2009-07-02] The Superior Court of New Jersey granted partial summary judgment in favor of franchisees of Taco Bell Restaurants against Underwriters of Lloyds, which sold Trade Name Restoration, Loss of Business Income, and Incident Response Insurance for Food Borne Illness (TNR) policies to the franchisees. Invoking the policyholders' reasonable expectations and noting that "any exclusion must be clear," Hon. Judge Phillip Lewis Paley, JSC, found that an "aggregate supplier incident sublimit" cannot be used as a stealth exclusion to deny coverage for business income losses stemming from food contamination that was allegedly caused by lettuce that went into some Taco Bell menu items.
Read more:
http://www.qsrmagazine.com/articles/news/story.phtml?id=8884&utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication
Thursday, July 2, 2009
Is Oliver biting off more than he can chew?
Someone, an otherwise anonymous television producer or director making a film about the River Café restaurant, saw something, a hint of star quality. Bustling in the kitchen was a young sous chef, snapping back at the camera crew, obsessed and fascinated, and if he played a relatively minor role in the real world of Rose Gray’s and Ruth Rogers’ famed Italian eaterie, he was a star of the show when it hit the screen.
Few, then, in the mid-Nineties, could have predicted what the next decade and more would hold for Jamie Oliver. The dyslexic Essex boy born into the catering game at his parents’ pub in Clavering has become a multimillionaire, a one-man multimedia industry, an A-list celebrity, bestselling author, national campaigner and an MBE at 34. He has also become a brand.
Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6597092.ece
Few, then, in the mid-Nineties, could have predicted what the next decade and more would hold for Jamie Oliver. The dyslexic Essex boy born into the catering game at his parents’ pub in Clavering has become a multimillionaire, a one-man multimedia industry, an A-list celebrity, bestselling author, national campaigner and an MBE at 34. He has also become a brand.
Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6597092.ece
Gordon Ramsay suffers profit nightmare
The TV chef Gordon Ramsay, who admitted recently that ambition almost brought his restaurant empire crashing down, suffered a kitchen nightmare last year as profits at his group fell by almost 90 per cent.
Gordon Ramsay Holdings has filed accounts showing that Mr Ramsay and Chris Hutcheson, his father-in-law and business partner, were forced to inject £5 million into the business to keep it afloat by paying off some of its debt and unpaid tax.
Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6623219.ece
Gordon Ramsay Holdings has filed accounts showing that Mr Ramsay and Chris Hutcheson, his father-in-law and business partner, were forced to inject £5 million into the business to keep it afloat by paying off some of its debt and unpaid tax.
Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6623219.ece
Hilton makes 100 redundancies at its Watford office
American hotelier Hilton Hotels Corporation has announced that it has made around 100 full-time staff redundant at its international headquarters in Watford. An undisclosed number of contract staff will also lose their jobs.
The job cuts were forecast back in February when it was widely reported that the hotel operator (which was bought out by Blackstone for $26b in October 2007) was planning more than 1,000 job losses worldwide, and announced the closure of its corporate headquarters in Los Angeles, California.
Read more:
http://www.bighospitality.co.uk/item/3614
The job cuts were forecast back in February when it was widely reported that the hotel operator (which was bought out by Blackstone for $26b in October 2007) was planning more than 1,000 job losses worldwide, and announced the closure of its corporate headquarters in Los Angeles, California.
Read more:
http://www.bighospitality.co.uk/item/3614
Travel's latest scourge: hidden charges
You check out of a downtown hotel, and your bill contains a "resort fee" of $20 a day for a fitness room you never entered, a pool towel that remained untouched and a coffeemaker you never used. Hidden fees are erupting throughout the lodgings industry, and it's important to stand up and challenge the deceptive practice.I've recently received messages from readers who recount the following outrages:- At the Franklin Hotel in New York, a reader finds a fee of $12 a day on his final bill. He's told, upon inquiring, that it's for Wi-Fi (wireless access to the Internet, which he never used). "Everyone charges that," says the hotel clerk.
Read more:
http://www.chicagotribune.com/travel/chi-frommer_hidden_fees_pmjan27,0,3426698.story
Read more:
http://www.chicagotribune.com/travel/chi-frommer_hidden_fees_pmjan27,0,3426698.story
Nashville restaurateur to fight state gun law
A well-known Nashville restaurant and bar owner plans to sue today to stop the state's new guns-in-bars law from taking effect later this month. The case will center on claims that the law would create a public nuisance that threatens the safety of the public, and violates the constitutional rights of restaurant/bar owners, patrons and employees. Randy Rayburn, owner of the Sunset Grill, Midtown Cafe and Cabana, said advocates pushing the law falsely claimed that nearly 40 other states had similar laws. He said the law creates increased liability for him and other owners and is a matter of public safety.
