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☆ Ina Garten gave up a job at the White House to become an entrepreneur — without business experience. Here's what the risky move taught her.
▼ + stars: | 2024-10-03 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +9 min

Ina Garten gave up her White House job to buy a specialty food store called Barefoot Contessa. AdvertisementWhen Ina Garten gave up her job at the White House to buy a specialty food store in New York called Barefoot Contessa, she had never run a business. "I was too tired to go home, so I had cleared a space, wrapped myself in a sweater, and went to 'bed,'" Garten wrote. Related stories"I love when changing your behavior — in this case, how I dressed — changes everything without your saying a word," Garten wrote. Advertisement"Anna was important to me, so I didn't have a moment's hesitation in supporting her," Garten wrote.

Persons: Ina Garten, —, Garten, " Garten, Matthew Peyton, Joan Boyce, Instagram Garten, who'd, Contessa, Anna, Sybille van Kempen, Ina, Dean, DeLuca, Joel Dean, Robert Lachman, she'd, Barefoot Contessa, Jeffrey Organizations: Service, White, Food Network, George Washington University, Barefoot Contessa, Joan Boyce Jewelry, Contessa, Los Angeles Times, Barefoot, & $ Locations: New York, East Hampton , New York, Bridgehampton, East Hampton

☆ Who Can Achieve the American Dream? Race Matters Less Than It Used To.
▼ + stars: | 2024-07-25 | by ( German Lopez | Ashley Wu | ) www.nytimes.com time to read: +15 min

When the white Gen X child turned 27 in 2005, they could expect to make more than $34,000. But Mr. Cain did have a strong community — which he said taught him entrepreneurship and showed him he could dream big. Mr. Cain, 35, got a two-year degree in business management and first worked as a bank teller and financial adviser. At the same time, white millennials born to poor parents had a harder time than their white Gen X counterparts. Unlike Mr. Cain, Mr. Brown did not have a strong sense of community, as he bounced between his mother, his father and his grandparents.

Persons: Lawrence Cain Jr, Cain, ”, Asa Featherstone, Black, Derek Brown, Brown, He’s, “, It’s, ” Mr, Raj Chetty, Stefanie A, DeLuca, David B, Ralph Richard Banks, wasn’t, Benjamin Goldman, Cain’s Organizations: Abundance University, Business, Harvard, The New York Times, General Electric, Richer, Johns Hopkins University, Stanford, People, Black, White, Conservatives, Local, Bank of America Locations: Cincinnati, Northside, America, United States, American, China, India, Charlotte, N.C

☆ Conservative Influencer Is Charged in Jan. 6 Attack
▼ + stars: | 2024-03-18 | by ( Livia Albeck-Ripka | ) www.nytimes.com time to read: +1 min

A conservative social media influencer has been arrested on misdemeanor charges related to her involvement in the Jan. 6, 2021, riot at the U.S. Capitol, including an accusation that she helped to steal a table that the F.B.I. says was used to assault officers, according to court documents. The influencer, Isabella M. DeLuca, 24, of Setauket, N.Y., was arrested on Friday in Irvine, Calif., in Orange County, on several charges, including theft of government property, entering a restricted building, disorderly conduct and demonstrating in a Capitol building. After Ms. DeLuca “passed the table out of the window,” according to the complaint, she appeared to use her cellphone to record video or take photographs of rioting. She later deleted several social media posts relating to the attack in a likely “attempt to thwart any subsequent criminal investigation,” according to the complaint, which was prepared by an F.B.I.

Persons: influencer, Isabella M, DeLuca, Ms, DeLuca “ Organizations: U.S . Capitol, Capitol, District of Columbia Locations: Setauket, Irvine , Calif, Orange County, U.S

☆ Celebrities are paid a shocking amount for 30-second Super Bowl ads
▼ + stars: | 2024-02-09 | by ( Elizabeth Wagmeister | ) edition.cnn.com time to read: +8 min

Los Angeles CNN —After Ben Affleck appeared as a Dunkin’ drive-thru worker in a Super Bowl commercial last year, the breakfast chain’s sales exploded. “They sold more donuts the next day than any other day in their history,” an individual close to the Dunkin’ Super Bowl campaign told CNN. Affleck was paid close to $10 million dollars for last year’s Dunkin’ Super Bowl commercial, three sources with knowledge of the partnership told CNN. It’s rare for someone that you think of as a true movie star to be paid less than a million.”Most Super Bowl shoots are usually one to two days, the agent added. Even though we’ve got over 30 celebrities in the Super Bowl this year, we had over 70 offers.

