Categories
Culture

Top Fortune Cookie Writer In The US Quits Over Writer’s Block

Fortune-Cookie-Stk-001

For 30 years, Donald Lau has been inspiring millions with the fortunes he writes tucked away in crescent cookies. The “Chief Fortune Writer” at Wonton Foods is stepping down after decades of writing fortunes, reports Time.

The reason behind his departure? Writer’s block.

Lau told Time that he would write 100 fortunes a year, but now his fortunes have dropped to two or three a month. Decades ago when he first started, according to Lau, the fortunes were…fortuitous. Now, they’re more inspirational than anything.

Wonton Foods, is considered the premiere leader of future cookies, noodles, and wrappers. Lau will continue to serve at the Brooklyn-based company, however, as the Chief Financial Officer. Maybe a change of tasks will shake that writer’s block.

Wishing you the best of fortunes, regardless, sir.

Categories
Fast Food News Restaurants

10% Of Chipotle Bought By Activist Investors, Here’s What We Know

Chipotle-Ext-Stk-021

Chipotle has seen its ups and downs this past year. With all the outbreaks, losses, and disavowment from fans, the fast-casual Mexican Grille needs to make a major comeback.

According to NRN, the Securities and Exchange Commissions filings on Tuesday revealed that investor group Pershing Square Management LP took a 9.9 percent stake in Chipotle. CEO William Ackman called the stock undervalued and an attractive investment with strong growth opportunity for Pershing.

As an activist investor, Pershing is pretty well known for making crucial changes. Here are some of the things we know about Ackman and Pershing’s move into Chipotle so far:

– The chain could start serving breakfast, CNBC reports. In a credit note to clients, Credit Suisse, a leading financial services holding company, says a breakfast menu could help the chain improve digital engagement. Other possible changes include new beverages and drive-thru options.

– Credit Suisse also says with Pershing holding a seat on the board, they could move Chipotle away from the attempts to win customers back through discounts and giveaways and focus on rebuilding the brand instead.

– Fortune did the math and estimated that Ackman has already made about $80 million since buying Chipotle stock about a month ago, though a spokesperson for Pershing declined to comment on those numbers.

Whatever changes Pershing looks to make in the flailing company, we’ll see the investor group’s plans for Chipotle soon enough. Until then, we’ll quietly enjoy the occasional free burrito and embrace the Sandman’s kiss while on the clock.

Categories
Fast Food

McDonald’s Reveals Its Big Plan To Turn Around Their Flailing Company

McD-Lovin-Tale

After a week of hyping a big announcement, McDonald’s CEO Steve Easterbrook has finally revealed the company’s upcoming plans to turn itself around. Looks like a comprehensive restructuring of the company is in the works, announces the CEO.

McDonald’s Corp. will plan to operate fewer “company-owned” restaurants and cut $300 million a year in general and administrative spending, reports NRN. This also means pushing more franchise-owned stores.

Easterbrook admitted that McDonald’s current business structure has become “inefficient” and that it lacked “fair accountability for fair performance.” Apparently, McDonald’s has been using “legacy” business models for years and that just doesn’t fly anymore. Easterbrook, who’s only been CEO for a month, says that he’s working to modernizing the company’s current business model.

The fast food chain has underperformed in sales for the past two years. This lead to a worldwide closing of hundreds of unprofitable restaurants.

McDonald’s has recently gone through many menu changes and brand redirections in the past two financial quarters. This includes the “Create-Your-Taste” burger customization kiosks, the short-lived “Pay with Lovin” campaign and cutting 9 items from the staple menu.

Easterbrook admitted that sales have definitely been poor and “The numbers don’t lie.”

Perhaps with these new goals, McDonald’s Corp. might see a noticeable change in its sales numbers by next year.