What would increasing the price of Buffalo Wings do at a chain restaurant? Let me see if I understand the latest post on social media. Apparently, one of the investors, Mick McGuire, founder of Marcato Capital Management, believes share price could triple if the restaurant chain improves its business focus.
Here’s what Mick McGuire wanted to see:
- New talent on the Board of Directors and in management
- More emphasis on Buffalo Wings main business
- Ending the way new brands are introduced in high-functioning areas
This blogger did not understand a lot of investor language. All right, so I had to define cessation. Don’t laugh, at least I know the meaning. As a person who enjoyed dining out on occasion, I can see why these changes needed doing. If profits weren’t better in business, this restaurant was doomed to fail. McDonald’s didn’t get popular by making bad hamburgers or selling shoddy items. Their version of the Fit Bit had to be pulled from the Happy Meal due to children’s allergic reactions. I can deal with that.
I remember eating at the now defunct Rock Creamery before moving into my apartment. My friend, now deceased, and I used to stop in every so often to have lunch and sample some of the ice cream. The management sold the business to someone that made drastic changes. One of them cost them their core audience, the young people.
When we visited this place, the previous management had satellite television streaming through there. I thought, after In Living Color was cancelled, Keenan Ivory Wayans wouldn’t allow the show to be syndicated on any cable channel. Actually, he left because Fox aired repeats before any deal on syndication was made, without his authority. He thought it lowered the value. It played during a few of our visits. Since this place was within walking distance of the mall and other neighboring businesses, some of the workers came to get lunches, drinks or ice cream. Two high school girls played a card game, called Skip Bo, at one of the tables.
After the store ownership changed hands, the first thing they phased out was the satillite television. They replaced it with country music. My friend and I noticed the place being dark and almost empty except for a table of six to ten people, myself and my friend. A lot of what made the place attractive disappeared. Gone were the high school crowd and employees from surrounding businesses buying their food. Less than a month later, it closed.
As an owner of two websites, my job is to increase traffic. Like the establishment in this article, my job is to attract readers with engaging articles on trending web topics. In my case, I work alongside established news and social media for my core content. To me, if there is no way to tie the story to a trending news topic, it didn’t get written.
As for the situation with Mick McGuire’s letter, he’s right. Stick to the plan of operation.