Persons: Ben Affleck, Dunkin, “, Affleck, ” Scott Murphy, Dunkin ’, Affleck’s Dunkin, Matt Damon, Larry David, Sam Bankman, David, Michael Lewis, Jennifer Aniston, ”, David Schwimmer, Uber, Chris Pratt, Pringles, Jason Momoa, Martin Scorsese, Tim Curtis, Peter DeLuca, Zach Braff, Donald Faison, John Travolta, Jennifer Beals, Tina Fey, John Cena, Usher, it’s, we’ve, Curtis, ” Curtis, “ You’ve, —, Aniston, Schwimmer, Jelly Roll, David Beckham Organizations: Los Angeles CNN, Bowl, “, CNN, Boston, Equity, Eastern Congo Initiative, Artists Equity, Super, Hollywood, WME, Mobile, Super Bowl, BMW, CBS Locations: Hollywood, Victoria

☆ Subway franchisees are underwhelmed by its new $6,000 slicers
▼ + stars: | 2024-01-24 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

Last year, Subway paid to install $6,000 slicers at the chain’s 20,000 US locations in response to its rivals serving freshly sliced meat. The results, so far, have been a “mixed bag,” according to Bill Mathis, the chairman of the North American Association of Subway Franchisees (NAASF), which represents as many as half of Subway locations on the continent. Franchisee’s flaring tensionsThe candor expressed by Mathis isn’t the first time franchisees have expressed their frustration with Subway. Subway, a privately held company, highlights praise from some franchisees during its periodic financial releases. In 2022, a release featured a quote from Donna Curry, a Subway franchisee that owns about 65 locations.

Persons: Bill Mathis, ” Mathis, “, Mathis, he’s, ”, there’s, it’s, you’re, Mathis isn’t, Elisabeth DeLuca, Donna Curry, John Chidsey Organizations: New, New York CNN —, Subway, North American Association of Subway, Restaurant Business, CNN Locations: New York, NAASF

UNCHARTED WATERS Airlines Race Toward a Future of Powering Their Jets With Corn Carriers want to replace jet fuel with ethanol to fight global warming. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D.

Persons: “, ”, Jeffrey Broberg, Biden, Jake Wildman, Wildman, Lauren Riley, Amelia DeLuca, Todd Becker, United’s, Seager, et, Roy Stoltenberg, It’s, “ It’s, Mr, Stoltenberg, John, Stoltenberg douses, Megan Konar, Matt Jennen, midcentury, we’ve, Chad Friese, I’m, John Hansen, Mary, sighed Organizations: Jets, Carriers, Minnesota Well, Organization, United Airlines, Delta, New York Times, Farmers, IOWA NEB, MINN, Water Resources Research, Department of Agriculture, ”, U.S . Department of Agriculture Economic Research Service, Aviation, Delta Air Lines, Ethanol Company, University of Illinois, Ethanol, ” Industry, Nebraska Farmers Union, Sunrise, Reserve Locations: America, Ohio, Washington, Minnesota, Nebraska, MINN, WIS, MICH, IOWA, IOWA NEB . OHIO, . MO, KAN . MO, KAN, In Kansas, Glenwood, Minn, ”, Japan, Germany, U.S, Chippewa, Benson, Omaha, ., KAN ., Cairo, Neb, Iowa, Wisconsin, University of Illinois Urbana, Champaign, Wood, China, Foxhome, Platte, . Nebraska

LAS VEGAS (AP) — David Benavidez retained the interim world super middleweight belt by stopping Demetrius Andrade after the sixth round Saturday night. “Now just give me the fight that everyone wants to see.”Benavidez is widely recognized as the world’s best super middleweight after Canelo Alvarez. Immediately after his win he called for a match against Alvarez to unify the super middleweight title. Charlo’s rapid-fire left-uppercut, right-hook combination stopped Benavidez in his tracks several times as the champ kept his perfect record intact. Called two seconds into the sixth round at the request of his team, Ergashev (23-1) didn’t come out of his corner.

