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Yorkshire Global Restaurants Promotes Ron Powell
to President,Elevates Four Other Top Executives
=Press Release= LEXINGTON, Ky., Dec. 5 /PRNewswire/ -- Sidney J. Feltenstein, chairman, president and chief executive officer of Yorkshire Global Restaurants, Inc. (YGR), parent company to A&W Restaurants, Inc. and Long John Silver's Restaurants and a major domestic and international franchise quick service restaurant chain, announced the following promotions and organizational changes:
"It is becoming increasingly clear that A&W and Long John Silver's will be experiencing unprecedented change given our increasing focus on new restaurant growth, co-branded conversions, accelerated re-modeling, new product introductions, store operations and improved marketing," Feltenstein said. ...to view the entire release
AdPads, Inc announces the launch of its new Strategic Alliance Group
AdPads, Inc. the couponing, direct mail and printing company, announces the launch of its Strategic Alliance Group (SAG), "to develop key corporate working relationships with complimentary technology companies," according to a recent corporate statement.
AdPads created SAG to be responsible for all corporate acquisitions and mergers, franchise development and marketing well as international subsidiary expansion and liaison.
AdPads has imported management talent from some of the industries most successful firms. Joining with the firm is Mr. Charlie Jarvis, founder and director of several uniquely successful Internet online ventures. Mr. Jarvis has been retained as the company's financial consultant and strategic planning partner. Several key relationships are currently under study for near future merger/acquisition possibilities enhancing the company's visibility and prominence. According to Jarvis, "Based on the refined corporate business model, future horizontal growth through franchising should catapult this company to the forefront of the marketing industry."
In a recent interview with "The Wall Street Transcript" (AdPads, Inc. Chairman, President and CEO, David I. Brownstein was asked how they were going to implement franchising successfully. Brownstein stated, "Our director of franchise development is Terry Corkery. He is a former national franchise sales director for MAACO. Terry brings to us some 16 years experience in the franchising industry." Brownstein continued, "We've spent 3 years in research and development, perfecting a completely unique marketing system that essentially brings Madison Avenue to Main Street. Through franchising, we will now take what we've done in a local territory and stamp it across the country. It's an incredibly universal concept." ...to see the entire story
Max and Erma's sign a multiple franchise agreements for Green Bay, Milwaukee and Dayton markets
A new deal by Max & Erma's Restaurants will license at least three new franchises in Wisconsin and additional sites in Ohio it was announced Friday afternoon, Dec 1.
Maxemum Development, LLC, the Wisconsin franchise operator, expects the first 5,000 sq. ft. facility in early January and is exploring prospective sites to open three additional Max & Erma's in the next four years in the Green Bay and Milwaukee markets.
HMS Corporation, an Ohio firm, will open and operate a full-service Max & Erma's franchise in the Dayton International Airport slated for January 2001.
NEW YORK--(BUSINESS WIRE)--Dec. 1, 2000--Fitch has assigned `AAA' ratings to the notes of Arby's Franchise Trust based upon the financial guaranty financial policy provided by Ambac Assurance Corporation. The cash flows to service the notes are provided by royalties collected by the franchisor from franchisees for the right to use the Arby's brand name and trademark. See related story...
George Munoz, president and CEO of the Overseas Private Investment Corp. (OPIC) said that the federal agency "has agreed to extend direct loans to overseas franchisees," according to an article in the current edition of Franchising World
"The investment funds, project finance, and political risk insurance provided by OPIC fill a commercial void and support development in emerging economies," states the report.
The new plan requires that the U.S. franchisor have yearly sales of less than $250 million or an individual net worth of $67 million or less. The franchisor must also "be significantly involved through a franchise agreement, trademark or management systems usage, or the use of the franchisor products." ...for the full story
From Nation's Restaurant News
Krispy Kreme Doughnuts increased its store-opening forecast for the current fiscal year on the heals of a robust earnings report.
Third-quarter earnings doubled last years figure to reach $3.9 million. And Nation's Restaurant News reported that "nine-month earnings were $10.5 million, compared to $4.8 million for the same period a year ago."
Krispy Kreme raised its projected store openings for its current fiscal year from 28 to 34, and expects to open 36 stores in 2002, the report states. ......Read the story
Ambac Assurance Corporation's Financial Guarantee Simplifies Complex Deal for Investors
Ambac Assurance Corporation announced that is has provided a triple-A financial guarantee to Triac Companies, Inc.'s Arby's Franchise Trust a special purpose financing vehicle.
In this "innovative deal," the current value and future growth potential of franchise royalties and fees secure $290 million of non-recourse asset-backed notes issued in a private placement. The transaction is backed by the rights to collect franchise and royalty fees from current and future franchise owners throughout the U.S. and Canada, according to a corporate statement release Tuesday afternoon.
What makes this deal unique is that "the notes are linked to the value of the intellectual property of the Arby'sŪ brand through the fees paid for the use of the brand name, as opposed to the physical assets, such as property and equipment, of the fast-food franchise chain," said Jennifer Williams Costain, Vice President of Ambac Assurance. ``In structuring the transaction, we were able to isolate the stream of franchise and royalty payments from the core units of the franchise business," added Costain.
Assurance has earned triple-A ratings, the highest ratings available from Moody's Investors Service, Inc., Standard & Poor's Ratings Group, Fitch, and Rating and Investment Information, Inc. Ambac Financial Group, Inc. common stock is listed on the New York Stock Exchange (ticker symbol ABK). ...See the full story
A late entry from the Drudge Report warns that the continued slide of Salon.com stock could result in their being dropped from the NASDAQ and spell doom for the one-time Internet magazine giant.
This is just another result in the faltering dot-com market where it was reported that more than 8,500 jobs were lost just last week representing more than a 55% increase over the week before.
SALON's stock closed Wednesday afternoon at the perilous $1.00 a share level - a 20% drop from a week ago.
Just last year, SALON went public, offering 2.5 million shares at between $10.50 and $13.50 per share. But it now appears the marketplace has spoken -- and the marketplace has rejected SALON.COM, according to the Drudge Report.
The slump continues as venture capital tightens up and national advertiser continue to cut Internet based budgets.
Aside from direct franchises, this could have a broader impact on franchise businesses that rely on Internet sales.
H&R Block Inc. reported on Tuesday a larger second-quarter loss than a year earlier, citing expenses related to acquisitions as it continues expanding from its base of tax preparation services. The company "beat Wall Street expectations," says an AP report out yesterday. Analysts had predicted a quarterly loss of 55 cents per share for the tax preparation giant during its historically sluggish second quarter.
While revenues were up 73%, the net loss was $49.7 million, or 54 cents per share, compared with $44.7 million, or 46 cents per share, in the second quarter of 1999.... See the AP story