This is the first clue for investors that consultants, outsiders and out of touch management are running BOBE. The language is too funny. Why don't you just say we are evaluating our fixed investments and capital structure. Which should be done on a regular basis anyway. Why does this warrant a press release? Without a press release, the consultant can't justify the fee?
Right now the stock is too expensive, stop buying back shares. Spin-off the foods business from the restaurant business. Quit worrying about press releases and including the word monetize.
Activist investor Thomas Sandell, is finding out that BOBE Food Products is the "Golden Goose"!!! Old Thomas, is finding out what all of us "former Bobsters" have known for decades, Food Products has produced the best ROIC since the company was founded!!! They are probably working on a plan to take the division private, and do a IPO in a year or two, or they may be trying to figure out how much of a premium they should demand from a suitor wanting to acquire the Food Product division. M / A activity is heating back up, and the food companies are some of the most attractive candidates. As for the restaurant division, well that's another story. Much work to be done, especially not to repeat the disaster of the Davis regime. Money spent on remodels producing minimal ROIC. Food quality issues, and people quality issues. Davis B.E.S.T. practices if implemented from the top down, should have had the CEO on all Red, by the fourth year of the regime.
It's been 5+ months and we're still without a CEO. Of course, it didn't help that the search may have started over the holidays but it still seems like they're having a tough time finding someone comfortable enough with either the controlling group or the company's prospects.