Persons: — David Benavidez, Demetrius Andrade, Andrade’s, Andrade, “, ” Benavidez, Benavidez, Canelo Alvarez, Alvarez, Jermall Charlo, Jose Benavidez Jr, Benavidez Jr, Subriel Matias, Shohjahon Ergashev, Matias, didn’t, Lamont Roach, Hector Garcia’s, Roach, Garcia, Tim Cheatham, Robert Hoyle, Max DeLuca Organizations: LAS VEGAS, Showtime, “, WBC, IBF, Hector Garcia’s WBA Locations: KOs

☆ I visited 4 Subway locations and saw firsthand what challenges its new owners will face. I found stale bread, bad tuna, and outdated, dirty restaurants.
▼ + stars: | 2023-09-01 | by ( Nancy Luna | ) www.businessinsider.com time to read: +9 min

We visited four Subway in Southern California to figure out how Roark can fix the brand. So I visited four Subway stores near my Southern California home. It is one of hundreds of Subway stores that have been remodeled over the years. In 2021, The New York Times conducted its lab test and published a report stating that it found no tuna DNA in Subway tuna sandwiches. I ordered the tuna sandwich at a Subway in Santa Ana, California, an aging stand-alone store in a former adobe-style Taco Bell building.

Persons: Roark, Dunkin, Fred DeLuca, Jared Fogle, It's, haven't, Nancy Luna, Burger King, —, Tim Powell, Powell Organizations: Roark Capital, Buffalo Wild Wings, Service, Subway, Royce, Owners, The New York Times, Chapman University Locations: Southern California, Wall, Silicon, Jersey, North America, Miami, Orange , California, Santa Ana , California, Orange

☆ Factbox: Subway to sell itself to Roark Capital
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsAug 24 (Reuters) - Roark Capital snapped up Subway in a $9.55 billion deal, sources said on Thursday, after it outbid several private-equity groups. The pair then started franchising Subway restaurants, with the first outlet outside of Connecticut being opened in Massachusetts a year later. For 2022, Subway posted a 9.2% year-over-year increase in same-store sales, thanks to its "Subway Series" menu - a lineup of 12 new signature sandwiches. In March, Goldman Sachs' (GS.N) asset management arm, PE firms Bain Capital, TPG, TDR Capital, Advent International and Roark Capital emerged among the list of suitors for the sandwich chain. Reuters reported earlier this week, citing sources that Roark Capital was in the lead to acquire the chain for well over $9 billion after attaching conditions to some of the windfall the two families that own it would get.

Persons: Thomas White, Roark Capital, Fred DeLuca, Peter Buck, DeLuca, Buck, Arby's, Quiznos, Burger, Jared Fogle, Chidsey, John Chidsey, Morgan, Goldman Sachs, Roark, Deborah Sophia, Granth Vanaik, Varun, Anil D'Silva Organizations: REUTERS, Subway, KFC, Bain Capital, TPG, TDR, Advent International, Roark Capital, Reuters, Thomson Locations: Bridgeport , Connecticut, Connecticut, Massachusetts, Bahrain, Subway, United States, Burger, U.S, North America, Bengaluru

☆ Subway sandwich chain sells itself to Dunkin' owner Roark Capital
▼ + stars: | 2023-08-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

In this photo illustration, a Subway meal is seen on a table at a Subway restaurant on January 12, 2023 in Austin, Texas. Roark Capital is buying Subway, ending the sandwich chain's more than five decades of family ownership and marking a new era for the struggling company. Subway dwarfs all of them by number of restaurants, and brings in more annual sales than all but Dunkin'. Through holding company Inspire Brands, Roark owns Dunkin', Baskin-Robbins, Sonic, Arby's, Buffalo Wild Wings and Jimmy John's. Roark plans to keep Subway as a separate entity within its portfolio, Subway CEO John Chidsey told the Journal.

