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BUSINESS
February 26, 2007 | From the Associated Press
Wendy's International Inc. is closing the restaurant where the nation's third-largest hamburger chain began in 1969. The iconic restaurant, filled with memorabilia and photographs of the late Wendy's founder, Dave Thomas, will close Friday, company spokesman Denny Lynch said. "This is a very difficult decision, but the truth is we kept it open for sentimental reasons much longer than we should have."
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CALIFORNIA | LOCAL
June 10, 2013 | By Rene Lynch, Los Angeles Times
As an actor, Harry Lewis took second billing to the likes of Humphrey Bogart and Edward G. Robinson, most notably in the 1948 film noir "Key Largo. " But he found his own starring role as a Los Angeles restaurateur who helped usher in the concept of the "gourmet burger" when he launched the ground-breaking Hamburger Hamlet restaurant chain, among others. Hamburger Hamlet - named after one of the signature items on the menu, as well as the role that beckons to actors of stage and film alike - became that rare high-low hit. Among the restaurant's regulars: Ronald Reagan, Elizabeth Taylor, Sammy Davis Jr. and Tony Curtis - all Lewis' buddies from the film business. But it was also a place for Los Angeles families looking for a night out that included milkshakes.
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BUSINESS
June 15, 2000 | GREG HERNANDEZ, TIMES STAFF WRITER
CKE Restaurants Inc. executive Andrew F. Puzder has been tapped to run the company's struggling Hardee's chain. Puzder, 49, who for years served as attorney for CKE founder Carl Karcher, takes over a chain that has been a major drain on the Anaheim company's resources. "He's got some heavy lifting ahead of him, because Hardee's is in a serious state of disrepair," said Allan F. Hickok, an analyst with U.S. Bancorp Piper Jaffray.
BUSINESS
April 21, 2012 | By Tiffany Hsu, Los Angeles Times
McDonald's Corp., the world's largest hamburger chain, keeps churning out profit — this time because of unexpectedly balmy weather and new products such as Chicken McBites. The Oak Brook, Ill., company Friday posted a profit of $1.27 billion, or $1.23 a share, in its first quarter. That's a 5% increase from the $1.21 billion, or $1.15, it earned during the same period in 2011. McDonald's revenue jumped 7.1% to $6.5 billion. Even though the chain is feeling pressure from rising food costs, it so far has managed to sustain a strong sales pace.
NEWS
September 28, 1987 | Associated Press
Burger King Corp., the nation's No. 2 hamburger chain hit recently by sagging sales, said today it had selected N. W. Ayer Inc. for its $200-million domestic advertising account, severing an 11-year association with J. Walter Thompson USA. It was the biggest single account change ever, industry analysts said. Ayer, Thompson and D'Arcy Masius Benton & Bowles had been identified last month as being finalists for the account.
BUSINESS
September 16, 2008 | From Times Wire Services
Shareholders of Wendy's International Inc. and Triarc Cos. approved a $2.34-billion deal that would make Wendy's, the nation's No. 3 hamburger chain, a part of billionaire investor Nelson Peltz's empire. Directors of both companies had already approved the transaction. Atlanta-based Triarc operates the Arby's fast-food chain and is owned by Peltz. Triarc said in April that it would buy Dublin, Ohio-based Wendy's for $26.78 a share in an all-stock deal.
BUSINESS
November 30, 1996 | Times Staff and Wire Reports
CKE Restaurants Inc., parent of the Carl's Jr. hamburger chain, said it raised its stake in Rally's Hamburgers Inc. to about 18%. Anaheim-based CKE, which first bought 2.3 million shares of Rally's last spring as part of a deal to operate Rally's restaurants in the West, said it exercised options to buy 587,607 additional shares at $3 each. Rally's is a Louisville, Ky.-based chain of 474 restaurants that is owned by Giant Group Ltd. of Beverly Hills.
BUSINESS
April 30, 2009 | TIMES WIRE REPORTS
Burger King Holdings Inc. said the swine flu outbreak in Mexico will probably cut into its sales for the year, leading the chain to cut its outlook after reporting a 15% rise in its fiscal third-quarter profit. The nation's No. 2 hamburger chain had to close dining rooms in all 118 of its Mexico City-area stores. Burger King earned $47 million, or 34 cents a share, matching the expectations of analysts polled by Thomson Reuters. Last year profit totaled $41 million, or 30 cents a share.
BUSINESS
October 23, 2008 | times wire services
A jump in global sales boosted McDonald's Corp.'s third-quarter profit by 11%, a bright spot among restaurant companies as strapped consumers balk at spending their cash on dining out. The nation's No. 1 hamburger chain cited the popularity of its sandwiches and drinks but reiterated that it was discussing changes to its Dollar Menu because of the high cost of ingredients. Consumers have cut back on spending and focused on necessities. Given the desire to save cash, fast-food sales have held up far better than those at pricier sit-down restaurants.
BUSINESS
June 20, 1989 | MARY ANN GALANTE, Times Staff Writer
Wendy's International has the beef, all right. It's with Carl Karcher Enterprises. The nation's No. 3 fast-food chain is sizzling over Karcher's purchase of 10 Wendy's restaurants in Arizona from a franchisee. On Monday, Wendy's sued Anaheim-based Karcher and the Wendy's franchisee, seeking damages of $119 million. The suit, filed in U.S. District Court in Tucson, claimed that Karcher "secretly consummated" the purchases after being warned repeatedly that Wendy's would object.
