BOBE head resigned. He had family connections to firm, but unlike FRS, not stock control. I am not a former employee and didn't lose too much money on stock. The stuborness/stupidity of management just annoys me, although I have to admit macro conditions haven't helped.
He hasn't been there long enough to make a difference. I would say it's more timing however GC continues to struggle with cost's.
I guess the good news is the stock is up, but the real proof will be in GC's on going performance. It takes alot of sales to make a GC pay. I wish them luck but would still stay away from the stock, not enough up-side.
Maybe you should do some research before you make that statement. This guys track record both with Applebees and after has many question marks. As an investor one of the signs I look for; what kind of performance after a person leaves does the concept have.
FRS is a bad place to be right now. The management team is solid in execution, but high gas prices are killing their clientele and buffet business was not a good idea, especially given the franchise royalties associated with it.
Sadly, I think there might be some sucker money coming into the stock because they are looking at the insurance profits that inflate eps and deflate P/E.
Swamp, I don't know about execution. They did well with Big Boy, and I agree with your comments about their clientelle. Still, national Golden Corral SS stats, when I used to look at them, were much better than FRS.