Persons: Roark, Dunkin, Robbins, Jimmy John's, Anne's, Carvel, Neil Saunders, John Chidsey, Chidsey, Fred DeLuca, Peter Buck, Jared Fogle, DeLuca, Buck Organizations: Roark Capital, Subway, TDR, Sycamore Partners, Wall Street, Inspire Brands, Baskin, Buffalo Wild Wings, Focus Brands, Journal ., Business Locations: Austin , Texas, Cinnabon, Connecticut, U.S

Reuters reported on Tuesday on a so-called earn-out agreement that was key to Roark clinching a deal for Subway. Roark prevailed over a rival bidding group led by buyout firms TDR Capital and Sycamore Partners, whose final offer was for $8.75 billion including an earn-out, and $8.25 billion without, the sources said. Roark took the view that the restaurant market is too fragmented for the deal to raise competition concerns, the sources added. Roark and Subway, which announced the deal on Thursday, declined to comment on the terms. Roark currently controls Inspire Brands, the owner of restaurant chains including Jimmy John's, Arby's, Baskin-Robbins and Buffalo Wild Wings.

Persons: Roark, DeLuca, Buck, John's, Jimmy John’s, Jimmy John's, Neil Saunders, Peter Buck, Fred DeLuca, JPMorgan Chase, Sullivan, Cromwell, Weiss, Garrison, Roark Capital, Morgan Stanley, Anirban Sen, Abigail Summerville, Deborah Sophia, Greg Roumeliotis, Marguerita Choy Organizations: Roark, Reuters, Subway, TDR Capital, Sycamore Partners, Inspire Brands, Baskin, Robbins, Buffalo Wild Wings, JPMorgan, Cromwell LLP, Thomson Locations: Connecticut, U.S, Bridgeport , Connecticut, The Milford , Connecticut, Rifkind, Wharton, New York, Bengaluru

☆ Subway is being sold to a massive private-equity firm, finally moving the sandwich chain away from family ownership after nearly 60 years
▼ + stars: | 2023-08-24 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Roark's brands include Arby's, Dunkin', Buffalo Wild Wings, and rival sub store Jimmy John's. Subway is in the midst of a huge rebrand after suffering from a sales slump. Through Inspire Brands, it also owns another sub chain — Jimmy John's — which has more than 2,600 stores. AdvertisementAdvertisementSince the first Subway store opened in 1965, the company has been owned by its two founders, Fred DeLuca and Peter Buck, and their families. The sandwich chain announced last month that it had achieved 10 consecutive quarters of positive sales, including recording its highest weekly average unit volume in North America in the second quarter of 2023.

Persons: Dunkin, Jimmy John's, John Chidsey, Fred DeLuca, Peter Buck, It's Organizations: Roark, Arby's, Buffalo Wild Wings, Service, Roark Capital, Subway, Inspire Brands Locations: Wall, Silicon, North America

These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources familiar with the matter said. The arrangement helped bridge a gap in the valuation expectations between Roark Capital and the DeLuca and Buck families that own Subway, according to the sources. The deal will make Roark Capital one of the largest restaurant operators in the world. Subway said in February it was exploring a possible sale, drawing interest from private equity firms including Roark, Advent International, TDR Capital and TPG as well as Goldman Sachs' asset management arm. Roark and Subway have 12 months to close the deal, which has a 4% breakup fee, sources said.

Persons: Roark, DeLuca, Buck, Jimmy John's, Neil Saunders, GlobalData, Goldman Sachs, Anirban Sen, Abigail Summerville, Deborah Sophia, Arun Koyyur Organizations: Roark Capital, TDR, Sycamore Partners, Brands, Baskin, Robbins, Buffalo Wild Wings, Subway, Advent, TDR Capital, TPG, Thomson Locations: U.S, North America, New York, Bengaluru

A Subway sandwich shop logo is pictured in the Manhattan borough of New York February 14, 2014. These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources said. The Wall Street Journal reported on Monday that Roark Capital was nearing a deal to buy Subway for about $9.6 billion. A spokesperson for Subway declined to comment, while representatives for Roark and TDR did not immediately respond to requests for comment. Roark controls Inspire Brands, owner of the Jimmy John's, Arby’s, Baskin-Robbins, Buffalo Wild Wings, Dunkin’, Rusty Taco and SONIC Drive-In chains.