BUSINESS
September 2, 2010 | Bloomberg News
Burger King Holdings Inc., the second-largest U.S. hamburger chain, is in talks with 3G Capital about a buyout, a person familiar with the matter said. Shares of the Miami company, which is second to McDonald's Corp., surged the most in more than four years. A buyout might help Burger King repair relations with franchisees and allow the chain to distinguish itself from McDonald's, said analyst Mark Kalinowski with Janney Capital Markets. "We've seen quite a bit of private-equity interest in the restaurant space already this year," he said.
BUSINESS
April 30, 2009 | TIMES WIRE REPORTS
Burger King Holdings Inc. said the swine flu outbreak in Mexico will probably cut into its sales for the year, leading the chain to cut its outlook after reporting a 15% rise in its fiscal third-quarter profit. The nation's No. 2 hamburger chain had to close dining rooms in all 118 of its Mexico City-area stores. Burger King earned $47 million, or 34 cents a share, matching the expectations of analysts polled by Thomson Reuters. Last year profit totaled $41 million, or 30 cents a share.
BUSINESS
April 23, 2009 | Associated Press
McDonald's Corp., which has been thriving during the economic downturn, saw its first-quarter profit climb nearly 4% as more customers worldwide went to the Golden Arches for a cheap meal. Sales of chicken, breakfast and beverages were particularly strong, McDonald's said. The nation's No. 1 hamburger chain said it captured a bigger bite of the market in nearly every part of the world as consumers cut back on their spending and looked for a less-expensive alternative to sit-down restaurants.
CALIFORNIA | LOCAL
February 9, 2009 | Tony Perry
San Marcos has one. Vista does too. San Diego has several. Even Folsom in Northern California, a city best known for its state prison, just got one. But Escondido, which fancies itself the capital of affluent Northern San Diego County, has no In-N-Out restaurant. The city came close two decades ago, and therein lies a tale of lasting civic pain and unrequited love for the purveyor of hamburgers and fries.
BUSINESS
February 6, 2009 | Times Wire Reports
Rising Whopper sales failed to translate into bottom-line dollars for Burger King Holdings Corp. in the fiscal second quarter, the fast-food chain said. The nation's No. 2 hamburger chain reported that profit fell and missed Wall Street analysts' expectations by 4 cents a share owing to the effect of a stronger dollar. The Miami company also cut its full-year profit guidance, saying that as long as the dollar remained strong against other currencies, that would hurt Burger King's profit and cut into the benefit that fast-food companies are seeing from consumers seeking value during the recession.
BUSINESS
October 23, 2008 | times wire services
A jump in global sales boosted McDonald's Corp.'s third-quarter profit by 11%, a bright spot among restaurant companies as strapped consumers balk at spending their cash on dining out. The nation's No. 1 hamburger chain cited the popularity of its sandwiches and drinks but reiterated that it was discussing changes to its Dollar Menu because of the high cost of ingredients. Consumers have cut back on spending and focused on necessities. Given the desire to save cash, fast-food sales have held up far better than those at pricier sit-down restaurants.
BUSINESS
February 6, 2009 | Times Wire Reports
Rising Whopper sales failed to translate into bottom-line dollars for Burger King Holdings Corp. in the fiscal second quarter, the fast-food chain said. The nation's No. 2 hamburger chain reported that profit fell and missed Wall Street analysts' expectations by 4 cents a share owing to the effect of a stronger dollar. The Miami company also cut its full-year profit guidance, saying that as long as the dollar remained strong against other currencies, that would hurt Burger King's profit and cut into the benefit that fast-food companies are seeing from consumers seeking value during the recession.
BUSINESS
December 17, 1993 | MICHAEL FLAGG and GREG JOHNSON, TIMES STAFF WRITERS
It's one of the worst things that can happen to a company: The top person dies suddenly, leaving a void at the top. It's especially difficult for smaller businesses, where top managers may be family members and may not have planned who will succeed the owner or president. And it can mean trying times even for the best-run companies. "It can be absolutely devastating to have the rug pulled out from under people like this," says management consultant Diana Ho. "Yes, there's the future of the firm to consider, but there are also the personal repercussions."
BUSINESS
September 16, 2008 | From Times Wire Services
Shareholders of Wendy's International Inc. and Triarc Cos. approved a $2.34-billion deal that would make Wendy's, the nation's No. 3 hamburger chain, a part of billionaire investor Nelson Peltz's empire. Directors of both companies had already approved the transaction. Atlanta-based Triarc operates the Arby's fast-food chain and is owned by Peltz. Triarc said in April that it would buy Dublin, Ohio-based Wendy's for $26.78 a share in an all-stock deal.
CALIFORNIA | LOCAL
June 25, 2008 | From Times Staff and Wire Reports
Wilbur Hardee, an entrepreneur who founded the Hardee's restaurant chain in 1960 with a drive-in hamburger stand near the East Carolina University campus in Greenville, N.C., has died. He was 89. Hardee died Friday in Greenville of unspecified causes, according to St. Louis-based CKE Restaurants, which operates 1,900 Hardee's across the Midwest and Southeast and in 200 international locations. The Hardee's franchise has become a mainstay for CKE, which has seen sales and profits rise in recent years based on a strategy of giving customers what they want -- even if that happens to be a patently overindulgent Monster Thickburger with 1,420 calories and 107 grams of fat. Hardee's first drive-in restaurant didn't have tables or carhops, but it built a loyal following of customers who stopped in for 15-cent hamburgers cooked on a charcoal broiler.
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