Blackstone strikes deal with Jersey Mike’s Subs: WSJ
Private equity firm Blackstone could soon own the popular sandwich chain Jersey Mike’s Subs. According to The Wall Street Journal, the deal would value Jersey Mike’s at $8 billion, including debt.
In an update Tuesday, Nov. 19, Blackstone responded to the Journal’s report and confirmed it has struck a deal to take a majority stake in the Manasquan, N.J.-based sandwich chain.
Blackstone has a history of investing in franchise businesses. It just made a deal in April to buy Tropical Smoothie Café. The Journal also mentions Blackstone’s deal for franchiser Hilton Hotels was the “most profitable private-equity investment in real estate ever.”
Jersey Mike’s, which now has over 3,000 locations, has its roots as a sandwich shop that opened on the Jersey Shore in 1956. In 1975, 17-year-old employee Peter Cancro bought the shop, changed its name to Jersey Mike’s, and began franchising it years later. He remains the company’s CEO.
Consulting company Technomic said Jersey Mike’s is the second largest sub-style sandwich company in the U.S. by sales after Subway.
The school-specific meals made their debut last school year. Kraft Heinz said they were protein-enriched and had reduced levels of saturated fat and sodium to meet the requirements of the national free and reduced-price school lunch program.
However, the meals got pushback from nutrition experts, who were concerned the school versions of Lunchables would confuse parents into thinking store-bought versions were healthier than they are. Then in April, Consumer Reports said it found the school-approved Lunachables actually contained more sodium than their store-bought counterparts.
In a statement, Kraft Heinz said its decision to pull school Lunchables was due to lack of demand.
Wendy’s to close 140 underperforming, outdated locations
Wendy’s announced it would close 140 underperforming and outdated locations by the end of 2024, adding to the 100 closures it had already scheduled earlier this year. Wendy’s CEO, Kirk Tanner, said the locations struggled to meet current customer expectations and had become outdated.
The company planned to focus on locations that better aligned with customer preferences.
Despite the closures, Wendy’s expected no reduction in its overall U.S. presence. The fast-food chain, which operates approximately 6,000 locations nationwide, intended to replace every closed restaurant with a newly designed, modern facility.
These new locations would feature updated pick-up windows, advanced kitchen technology, and revamped interiors, aiming to offer customers an improved dining experience.
Wendy’s is not alone in this approach. Other restaurant chains, including Denny’s and Shake Shack, also announced closures of hundreds of underperforming locations. While Wendy’s recent earnings report showed mixed results as same-store sales growth fell short of analysts’ expectations, the company remained optimistic about its future.
One recent promotion helped bolster sales. Wendy’s introduced a SpongeBob SquarePants-themed meal in October, which reportedly attracted significant customer interest.
New policy could mean fewer broken McDonald’s ice cream machines
For years, McDonald’s fans across the U.S. faced a familiar disappointment after visiting their local restaurant hoping for a McFlurry or ice cream cone, only to learn the ice cream machine was down. This frustration stemmed from McDonald’s dependence on specialized technicians from Taylor, the machines’ manufacturer, to service the frequently malfunctioning ice cream equipment.
However, this long-standing issue may soon see a resolution after the U.S. Copyright Office recently granted an exemption. This allows third-party technicians to diagnose and repair commercial food equipment, including McDonald’s ice cream machines.
Previously, franchise owners were limited by digital locks set by Taylor. That prevented anyone outside the company from servicing the equipment.
The change followed efforts by repair advocates, who filed for an exemption last year under the Digital Millennium Copyright Act (DMCA). These advocates successfully argued that the law should allow qualified, independent technicians to bypass the machines’ digital locks for repairs.
As a result, franchise owners can now legally enlist third-party repair services, which could significantly reduce ice cream machine downtime.
This exemption is not the first of its kind. Past rulings have allowed consumers to “jailbreak” cellphones and repair certain components of video game consoles, signaling a broader shift in favor of consumer repair rights.
An app called McBroken tracks McDonald’s ice cream machine outages in real time. McBroken’s interactive map displays a green or red dot for each location in the U.S., indicating whether machines are operational or broken.
As of the latest update, over 13% of McDonald’s ice cream machines nationwide were down. In New York City, nearly 40% were offline.
Starting this week, McDonald’s franchise owners will have the official go-ahead to bring in third-party repairs.