Persons: Carlo Allegri, Roark, DeLuca, Buck, John's, TDR, Sycamore, Goldman Sachs, Fred DeLuca, Peter Buck, Jimmy John's, Dunkin ’, Rusty Taco, Jimmy John’s, Abigail Summerville, Anirban Sen, Greg Roumeliotis Organizations: REUTERS, TDR, Sycamore Partners, Goldman Sachs, Subway, Street, Roark Capital, Goldman, Inspire Brands, Baskin, Robbins, Buffalo Wild Wings, Thomson Locations: Manhattan, New York, TDR Capital, Bridgeport , Connecticut, The Milford , Connecticut, U.S, Champaign , Illinois

☆ Subway nears $9.6 bln sale to Arby's owner Roark - WSJ
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The Subway restaurant logo is seen on a napkin in this illustration photo August 30, 2017. REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsAug 21 (Reuters) - Roark Capital, which owns restaurants Arby's and Buffalo Wild Wings, is nearing a deal to buy sandwich chain Subway for about $9.6 billion, the Wall Street Journal reported on Monday. Another group led by Roark Capital was in the running, the sources had added. It has invested in Inspire Brands, which is the owner of Arby's, Baskin-Robbins, Buffalo Wild Wings and Dunkin' among others. Roark Capital did not immediately respond to a Reuters request for comment.

Persons: Thomas White, Roark Capital, Roark, Dunkin, Fred DeLuca, Peter Buck, Ananya Mariam Rajesh, Deborah Sophia, Shinjini Organizations: REUTERS, Buffalo Wild Wings, Wall Street, Reuters, TDR Capital, Sycamore Partners, Subway, Roark Capital, Inspire Brands, Baskin, Robbins, Thomson Locations: Sycamore, Bridgeport , Connecticut, North America, Bengaluru

[1/2] The Subway restaurant logo is seen on a napkin in this illustration photo August 30, 2017. Subway expects to fetch well over $9 billion in a deal, and it remains uncertain whether TDR and Sycamore can meet its price expectations, the sources said. Private equity firm Advent International, which had teamed up with Goldman Sachs Asset Management on a bid for Subway, has dropped out of the process, the sources said. Goldman Sachs (GS.N) may decide to team up with one of the other bidders, the sources added. Subway, Roark and TDR did not immediately respond to requests for comment.

Persons: Thomas White, Goldman Sachs, Roark, Jimmy John's, Jimmy John’s, TDR, Fred DeLuca, Peter Buck, Anirban Sen, Abigail Summerville, Nick Zieminski Organizations: REUTERS, TDR Capital, Sycamore Partners, Roark Capital, International, Goldman Sachs, Management, Subway, Bloomberg News, JPMorgan Chase &, Reuters, Thomson Locations: Sycamore, Champaign , Illinois, Milford , Connecticut, Bridgeport , Connecticut, The Milford , Connecticut, U.S, New York

☆ MLB roundup: Angels' 13-run inning leads 25-1 rout of Rockies
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +11 min

Moniak went 5-for-5 and finished with four extra-base hits as the Angels set a franchise record for most runs scored in a game. Eduardo Escobar, acquired from the New York Mets on Friday, had two hits and scored four times in his Angels debut. Trea Turner had an RBI single while Bryson Stott and Brandon Marsh each finished with two hits. William Contreras had an RBI single and Christian Yelich scored twice for the Brewers, who have lost three of their last five games. Starter Pablo Lopez (3-5) gave up three runs and seven hits in six innings while recording 10 strikeouts.

