Economy

bananas

(27,509 posts)

10. Is it going to close or split off?

Wed Jan 1, 2014, 06:50 PM

Jan 2014

The NYT says it's going to be "split off", which means it could stay open.

http://dealbook.nytimes.com/2013/12/19/darden-to-spin-off-of-red-lobster-amid-shareholder-pressure/?_r=4

Red Lobster to Be Split From Darden’s Empire

<snip>

Separating the low-growth brand would let its new management team focus on running the company for its significant cash flows, while letting the rest of the company focus on its other brands’ needs, including different marketing and pricing strategies.

<snip>

“While today’s announcement is a first step toward improving focus and operating execution at Red Lobster and Olive Garden, we view the plan Darden announced today as incomplete and inadequate,” James Mitarotonda, the hedge fund’s chief executive, said in a statement on Thursday.

<snip>

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Red Slobster to close [View all] no1uno Jan 2014 OP

Not so fast. Laelth Jan 2014 #1

Thanks - the NYT doesn't say it's going to be closed either. nt bananas Jan 2014 #11

that is unfortunate... hlthe2b Jan 2014 #2

Good that this a false assertion. It's not closing! MADem Jan 2014 #3

Nope another my bads.... no1uno Jan 2014 #4

Welcome to DU BlueToTheBone Jan 2014 #5

Darden troubles - so sad not lunasun Jan 2014 #6

re: sucko company and sucko food Galileo126 Jan 2014 #7

I think you'll see most mid level restaurants in trouble Warpy Jan 2014 #8

It will be back, what is dying is the corporate service-by-spreadsheet model. Egalitarian Thug Jan 2014 #9

Yes, but that model is still set into stone at B-schools around the country Warpy Jan 2014 #12

That has been and remains of life's great mysteries to me as well. Egalitarian Thug Jan 2014 #13

Is it going to close or split off? bananas Jan 2014 #10

I live on the Gulf of Mexico. Fuddnik Jan 2014 #14