14 million, a 11.3 percent rise over $41.46 million for the same period in 2007.
Bucking prevailing foodservice trends, BUFFALO WILD WINGS INC. on Tuesday reported a 46-percent jump in second-quarter profit and said same-store sales rose 8.3 percent at corporate restaurants and 4.5 percent at franchised branches for the three months ended June 29..