Of course remodels are a financial risk. At completion of a remodel if the remodel does not generate enough new sales, after rent and service fees, to service the new debt the cost of the remodel is a waste. This situation is not an isolated case. One of my stores is running three per cent (3%) down after a remodel completed several months ago. They say give it time to build. I'm telling you that they truly don't know what they are doing and they absolutely don't give a damn. They have a single minded focus on completing the MRPs by a certain time regardless of inflicting serious damage to operator organizations and cash flow. Communication sucks. It is the worse ever seen. To hell with being "positive and contributive".
It is clear to me that the partnership is DEAD. The only questions now are how many operators will go bust , and when will Wall Street realize the turmoil and reflect it in the stock price? Steve E and Howdy Doody (CK) only care about the stock price! This ship is sinking FAST. Morale is the worst I have ever seen it in decades.
That's why I got out over four years ago. The handwriting was on the wall for at least the last 10 years, starting with McCafe. It hasn't stopped. Bottom line: They don't care what happens to your post-debt cash flow with mandatory reinvestments or pre-debt cash flow with discounting. Period!
MRP's? Haven't heard that term in years that went out with the old leadership it is now BBV2020 & SAM, any MRP you did in 2012-2014 needs to be redone. Not sure if previous posters remodel included SAM it even gets dumber wait to you do one of those I am sure they will not be around long. When the operator only puts in $13K and the company is putting in $70k it will not take long for that program to be eliminated. On top of that, it does nothing to increase sales. I just do not get all the plastic panels and walls to hide the kitchen, then cheap oak wood slates for McCafe area and the cheapest counters I have ever seen. The next US President/CEO will have us ripping that all out in a few years, claiming we did not pay for it etc.
5 comments:
Of course remodels are a financial risk. At completion of a remodel if the remodel does not generate enough new sales, after rent and service fees, to service the new debt the cost of the remodel is a waste. This situation is not an isolated case. One of my stores is running three per cent (3%) down after a remodel completed several months ago. They say give it time to build. I'm telling you that they truly don't know what they are doing and they absolutely don't give a damn. They have a single minded focus on completing the MRPs by a certain time regardless of inflicting serious damage to operator organizations and cash flow. Communication sucks. It is the worse ever seen. To hell with being "positive and contributive".
It is clear to me that the partnership is DEAD. The only questions now are how many operators will go bust , and when will Wall Street realize the turmoil and reflect it in the stock price? Steve E and Howdy Doody (CK) only care about the stock price! This ship is sinking FAST. Morale is the worst I have ever seen it in decades.
That's why I got out over four years ago. The handwriting was on the wall for at least the last 10 years, starting with McCafe. It hasn't stopped. Bottom line: They don't care what happens to your post-debt cash flow with mandatory reinvestments or pre-debt cash flow with discounting. Period!
MRP's? Haven't heard that term in years that went out with the old leadership it is now BBV2020 & SAM, any MRP you did in 2012-2014 needs to be redone. Not sure if previous posters remodel included SAM it even gets dumber wait to you do one of those I am sure they will not be around long. When the operator only puts in $13K and the company is putting in $70k it will not take long for that program to be eliminated. On top of that, it does nothing to increase sales. I just do not get all the plastic panels and walls to hide the kitchen, then cheap oak wood slates for McCafe area and the cheapest counters I have ever seen. The next US President/CEO will have us ripping that all out in a few years, claiming we did not pay for it etc.
GO TO DALLAS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Band together or hang separately.
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