Arby’s buys Wendy’s

25 04 2008

I don’t eat fast food very often, but when I do, I usually eat Arby’s.  I love their fries.  They were one of the first and still one of the few that actually use fresh cut fries instead of those crappy processed ones.  The Associated Press had an article yesterday on the sale of rival fast food chain Wendy’s.

The deal comes as Wendy’s struggles with declining profits and weak sales compared with rivals McDonald’s Corp. and Burger King Holdings Inc.

Wendy’s said Thursday that its first quarter profit was down 72 percent to $4.1 million, or 5 cents a share, in part because of expenses tied to the work of a special board committee that has been studying ways to boost the company’s stock. Revenue fell to $513 million from $522 million a year ago.

Sales at company-owned stores opened at least a year, considered a key indicator of a retailer’s strength, fell 1.6 percent in the quarter and 0.1 percent at U.S. franchise restaurants.

So, how would Dave Thomas feel about this?

Thomas’ daughter Pam Thomas Farber said the family was devastated by the news.

“It’s a very sad day for Wendy’s, and our family. We just didn’t think this would be the outcome,” said Farber, 53.

If her father were alive to hear news of the buyout, “he would not be amused,” she said.

No kidding.  It seems when the founder dies, those in charge always find a way to ruin a good thing.  It happened to Col. Sanders.  It happened to Sam Walton and now it’s happening to Dave Thomas.

Reminds me of the Chris Farley classic Tommy BoyIt’s sad.  In their lifetime, these American icons build up their dream to make it something great, but as soon as they pass on, corporate greed takes over and destroys the concept and turns people off.  In all fairness, I’ve never been a huge fan of Wendy’s anyway.  I always thought it was too greasy.  As a kid, I ate there all the time.  My dad and brother loved it.  As long as I could get a Frosty, I was happy, but as I grew older, I sorta backed away from fast food. 

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