CEO of Red Lobster was the CEO of PF Chang's. Breh is only 35.

[Thavoiceofthevoiceless]

So it’s essentially a deal with the devil. Why make the deal?

For the company, it becomes someone else's problem. For the private equity firm, it gives them the opportunity to bleed it dry for whatever is left of the company.

In the end of the employees and franchise owners are the ones who get fukked over in the end as it's perfectly legal what they're doing.

It’s why you see the first thing that a company does when bought by a private equity firm is to start churning out of loads of content.

 

[Bunchy Carter]

That good for bruh

 

[Pull Up the Roots]

Can you explain like I’m 5 for me?

Vampire capitalists... I mean, private equity firms use a strategy called "asset-stripping" that destroys the companies they acquire. In 2014, Golden Gate Capital bought Red Lobster and sold off its valuable assets, which included the land that their 500 restaurant locations was built on. They made a cool $1.5 billion. You know how much was invested back into Red Lobster? None. Instead, the money went to the firm, resulting in another burden on Red Lobster. They now had to pay rent on the properties they once owned, which added hundreds of millions to their yearly expenses. Golden Gate Capital then sells off their remaining stake in Red Lobster, making out like fat cats, and destroying another company in the process.

 

[TEH]

But but but but college doesn’t matter

but but but getting an eduction is a waste of money

 

[Alvin]

You answered it as I was typing lol.

They keep blaming the endless shrimp promotion, while also leaving out the important detail that the private equity firm owned the shrimp supplier and were essentially forcing them to buy it from them and only them.

that ain't illegal?

 

[cyndaquil]

Congrats to him and everything no disrespect breh is well accomplished but I couldn't help but think about this meme when I saw him

 

[Thavoiceofthevoiceless]

that ain't illegal?

Nope. It’s perfectly legal, which is why you see more and more equity firms do it.

If you see a company being bought by one, it’s essentially a wrap for them.

 

[Thavoiceofthevoiceless]

But but but but college doesn’t matter

but but but getting an eduction is a waste of money

I wouldn’t necessarily use this story to make that argument considering that 99.99% of people aren’t going to get these types of positions.

He is a Harvard Business School grad, meaning that he had the opportunity to establish the connections to get that type of role more than the average person.

 

[King Poetic]

Perfect example of red lobster is to watch the goodfellas scene where pauly bought the restaurant and they would bring the food in one door and take it right back out the other door and when there’s nothing less you burned it down

 

[Luke Cage]

They keep using that wack ass excuse of "endless shrimp" being the demise of Red Lobster instead of keeping it real about what really happened and how it's been doing other companies out here as well

The reason red lobster and lots of other casual dinings spots go under is because, they haven't done a good job marketing what kind of audience its for.
Used to be the place you take a date to dinner, but they've done nothing to push back against the notion that they are cheap and brehs would be corny to take a woman there. Ladies want upscale now.
So outside of that what do you have, corporate people taking their lunch break, and family outings. Problem is families don't take the kids out every day, not even every week. Its a more of special occasion thing.
So you basically living off the executives who might stop by during lunch. But they would just as soon hit up chipotle or some shyt too. Now you competing with fast food chains, but they are faster and cheaper options for a 1 hour lunch.
The needed to pivot towards upscale diners, exclusivty. Instead offering endless whatever, 2 for however. Bring in more expensive food options,
Make it a date night destination again. People want to be able to earn clout by showing off where they ate at.

 

[King Poetic]

He has to rebrand it first

Baby Boomers is still your heavy customer based

But inside the restaurant u have to get more updated in terms of technology for the younger crowds, change up/spice up your menu

 

[TEH]

I wouldn’t necessarily use this story to make that argument considering that 99.99% of people aren’t going to get these types of positions.

He is a Harvard Business School grad, meaning that he had the opportunity to establish the connections to get that type of role more than the average person.

It’s not like this is the only great position. It’s just one of the best examples of a great position. One of many that you can only get with degrees.

 

[NaijaProdigy Redux]

I know him. Great, sharp guy....he absolutely loves this shyt.

He's got a big task ahead of him but he loves a challenge.

 

[Thavoiceofthevoiceless]

It’s not like this is the only great position. It’s just one of the best examples of a great position. One of many that you can only get with degrees.

CEO is on a completely different level though, so we're not going to sit here and pretend like you can easily get it if you have a degree.

The story is specifically about a CEO who went to Harvard Business School and connections helped him get there.

 

[RennisDeynolds]

Harvard MBA and worked at a hedge fund so he was fast tracked. Interesting he took this route as he could have chilled in the Cut manage a hedge fund or went the Big Tech route.

Dont sleep on the golden parachutes for CEOs



Also he'd probably get stuck in the pack at the funds or big banks due to politics. Instead He's running multiple companies as CEO before 40 now.

Dude resume is crazy at his age