The new policy could mean fewer broken machines and fewer disappointed McFlurry fans nationwide.
How a DC pizza chain got tossed into controversy over a dessert advertisement
Washington D.C.-based restaurant chain &Pizza’s owner apologized for and removed a controversial dessert on Wednesday, Oct. 23, that referenced the late Washington D.C. Mayor Marion Barry. The apology came after protests outside the store and social media backlash from critics who claim it tarnished Barry’s legacy.
Some community activists, like Ronald Molten, even urged people to boycott the restaurant earlier this week.
The owner of &Pizza, Mike Burns, apologized for the pizza joint’s advertisement for a new dessert called “Marion Berry Knots.”
&Pizza advertised the menu item on Monday, Oct. 21, using what appeared to be several drug references such as “These knots will blow you away,” and “Our classic knots got a bump,” as well as imagery of powdered sugar on glass mirrors.
The advertisement seemed to reference Barry’s 1990 drug arrest. The sting was videotaped by the FBI, and Barry famously accused his ex-girlfriend of setting him up.
The former four-term mayor and civil rights leader was convicted of crack cocaine possession and sentenced to six months in prison.
Burns released a statement about the dessert advertisement, saying, “Candidly, we made a mistake. And for that, we sincerely apologize. We hear the D.C. community and have removed Marion Berry Knots from our menu effective immediately.”
Burns also said that he was reaching out to community activists who have expressed anger over the dessert’s advertisement. Adding, “We have read the countless messages and social media posts and understand the frustration this has brought forth, especially to the Barry family. We recognize his impact on the district and greater capital area and understand why his legacy remains as strong as it is today.”
It’s yet to be seen if Burns’ letter will lead activists to change of heart on planned protests on Friday, Oct. 25.
Harris, Trump speak on importance of election with 13 days to go
With less than two weeks until Election Day, Vice President Kamala Harris got some help on the campaign trail from a former president and a famous rapper, while former President Donald Trump targeted a certain voting block. And one of McDonald’s famous burgers has been linked to a deadly E. coli outbreak. These stories and more highlight your Unbiased Updates for Wednesday, Oct. 23, 2024.
Harris, Trump speak on importance of election with 13 days to go
With less than two weeks to go until the next U.S. president is chosen, both candidates are highlighting the importance of this year’s election as they make their final pushes to sway undecided voters on the campaign trail.
During an interview with NBC News on Tuesday, Oct. 22, Vice President Kamala Harris once again addressed how her presidency would be different than that of President Joe Biden.
“Let me be very clear, mine will not be a continuation of the Biden administration,” she said. “I bring my own experiences, my own ideas to it, and it has informed a number of my areas of focus, most of which are on to your point, lowering costs. The voters know it, I know it.”
During the interview, Harris was asked about why she is reluctant to talk about the historic nature of her candidacy. If she were to win, she would become the first female U.S. president.
“Well, I’m clearly a woman, I don’t need to point that out to anyone. The point that most people really care about is, can you do the job, and do you have a plan to actually focus on them?” she said. “My challenge is the challenge of making sure I can talk with and listen to as many voters as possible and earn their vote. And I will never assume that anyone in our country should elect a leader based on their gender or their race. Instead, that that leader needs to earn the vote based on substance and what they will do to address challenges.”
In Detroit, a rally was held in support of the vice president featuring rapper Eminem and former President Barack Obama.
“I also think that people shouldn’t be afraid to express their opinions, and I don’t think anyone wants an America where people are worried about retribution, or what people will do if you make your opinion known,” Eminem told rallygoers. “I think Vice President Harris supports a future for this country where these freedoms and many others will be protected and upheld.”
“We’re not going to play games because we’re going to lose our country, our country is failing,” Trump said. “We don’t know what we’re doing. We’re laughed at all over the world. [Chinese] President Xi [Xinping] thinks we’re stupid. [Russian President Vladimir] Putin thinks we’re stupid. That would have never happened if I were president. Putin would have never ever got into Ukraine.”
Then the former president returned to North Carolina for a rally where he criticized the vice president for not having any campaign events so close to Election Day.
THANK YOU, NORTH CAROLINA! This election is a choice between whether we will have four more years of incompetence, failure, and disaster—or whether we will begin the FOUR GREATEST YEARS in the HISTORY OF OUR COUNTRY! pic.twitter.com/JJhJsJcOHk
“You know what she did?” he said. “She took a day off. How do you take a day off 14 days — you don’t take days off, right? I’ve gone 52 days, now, I got 14 more. We don’t take days off we got to win this thing if we don’t win it our country is in big trouble.”
