Skip to main content

View Diary: Will the revenge layoffs backfire? (383 comments)

Comment Preferences

    •  I read the article but didn't see anything (4+ / 0-)

      about Applebee's threatening layoffs. It just said they had a great quarter and that income taxes were high but were offset by earnings. Did I miss something?

      And even though it all went wrong I'll stand before the Lord of Song with nothing on my tongue but Hallelujah! -Leonard Cohen .................@laurenreichelt

      by TheFatLadySings on Sun Nov 11, 2012 at 05:50:54 AM PST

      [ Parent ]

      •  SOrry. Wrong link. (3+ / 0-)
        Recommended by:
        avamontez, Utahrd, TheFatLadySings

        Mr. Tankel is a frachise owner of Applebees who says he will do this.  Apparently, he IS NOT CEO OF APPLEBEE'S. He is CEO of a company in the NY area that owns 40 applebee's franchises... HE IS A FRANCHISEE.. he can speak for the restaurants he owns but HE DOES NOT SPEAK FOR APPLEBEE'S CORPORATE

        The facts on this bozo (from Forbes) Mr. Tankel is currently Chief Executive Officer of Apple-Metro, Inc., the New York Metropolitan Area franchisee for Applebee’s Neighborhood Grill & Bar, and has been the Chairman of the Board of Apple-Metro, Inc. and Chevys Fresh Mex Restaurants since 1994. Mr. Tankel also serves as a member of the Board of Directors of Mortons Restaurant Group, Inc., Caribbean Restaurant LLC and Perkins & Marie Callender’s Inc., where he also serves on the Audit Committee.

    •  Lets also read the article (0+ / 0-)

      If we do, then we see things like this:

      IHOP the company said it expects sales to "trend toward the low end of the range" of 1.5 percent lower to 1.5 percent higher.

      One analyst said on the company's conference call that its wide forecast was cause for some discomfort. Investors use these same-restaurant sales as a gauge of performance.

      U.S. restaurants are fighting over diners, who are spending cautiously on meals away from home amid weak economic and job growth.

      In recent weeks, chains such as McDonald's Corp (MCD.N), Chipotle Mexican Grill Inc (CMG.N) and Buffalo Wild Wings Inc (BWLD.O) have posted disappointing results.

      The company, which recently finished selling most of its Applebee's restaurants to independent operators, said third-quarter net income rose to $58.7 million, or $3.14 per share, from $15.5 million, or 85 cents per share, a year earlier. The latest quarter included a gain of $73.7 million from the asset sales, which was partially offset by higher income taxes and expenses, and the expected lower segment profit resulting from the restaurant sales.

      The portion in bold which starts with "The Company" refers to Applebees. They had a one time profit event from selling company owned stores to franchisees.

      Looking at the rest of the article one can easily see what kind of environment they are working under.  The Franchise owner that made the comment, not the company, will get an earful from the company and it's many other franchise's if the brand is hurt by this dumb-asses actions. The truth is Applebees , the corporate side had a one time profit event , but the stores owned by franchisee are in the same environment as Applebees competitors.

      This douche-muffin is about to find out the meaning of Newton's law.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site