I'm neither long or short and have never owned BOBE, but ate at Mimi's over the weekend with four friends. We were all absolutely shocked at how small the servings were. Even the 90# missus ate her entire dinner (which is rare) and was still hungry. I understand the need to cut costs, but cutting servings by more than 1/2, is shortsighted.
aaaa you Rock! Hey bob snob, grind that up and shove it in your pork casing!! Great earning this quarter! Problem is that this was the last quarter that management gets paid on the profit line. (read REAL management, the ones who produce the profits, not the QSR morons) Do you think the next quarter will be better? Sell now because this is a "Burning Platform", right Steve? This time it will be for real.
the reason that I bought this stock in the first place was because I ate at a BOBE in Akron,Ohio one time and it was so good and reasonably priced that I tried it again and again and again. Later on I took my wife to one in a Cleveland Ohio suburb and when she gave it two thumbs up we go to them when we are on the road. Without exception they have been friendly, tasty and more than ample portion sizes. I bought the stock based on my experience. I have not tried a MiMi's yet. I like the degreee of vertical integration in this operation and the level of quality and service and will be going to them this summer.
My question to you is this: If Mimi's was doing so well, how did they put themselves in a position to be bought? The answer is bad upper management and poor business decisions, resulting in a need for an infusion of cash or total sale of the company to a stronger company.
Mimis was doing very well, it wasn't a hostile take over by anymeans that's why Stewart Owens courted Tom Simms and the Board (approved the purchase). It was to strengthen a weakened company's business portfolio. Bad upper management? poor choice of words; Tom Simms- visionary, Russ Bendel- an operators operator, Ed Bartholemy terrfic blend of finance and operational savy, Dan Dillon and Steve Stanley- some of the most thought of upper level management in the business. They thought it safer to sell to a passionate entity that would help grow the business rather than take the company public.
To clarify "Everyone" is a general term there are many of us waiting to leave and some who have left because of the untrust we have of upper level management when there are positions suitable to our liking through this rocky economy we will be able to leave. But trust in this --- no one trusts the direction of the company. The tenure at the top is now over a little over a year in place and they only have fear to help guide them. Good Luck
Fair enough. I was being a jerk and got caught with a typo. I also juxtaposed static for dynamic mentally. Like mom said if you don't have anything nice to say....
I should follow my own advice and just be nice. As far as destroying something that has been built since 1979 you give yourself away as a Mimi's guy. Bob's has been around a lot longer than that. My question to you is this: If Mimi's was doing so well, how did they put themselves in a position to be bought? The answer is bad upper management and poor business decisions, resulting in a need for an infusion of cash or total sale of the company to a stronger company. Also, if you're so upset about it, why not move on? P.S. ALL Bob employees are not looking for other jobs I assure you. Good luck anyway.
to pick nits,
Embrace change and realize that was once good, may now be ineffective.
maybe try - "Embrace change and realize what was once good, may now be ineffective."
Enjoy destroying what some people have built since 1979.
>>>>> Life is static. Constantly moving. Embrace change and realize that was once good, may now be ineffective.
as long as we're picking nits, why would you say life is "static" but then follow it with words that describe "dynamic"?
This is not an food complaint forum moron. Bitch to the manager at the restaurant if you have a problem or hit the complaint button on the Mimi's website.
As for the stock and the value/return equation, this is a burning platform. They are crushing the Mimi's brand and there is no hope for the fast food geniuses who have NO CLUE how to run a complex, full service restaurant.
The company is WAY broken and the ship is sinking fast. Get out while you can. That is the real message.
Hey guru, if the ship is sinking so fast why is the stock trending upward lately??? Riddle me that one genius. You sound like another bitter ex-employee with no idea what's really going on. Quit trying to trash something you obviously don't want to be a part of anyway...