Next up on the campaign trail, Vice President Harris will visit Pennsylvania Wednesday and then on Thursday, Oct. 24, hold a rally in Atlanta alongside Bruce Springsteen. Former President Trump will visit Georgia Wednesday and will record an interview on Joe Rogan’s podcast on Friday, Oct. 25.
The Georgia Supreme Court said it will not step in to reinstate Republican-backed new election rules ahead of Election Day. Seven of the rules, put in place by the State Election Board after the 2020 election, were declared “illegal, unconstitutional, and void,” by a lower-level judge last week.
On Tuesday, Georgia’s supreme court rejected the Republican-led effort to put the rules, which include one requiring ballots be hand-counted and two related to certifying results, back in place and declined to consider an expedited appeal.
Israel says it killed man next in line to lead Hezbollah
Israel said it has killed the man who was next in line to take over as the leader of the militant group Hezbollah. Israeli officials say an air strike in Beiruit, Lebanon killed Hashem Safieddine a few weeks ago, along with other commanders of the Iran-backed militant group.
Hezbollah has not confirmed Israel’s claim that Safeiddine is dead.
🔴 Hashem Safieddine, Head of the Hezbollah Executive Council and Ali Hussein Hazima, Commander of Hezbollah’s Intelligence Headquarters, were eliminated during a strike on Hezbollah’s main intelligence HQ in Dahieh approx. 3 weeks ago.
This comes as U.S. Secretary of State Antony Blinken is in the Middle East looking to broker a cease-fire deal between Israel and Hamas in the wake of the the killing of Hamas leader Yahya Sinwar and bring more humanitarian aid to Gaza.
On Tuesday, Oct. 22, Israeli leaders told Blinken it’s not Israel’s policy to isolate northern Gaza, despite recent United Nations claims that Israeli authorities have denied efforts to bring more aid to the area, according to an NBC News report.
In a letter this month, Blinken and Defense Secretary Lloyd Austin gave Israel 30 days to increase basic humanitarian aid to Gaza or risk restrictions on U.S. military assistance, as required under U.S. law. Israeli officials said they have taken actions in response to the letter, and while Blinken acknowledged progress has been made, he said it is not sufficient.
McDonald’s Quarter Pounders linked to multi-state E. coli outbreak
The CDC has issued a safety alert over a McDonald’s staple: the fast-food chain’s iconic Quarter Pounder. Health officials say McDonald’s Quarter Pounders have been linked to E. coli outbreaks in at least ten states.
E. COLI OUTBREAK: CDC is investigating 49 illnesses in 10 states linked to McDonald’s Quarter Pounder hamburgers. If you ate a Quarter Pounder hamburger from McDonald’s and have severe symptoms of E. coli, contact your healthcare provider. https://t.co/g87itkupCQpic.twitter.com/gHzUKCnTi9
The CDC says, so far, it appears the onions used as a topping on the burgers are the likeliest source of the outbreak. McDonald’s has now stopped using the onions and is not serving the Quarter Pounder in affected states.
In a statement, the company said it believes the onions came from a single supplier.
Denny’s closing 150 restaurants, including 50 by end of 2024
It seems Denny’s hasn’t been such a grand slam for Americans lately. The diner chain, known for its Grand Slam breakfast, is closing 150 of its restaurants.
Denny’s, which has been in business for more than 70 years, says the focus is on closing locations that are too old to remodel, as well as some in unprofitable areas. It has not yet specified which locations are shutting down.
FAA finalizes rule for electric air taxis to enter service
We might soon be riding around in flying vehicles called electric air taxis after the Federal Aviation Administration released what its say is the “final piece of the puzzle.”
An extraordinary moment for aviation! Our rule for training and certificating pilots to fly powered lift is the final piece of the puzzle to get these revolutionary aircraft flying safely in our skies. https://t.co/96Q7TQZfkMpic.twitter.com/7RvSqbdGT8
The FAA issued its new rules Tuesday regarding the planes — 880 pages of special regulations including training protocols for pilots and operational requirements for the half-airplane, half-helicopter air taxis. The planes act like a helicopter during takeoff then change modes to be more like an airplane during flight, before switching back for the landing.