Persons: Mike Trout, Brandon Drury, John Leyba, Matt Thaiss, Mickey Moniak, Moniak, Eduardo Escobar, Hunter Renfroe, David Fletcher, Drury, Thaiss, Taylor Ward, Griffin Canning, Brenton Doyle, Chase Anderson, Travis d'Arnaud, Matt Olson, Ozzie Albies, Marcell Ozuna, Michael Tonkin, Raisel Iglesias, Jake Fraley, Will Benson, Iglesias, Matt McLain, Jonathan India, Ian Happ, Justin Steele, Louis the, Happ, Louis, Adam Wainwright, Dansby Swanson, Christopher Morel, Yan Gomes, Nick Madrigal, Steele, Elvis Andrus, Kenley Jansen, Zach Remillard, Yasmani Grandal, Jake Burger, Luis Robert Jr, Andrew Vaughn, Jansen, Gavin Sheets, Clint Frazier, Triston Casas, Justin Turner's, Kendall Graveman, Jarren Duran, Casas, Luis Matos, Joc Pederson, Blake Sabol, Thairo Estrada, Lourdes Gurriel Jr, Camilo Doval, Pavin Smith, Merrill Kelly, Ryan McKenna, Mike Baumann, Anthony Santander, Mike Ford's, Felix Bautista, Aaron Hicks, Crawford, Julio Rodriguez, Max Scherzer, Pete Alonso, Starling Marte, Nick Castellanos, Trea Turner, Bryson Stott, Brandon Marsh, Cristopher Sanchez, Luis Severino, Severino, Billy McKinney, Aaron Judge, Jon Gray, Gray, Marcus Semien, Jason Heyward, James Outman, Stanek, Jonny Deluca, Alex Bregman, Ronel Blanco, Danny Jansen, Vladimir Guerrero Jr, Guerrero, Jose Berrios, Seth Brown, Jon Berti, Luis Arraez, Joey Wendle, Nick Fortes, Arraez, Osvaldo Bido, Andrew McCutchen, Jordan Lyles, Lyles, Freddy Fermin, Drew Waters, Bay's, Franco, Vidal Brujan, David Fry, Fry, Jose Ramirez, Josh Naylor, Andres Gimenez, Tanner Bibee, Emmanuel Clase, William Contreras, Christian Yelich, Freddy Peralta, Reese Olson, Zach McKinstry, Olson, Alex Lange, Carlos Correa, Joey Gallo, Pablo Lopez, Jeimer, Lane Thomas, Matt Waldron's, Josiah Gray, Mason Thompson, Kyle Finnegan, Hunter Harvey, Waldron Organizations: Los Angeles Angels, Colorado Rockies, Coors Field, Angels, New York Mets, Los, Rockies, Braves, Reds, Atlanta, Cincinnati, Cubs, Cardinals, Chicago, St, . White Sox, Red Sox, Boston, Giants, Diamondbacks, National League West, Arizona, Orioles, Mariners, Baltimore, Seattle, The Mariners, Mets, Phillies, Philadelphia, Yankees, Rangers, New York, Texas, Dodgers, Astros, Houston, Blue Jays, Athletics, Toronto, Oakland, Marlins, Pirates, Miami, Pittsburgh, Royals, Rays, Kansas City, Brewers, Cleveland, Milwaukee, Guardians, Tigers, Detroit, Twins, Padres, Washington, San, Thomson Locations: Denver , Colorado, USA, Denver, Los Angeles, Atlanta, Chicago, Yasmani, Francisco, Arizona, New York, Tampa, Lyles, Minnesota, San Diego

☆ How the New ‘Little Mermaid’ Goes Back ‘Under the Sea’
▼ + stars: | 2023-05-26 | by ( Mekado Murphy | ) www.nytimes.com time to read: +2 min

So right about here, as the turtles start to move, then you see, O.K., there’s a little bit of dance starting to happen. And I took a page out of Walt Disney’s playbook, and I worked with the Alvin Ailey Company. He had worked with the Ballet Russe Company when he created ‘Fantasia.’ And I thought that was such a brilliant idea. And then we found all these sea creatures that actually lent themselves to dance naturally. These are all real sea creatures.

This is weighing on how much the private equity firms are offering to buy companies. So far, bids for Subway have ranged between $8.5 billion and $10 billion, one of the sources said. This is a more expensive route that private equity firms may not opt for, three of the sources added. To be sure, Subway is allowing bidders to use any financing route they want, as long as they can show they can secure committed financing. TPG and Bain were part of a group that owned Burger King when John Chidsey, who is now Subway's CEO, headed that burger fast-food restaurant chain.