Read more:
http://www.topix.com/business/restaurant-management/2009/07/nashville-restaurateur-to-fight-state-gun-law
Read more:
http://www.topix.com/business/restaurant-management/2009/07/nashville-restaurateur-to-fight-state-gun-law
Rate integrity in a down market
Participants of a recent Cornell-Nanyang Institute of Hospitality Management Thought Leaders in Revenue Management Roundtable discussed ways to avoid price dropping and issues of managing rate integrity in current market conditions in Asia.
Over the twenty years that Revenue Management has been in practice in the hospitality industry, most of the principles have been learned in a sound economy, commented Dr. Sheryl E. Kimes, Singapore Tourism Board Distinguished Professor of Asian Hospitality Management, who recently led the Revenue Management Roundtable in Singapore, hosted by the Cornell-Nanyang Institute of Hospitality Management (CNI), along with iDeas, a SAS Company.
Read more:
http://www.hotelmarketing.com/index.php/article/rate_integrity_in_a_down_market/
Over the twenty years that Revenue Management has been in practice in the hospitality industry, most of the principles have been learned in a sound economy, commented Dr. Sheryl E. Kimes, Singapore Tourism Board Distinguished Professor of Asian Hospitality Management, who recently led the Revenue Management Roundtable in Singapore, hosted by the Cornell-Nanyang Institute of Hospitality Management (CNI), along with iDeas, a SAS Company.
Read more:
http://www.hotelmarketing.com/index.php/article/rate_integrity_in_a_down_market/
Release of Initial Operating Statistics for City of Dreams
NEW YORK, July 2, 2009 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (Nasdaq:MPEL - News), a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, today announced initial operating statistics for City of Dreams, its new urban integrated entertainment resort that opened on June 1.
Read more:
http://finance.yahoo.com/news/Release-of-Initial-Operating-pz-3012266574.html?x=0&.v=1
Read more:
http://finance.yahoo.com/news/Release-of-Initial-Operating-pz-3012266574.html?x=0&.v=1
Top 100 restaurant brands push back at downturn
June 29, 2009) Many of the major U.S. foodservice operators working to build sales and profits as a safeguard against unforeseen expenses in their most recent completed fiscal years found time to be no ally, as recessionary pressures mounted with each passing month.
The 36th Annual Nation’s Restaurant News Top 100 census of the largest foodservice chains ranked by U.S. systemwide sales shows that the country’s mightiest multiunit operators in their last finished fiscal years pushed up their aggregate total take by 3.85 percent, to $208.11 billion. However, that rate of growth was down substantially from the 5.47-percent year-over-year gain that group managed in the preceding period
Read more:
http://www.nrn.com/article.aspx?id=369136
The 36th Annual Nation’s Restaurant News Top 100 census of the largest foodservice chains ranked by U.S. systemwide sales shows that the country’s mightiest multiunit operators in their last finished fiscal years pushed up their aggregate total take by 3.85 percent, to $208.11 billion. However, that rate of growth was down substantially from the 5.47-percent year-over-year gain that group managed in the preceding period
Read more:
http://www.nrn.com/article.aspx?id=369136
New restaurant concept to put Johnny Rockets on the road; first mobile kitchen for global fast-casual restaurant chain unveiled.
PRESS RELEASE: LAKE FOREST, CA--(Marketwire - June 30, 2009) - After more than nine months of planning and preparation, Johnny Rockets Group, Inc. today introduced the first of what they believe will be many custom-built mobile restaurant units. The inaugural edition, with a 22-foot kitchen and 14-foot trailer, was purchased by -- and customized for -- The Washington Redskins football organization. It will make its debut at the team's Training Camp, opening July 30, at Redskins Park. Eight team practices are open to the public, including Fan Appreciation Day, on August 8, 2009. Last year's Fan Appreciation Day drew more than 28,000 spectators
Read more:
http://www.chainleader.com/article/ca6668484.html
Read more:
http://www.chainleader.com/article/ca6668484.html
Steak n Shake CEO triples his salary
Sardar Biglari, the activist investor who last year took control of the struggling restaurant chain Steak n Shake Co., now is making more than his predecessors.
The board of the Indianapolis company has voted to more than triple the CEO's annual salary to $900,000, up from $280,000.
Steak n Shake said the vote occurred June 19 and that Biglari does not have an employment agreement. He also will not participate in any bonus programs or receive any stock or stock option grants.
Read more:
http://www.thestarpress.com/article/20090630/NEWS06/90630004/1002/rss
The board of the Indianapolis company has voted to more than triple the CEO's annual salary to $900,000, up from $280,000.