The FAA calls it the introduction to “a new category of aircraft.” The first electric air taxi could be operational by sometime next year.
Israel has launched a new set of attacks on Hezbollah’s financial operations in Lebanon. And we’re learning more about a catastrophic failure on a dock at what was supposed to be an evening to celebrate culture. These stories and more highlight your Unbiased Updates for Monday, Oct. 21, 2024.
Israeli officials said the organization held funds used to directly finance Hezbollah’s activities.
The National News Agency in Lebanon reported at least 11 strikes in southern Beirut targeting al-Qard al-Hassan. There were no immediate reports of casualties.
⭕Overnight, the IAF conducted a series of targeted, intelligence-based strikes against dozens of facilities and sites used by the Hezbollah terrorist organization to finance its terrorist activities against the State of Israel. The strikes were conducted in the areas of Beirut,…
Meanwhile, United States Defense Secretary Lloyd Austin said the THAAD missile defense system the U.S. recently sent to Israel is now in place and ready for use when needed. This comes as Israel prepares its response to an Iranian missile attack earlier this month. U.S. officials are investigating the apparent leak of two top-secret documents that show American spy agencies tracking possible Israeli preparations for that attack.
Trump works at PA McDonald’s; Harris spends birthday at GA churches
With just 15 days to go until Election Day, the campaign trail involved stops over the weekend at a Pennsylvania McDonald’s and Georgia churches.
Republican nominee former President Donald Trump donned an apron Sunday, Oct. 20, joining McDonald’s workers at a location in suburban Pennsylvania near Philadelphia. Trump chose McDonald’s as a campaign stop as he questions Democratic nominee Vice President Kamala Harris’ account of working at a McDonald’s as a summer job during her college years.
Trump was on the fry station before heading over to the drive-thru window where he ended up holding an impromptu press conference with reporters.
Later, Trump held a town hall in Lancaster, Pennsylvania, where he spoke about his plans for the economy and called out Vice President Harris’ changing stances on fracking — but took time to wish her a happy birthday.
“By the way, it’s her 60th birthday, so I want to wish her a happy 60th birthday,” Trump said. “Happy birthday and many more. Happy birthday. I mean it. And I do mean it, actually.”
Trump then headed to Pittsburgh to attend the Steelers football game.
As for the vice president, Kamala Harris spent her 60th birthday visiting two churches in the Atlanta, Georgia area where she was joined by Rock and Roll Hall of Fame musician Stevie Wonder. Harris called on churchgoers to get out to vote.
Vice President Harris: Faith is a verb. It is something that manifests itself in our actions, our deeds, and our service. Our strength is not based on who we beat down. It is based on who we lift up. That's not what we see from the other side in this election pic.twitter.com/zM3yjXpJ1r
“I say as we move forward, let us look at where we are and understand the lesson of the gospel of Luke,” Harris said. “Because right now, each of us has an opportunity to make a difference. In this moment, our country is at a crossroads, and where we go from here is up to us as Americans and as people of faith. And now we ask a question, we face this question: what kind of country do we want to live in?”
On Monday, former President Trump will tour Hurricane Helene damage in North Carolina and Vice President Harris will hold a rally in Pennsylvania.
Navy confirms deaths of 2 crew members after jet crashes in Washington
U.S. Navy officials have confirmed searchers found the remains of two crew members of a jet that crashed near Mount Rainier in Washington last week. They said the crew members will not be identified until 24 hours after their families have been notified.
The jet carrying the two crew members went down during what the Navy said was a routine training flight last Tuesday, Oct. 15. The cause of the crash is still under investigation.
7 people killed in gangway collapse on Georgia barrier island
Authorities in Georgia are investigating after seven people were killed when a gangway collapsed on one of the state’s barrier islands Saturday, Oct. 19. They were among hundreds of people on Sapelo Island for a celebration of Gullah Geechee history and its unique blend of African culture and American life.
The aluminum gangway suffered structural failure as historic Sapelo Island hosted an event celebrating its Gullah Geechee history and culture. https://t.co/4CW2GRYcvH
The coroner said the victims were all in their 70s, except for one woman in her 90s. Authorities said as many as 40 people were on the gangway and about 20 people fell into the water when it collapsed shortly before 4 p.m. Saturday.
A team of engineers and construction specialists is now investigating why it failed.
