For burger baron Carl N. Karcher, the past week was bittersweet.
On Monday, Karcher was in New York to celebrate Carl Karcher Enterprises' switch to the New York Stock Exchange from the Nasdaq market. "It was a historical moment for me," said Karcher, founder of the Carl's Jr. fast-food chain. "And to think, we bought the first hot-dog cart just about 50 years ago."
Karcher had breakfast on Monday with NYSE Chairman William Donaldson and then purchased the first 100 shares of Karcher Enterprises shares to trade on the exchange. Karcher Enterprises' shares are now trading under the symbol CKR. The stock had traded as CARL on Nasdaq. Though Karcher Enterprises shares fell by 12.5 cents on Monday, the Dow Jones Industrial Average jumped 54 points. "We brought up the whole market," Karcher said with a grin.
Karcher returned to Anaheim Tuesday, and on Wednesday he attended funeral services for former President Richard Nixon in Yorba Linda.
Carl and his wife, Margaret, met Richard and Pat Nixon during the 1940s, when Nixon was campaigning for a seat in the U.S. House of Representatives. Karcher, who was establishing himself as a restaurateur, knew the Nixon family as the owners of restaurants in Whittier and Anaheim.