☆ Subway reports double-digit quarterly sales growth as sandwich chain seeks buyer
▼ + stars: | 2023-04-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

In this photo illustration, a Subway sandwich is seen on a table at a Subway restaurant on January 12, 2023 in Austin, Texas. Sandwich chain Subway reported double-digit same-store sales growth in the first quarter, showing its turnaround taking hold as the company seeks to sell itself. The restaurant company is reportedly seeking a valuation of at least $10 billion, and the auction is heading into its second round, according to The Wall Street Journal. Globally, Subway's same-store sales climbed 12.1%, and its digital sales increased 11.4%. In North America, same-store sales grew 11.7%, and digital sales soared 21.2%.

☆ Democrats win control of Pennsylvania House, end GOP rule in competitive swing state
▼ + stars: | 2023-02-08 | by ( ) www.cnbc.com time to read: +4 min

Reading, PA - May 10: Pennsylvania State Rep and Democratic Leader Joanna E. McClinton speaks in front of Reading City Hall. Democrats won control of the Pennsylvania House in special elections Tuesday, wresting partial power from Republicans for the first time in a dozen years in the competitive swing state. Three of those Democratic seats quickly became vacant, casting uncertainty over who actually controlled the chamber. Democrats had been expected to win Tuesday's special elections, because they had easily won the same seats last fall. That's because Republican Rep. Lynda Schlegel Culver won a special election Jan. 31 to fill a vacant state Senate seat.

☆ Late Subway co-founder's stake donated in potential tax shield
▼ + stars: | 2023-02-01 | by ( Abigail Summerville | ) www.reuters.com time to read: +2 min

It will shield both the estate and the foundation from a big tax bill were Subway to be sold. Reuters reported in January that Subway was exploring a sale with the help of a financial adviser. A Subway spokesperson said the company does not comment on ownership structure and business plans. Buck, who was a nuclear physicist, and co-founder Fred DeLuca started Subway in 1965 after DeLuca asked Buck for advice on how to pay for his college tuition. Reporting by Abigail Summerville in New York; Editing by Anirban Sen and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Subway's late cofounder will give half the company to a charity where his 2 sons work, amid reports the chain is considering a sale
▼ + stars: | 2023-01-31 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Subway's last surviving founder, Peter Buck, died in 2021. Buck, who died last year, left his 50% stake in the chain to the Peter and Carmen Lucia Buck Foundation, according to a Tuesday announcement by the charity. Peter Buck was 34 when he partnered with a 17-year-old family friend, Fred DeLuca, to open a submarine sandwich shop. In 2020, the chain laid off hundreds of corporate staff to cut costs amid rumors of a company sale. Are you a Subway insider with insight to share?

☆ Subway is reportedly exploring a sale
▼ + stars: | 2023-01-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Subway, one of the world’s most recognizable fast food brands, might be up for a sale, according to the Wall Street Journal. The privately held company has obtained advisers to explore sale that could value Subway at more than $10 billion, the Wall Street Journal reported. In a statement provided to CNN, Subway said that it doesn’t “comment on ownership structure and business plans” because it’s private. Subway is still in the early stages of throwing up the “for sale” sign and it might not find an acceptable deal, the Journal reported. Subway attributed its recent success to its new “Subway Series” menu, which was streamlined to help speed up service, and an increase in digital orders.

☆ How Jordan Spieth’s sister inspired him to build a charity legacy
▼ + stars: | 2022-12-15 | by ( Jack Bantock | ) edition.cnn.com time to read: +6 min

CNN —In September 2013, Jordan Spieth was powering towards one of the greatest rookie seasons golf has ever seen. But at just 19 years old, Spieth was putting the wheels in motion for a long-term charitable endeavor. It was ultimately because of his younger sister Ellie, who has autism, that Spieth launched his charitable mission, supporting programs and initiatives for children with special needs. Spieth and his sister ride the buggie at the Houston Open in 2016. “Letting kids be kids, creating a safe environment that also has everything that a kid wants to do – that’s what we had there.”

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