Burger News Recap January 2015
Published on February 5th, 2015 | by John0
Looking for Love in all the Wrong Places, IPO Hunger Games, and 5 Free Burger Meals
While I usually shy away from discussing the big 3 fast food chains, this month’s top story goes out to McDonald’s CEO Don Thompson stepping down to be replaced by Steve Easterbrook. No McLovin for Thompson amid slumping sales and poor earnings. The burger chain continues to struggle against other competitors who offer fresh ingredients and customization.
While the Golden Arches shook, Shake Shack ate McDonald’s lunch this week. The burger-restaurant-chain that started out as a hot dog cart back in 2000 as part of a renovation project in Madison Square Park, went public this week with an opening price of $21.00 per share ending the day at $45.90 – providing Danny Meyer a handsome wealth increase of $342 million. After watching the success of Chipotle going public, investors are definitely hungry for this stock.
One couple’s good deed of the day is another’s opportunity to show their asininity. A New Hampshire couple discovered $2,631 in their take-out bag from Burger King. Somehow the money in the bag was meant for a bank deposit. The local owner of the franchise threatened to fire the employee who made the mistake but the couple intervened. The franchisee then went on to ‘generously’ reward the couple for their good deed with 5 free Burger King meals. Speechless – another reason to loathe this company.