Millions of Cubans in the dark amid power grid collapse
As Cuba deals with major issues with its power grid, Hurricane Oscar made landfall Sunday before being downgraded to a tropical storm. Oscar is expected to bring heavy rain and damaging storm surge to parts of the country as millions are still without access to power and attempts to restore much of the nation’s electric grid have failed.
On Sunday afternoon, the Cuban electrical union said power had been restored to neighborhoods where more than 216,000 people live in the capital city of Havana, which is home to about 2 million people. However, by Sunday night, the power grid had collapsed again — the fourth time since Friday, Oct. 18.
Some Cubans have taken to the streets to protest the ongoing blackouts, many banging pots and pans and disrupting traffic.
Officials had initially said power would be restored by Monday or Tuesday, Oct. 22, but it’s likely the latest setback will delay that timeline.
It took five games and a 67-62 overtime win over the Minnesota Lynx for the Liberty to walk away with the title. Jonquel Jones was named the Finals MVP.
The Liberty had been only the original WNBA franchise without a championship, until now.
The big win also came on the same night we found out it would be the Los Angeles Dodgers taking on the New York Yankees in the World Series to decide the best in baseball. Game 1 is set for Friday, Oct. 25.
Federal officials say Starbucks broke the law when it cut unionized workers hours
Starbucks is facing accusations that could cost it tens of millions of dollars. The general counsel of the National Labor Relations Board (NLRB) filed a complaint on Thursday, Oct. 10, that accuses Starbucks of cutting workers’ hours at nearly 300 unionized stores without consulting union officials in late 2022 and early 2023.
Once a business is unionized, it is typically illegal for employers to change pay or scheduling without negotiating with the union first. NLRB officials request that Starbucks pay wages and benefits owed to the employees as if their hours had not been slashed.
Several thousand employees are covered in the complaint, and a lawyer representing the plaintiffs said damages could soar past $30 million, adding that the reduced unionized workers’ hours were in place for almost two years. It was reported that some workers even lost health care and other benefits as a result.
When the NLRB files a complaint against a company, it usually means that federal officials found merit with workers complaints, and a trial could ensue unless a settlement is reached beforehand.
A barista and union leader called the court filing “a significant move” that could impact 8,000 workers. Starbucks has not responded to the complaint as of the publication of this report.
Starbucks employees previously accused the company of being anti-union and using underhanded tactics to prevent unionizing by employees.
Workers at 500 Starbucks nationwide have joined the Workers United Union since 2021, and the company and union are reportedly making ground toward a collective bargaining agreement.
Starbucks and the union are still working on the exact details of the contract.
On Thursday, Oct. 10, the fast-food chain is releasing its Chicken Big Mac nationwide, giving its flagship menu item a poultry version for all U.S. customers for the first time since the Big Mac’s debut in the late 1960s. The Chicken Big Mac is following a trend in the industry that puts more emphasis on chicken options.
If the Waffle House stays open, people often take that as a sign a storm is not likely to devastate their area. However, if the popular breakfast chain closes down, you need to leave – at least according to the Waffle House Index.
The Waffle House Index is a real, though not scientifically backed, measure of how bad a storm is. It’s not just locals who use it, the Federal Emergency Management Agency (FEMA) does too, as a way to identify communities most in need of immediate help after a storm.
Take Hurricane Helene, for example. That storm barreled through six states nearly two weeks ago, causing mass devastation.
In parts of North Carolina and Georgia — which bore the brunt of Helene’s impacts — about two dozen Waffle House restaurants are still closed, and several others are only serving a limited menu.
Waffle House has more than 1,900 locations in the U.S., mostly in the Southeast and mid-Atlantic.
The chain, which normally stays open 24/7, 365 days a year, is known for being well-prepared for disasters and either staying open through them or reopening quickly after. It has a limited menu ready to go for when there are food shortages and power outages. It can even put together “Waffle House jump teams” to quickly reopen restaurants as soon as it’s safe to after a disaster.
Waffle House has been so good at predicting how bad a storm will be that in 2011, then-FEMA Administrator Craig Fugate was the one who created the term Waffle House Index.
The Waffle House Index has three levels: green, yellow, and red. Because Waffle House already has a plan in place for power outages and limited supplies, the index rarely reaches red.
So, what is the Waffle House Index telling us about Hurricane Milton? Things aren’t looking great for parts of Florida directly in its path, with dozens of locations closing to weather out the storm.
