Basic summary is that the new CEO and his cronies have run the company right into the ground. Author says when the new CEO was hired, same store sales were still positive. New CEO, as they all do, decided to "change" the company with his great new ideas, a brilliant strategy, and a new management team built from all his buddies at past jobs.. And almost from that very day, sales have imploded. Author says that while management blames all its problems on the economy and previous management blunders, many of its competitors have flourished. How long until the board wises up and cleans house? Are they going to wait until all the cash is wiped away and customers have abandoned RT for its competitors? Because both of those scenarios are well underway.
Restaurant business cannibalize each other like crazy. You could look at it too ways the CEO made the wrong plan, or other restaurants just made even better plans.
I always think food service stocks drive up too fast and down too fast, people should realize ahead of time how almost every restaurant chain ends up getting attacked. It's one of the most popular business' for new entrants which means someone is going to loose to that new entry.