Sandy, Fire Kimberly Grant!! As the architect of this failed strategy, she is utmost responsible for the mess we're in. And her lap dog MIKE RODER is the single most unqualified, worst damaging person I can think of in the time I've been with Ruby's. Fire them both and watch the stock go up! I'll personally buy 10,000 shares. Please send a message to shareholders that new leadership is coming, and that it is safe to invest in RT. Ruby's employees, please share your thoughts and experiences with these two arrogant idiots and keep this post at the top. Lets send a message to Sandy that it's time for a new vision at Ruby's.
Mike Roder is the reason why I am no longer with Ruby Tuesday - What was once an Awsome company with a huge future turned into one that is only focussed on one thing - $$$$
Treating your team like furniture does not create a following!
"you choose how you treat people are they building stones or stepping stones. They are the same stones with different results!"-Bob Baldini
"Not everything that can be counted counts"-Rob L.
RT has had leadership issues for a long time. The leader of the company is an accountant and the company direction comes from the home office. This is NOT an OPS driven company. They are out of touch and out of time!!! They value the profit line more than any other aspect of the business. This company has lost more talented people in the past 10 years than you could imagine. Most of these people are now high level performers in many of the top restaurant companies in America. The only people left are these tools that manage through fear and prey on weak individuals that are too scared to go work somewhere else. This ship is sinking. Someone once said "the best swimmers leave the sinking ship first!"
Let me provide some perspective on the chances of this company surviving. Go back to RTs financial results for the 3rd quarter of last year. To stay out of trouble, I will not be specific, but in general terms, calculate the current sales trend (down 10.8 in the first quarter 2008)and then apply the same cost structure as the previous year and you could see significant losses. This is not a model that can repay this huge amount of debt. I don't see it happening. This is simple math and it does not add up. If this business did not have a huge component called occupancy that is a fixed cost to the business because of over 700 separate sites, they could decrease their cost structure additionally and continue to repay debt. In this situation, they must close many stores and they need to do this in Jan, Feb of 2009. They are in a very tough spot. At the end of the day, an investor in RT is risking their money on the belief that this company can bring back customers and build the business again. That is the only way out of this. In 2004, average unit volumes were 2.177 million per store. In 2006, it was 2.068. In 2008, their average unit volumes were 1.907. In 2009 ??? Unit level economics are what this is all about. Do the same exercise with other brands, and they have the volumes that keep the unit level numbers in a good place. Put your money in those business!there are some good deals out there!
Do you not read? That's exactly what they are doing.
Use your simple math, 1.907 x 700 stores is 1334.9. Subtract 70 store closing losing money. Now divide 1334.9 by 630 and you get 2.119 mil per store. Back to the 2004 level.
What are you griping about? I don't get it. You want profitable stores closed?
I really like the new way RT is trying to save money. They are eliminating the buying of white bread, which is used for only one menu item, kids grilled cheese. This will probably save each store about $10 a month. That is really going to help keep the company going through the recession. There are so many things which are wasted all the time at RT that cost much more then $2 a piece, like a loaf of bread. Management needs to get a clue.
AGREED... Been with RT almost 12 years and this is by far the worst work environment I have ever seen. KG has been cracking her whip all the way to Chapter 11 and got a 50K raise this year...??? Mike Roder is the most demoralizing, Arrogant guy out there. He adds absolutely ZERO value. Get back to what we are great at.. a 10 dollar check average per guest and FUN!!! Everyone I know that works for RT HATES their job and that is gonna get us No Where. Quit the gimmicks, Free Burgers, fry refills etc and lower Prices and put the damn fruit back on the Salad Bar YES I SAID SALAD BAR NOT GARDEN BAR..... We built 700 restaurants on a 10 dollar check and focus on Top line sales and obtainable profit goals. How many are we building now??? Focus on TRAINING and get back to the basics of a running a FUN, Profitable Company not a Sweat Shop with Impossible goals set by Impossible People. NO Compassion, just Numbers.. It is all BS! The Guest could care less about anything except Great Food and Service. The decor, the uniforms or the position of the wine bottles are meaningless! Sandy, If you can hear me Get Kimberly and these VPOPS out they are KILLING YOUR COMPANY!!
I was part of great a store and Roder wanted to fire me for for something that happens all the time. A terrible leader and does nothing for our company. My director is great and profesional and even admits to not liking him. Hes destroying our great company
I think there are greater issues than just Kimberly to address. I think the company has reached a point where it is time for a change. They had always been a leader in that area until recently. I think the fact that Sandy has allowed such decisions to occur, and that no one has reeled him in with his outlandish ideas has led to the companies downfall. It might be time to give him the golden parachute as well and restructure the upper management all together. (Let him have some nice stock options as a forced retirement package, where they will expire before the value is actually worth anything. That is what they did with many of the awards they gave us partners.) When some of the core people who have supported and worked for the company for years at the corporate office are looking for other work, it is a sign that things are not healthy. The changes upper management is now making are in desperation to grab the last life preserver on a sinking ship. They are throwing out ideas to try to save themselves, and none of them are working because they have not invested their usual resources or thought into guaranteeing their success. They recently gave out coupons for free apps with no requirements... No company would do that. It is amazing how many free apps and glasses of water are buying people lunch... They are not buying anything else, because they dont need to. It is not driving sales, or enticing them to buy that item in the future. It was amazing last week you had the choice of buying a burger at Ruby Tuesday, or you could get six shares of their stock for the same price. I would rather go to McDonalds and get Six burgers for that price... because at least it will be a better value, and I wont have to worry about pissing money down the drain in a company on the verge of bankruptcy. The company has halted growth, and cannot retain their quality staff, and they are now demoting people to save a dime on expenses... I think it is too little too late, and it is time to look towards the future and who that should not include. Hopefully a buyout will be a Christmas gift before Chapt 11 ruins those who foolishly invested their life savings into one company.