Steak n Shake said the vote occurred June 19 and that Biglari does not have an employment agreement. He also will not participate in any bonus programs or receive any stock or stock option grants.
Read more:
http://www.thestarpress.com/article/20090630/NEWS06/90630004/1002/rss
The impact of the global financial crisis on hotel management agreements
In the last 18 months, the hotel industry has moved from an
environment where there was a frenetic desire by both owners and
operators to sign up new management agreements to one where new
signings are comparatively rare. We are being told that attention is
switching to how to make the agreement provisions work to maximize
operating performance and hotel saleability. Although in more instances
than we would like to see, this is really code for “survival”.
Read more:
http://www.hotelnewsresource.com/pdf8/global_hrt_news_jun09.pdf
environment where there was a frenetic desire by both owners and
operators to sign up new management agreements to one where new
signings are comparatively rare. We are being told that attention is
switching to how to make the agreement provisions work to maximize
operating performance and hotel saleability. Although in more instances
than we would like to see, this is really code for “survival”.
Read more:
http://www.hotelnewsresource.com/pdf8/global_hrt_news_jun09.pdf
NBA Drops McDonald's as Sponsor, Picks Up Taco Bell
The National Basketball Association has signed a four-year deal with Taco Bell, which will replace McDonald’s as the organization’s official fast food sponsor, according to sources.The NBA is set to announce the deal as early as tomorrow. The multi-year partnership includes advertising rights across the NBA’s All Star Saturday Night Skills Challenge, held in February, as well as the Jam Session at its All-Star Game Fan Fest.
Read more:
http://www.brandweek.com/bw/content_display/news-and-features/retail-restaurants/e3iff1672d639e4a43031d91da6c87cec5f
Read more:
http://www.brandweek.com/bw/content_display/news-and-features/retail-restaurants/e3iff1672d639e4a43031d91da6c87cec5f
Real Mex Restaurants, Inc. Prices Private Placement of $130 Million of 14% Senior Secured Notes Due 2013
CYPRESS, Calif.--(BUSINESS WIRE)--Real Mex Restaurants, Inc. (“RMR”) announced today the pricing of $130 million of senior secured notes. The 14% notes mature on January 1, 2013, and were priced at 90% of the principal amount to yield 17.983%. The offering is expected to settle and close on July 7, 2009, subject to customary closing conditions.
RMR intends to use the net proceeds from the offering to repay its existing senior secured notes, pay related fees and expenses of the transaction and to use the balance, if any, for general corporate purposes
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090701006236&newsLang=en
RMR intends to use the net proceeds from the offering to repay its existing senior secured notes, pay related fees and expenses of the transaction and to use the balance, if any, for general corporate purposes
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090701006236&newsLang=en
Disney Resort Unveils Custom iPhone App
The Walt Disney World Swan and Dolphin Resort, in partnership with Florida State University’s Dedman School of Hospitality, has developed an application for Apple’s iPhone and iTouch that allows users to access in-depth resort information from the handheld devices.Whether a guest is planning a trip to the 2,265-room property located in the heart of Walt Disney World Resort or currently staying there, users of the application can access items such as specific information on the resort’s guest rooms; investigate the various hotel dining options, navigate the property using a detailed map and experience the resort through a video tour.
Read more:
http://www.hotelsmag.com/article/CA6668506.html?industryid=47564
Read more:
http://www.hotelsmag.com/article/CA6668506.html?industryid=47564
Jamba, Inc. Announces Multi-Unit Restaurant Sale as Part of Broader Refranchising Strategy
EMERYVILLE, Calif.--(BUSINESS WIRE)--Jamba, Inc. (Nasdaq: JMBA) announced today the sale of nine restaurants as part of its ongoing strategic refranchising program that was announced May 28, 2009. The overall refranchising initiative is expected to involve about 150 Company-owned restaurant locations primarily outside of California.
The Company completed the sale of nine restaurants in Oregon to The Cinnamon Bums, Inc. (“TCBI”), an existing Jamba Juice franchisee currently operating nine other Jamba Juice restaurants in the Northwest region. With the purchase of these additional restaurant outlets in Oregon, TCBI principals, John Whittaker and Steve Foltz, now own 18 Jamba Juice restaurant locations and have committed to building three new Jamba Juice restaurants in the Oregon market.
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090701006130&newsLang=en
The Company completed the sale of nine restaurants in Oregon to The Cinnamon Bums, Inc. (“TCBI”), an existing Jamba Juice franchisee currently operating nine other Jamba Juice restaurants in the Northwest region. With the purchase of these additional restaurant outlets in Oregon, TCBI principals, John Whittaker and Steve Foltz, now own 18 Jamba Juice restaurant locations and have committed to building three new Jamba Juice restaurants in the Oregon market.
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090701006130&newsLang=en
