In This Section:
Rankin-Delux Acquired
Collapsible Chafer Honored At Editors' Choice Awards
Wendy's Improves Results, Puts Off Sale
Bottled Water Backlash May Bend Buying Habits
This issue's Economic Report Sponsor: Manitowoc Foodservice Group
Regulatory ReportSponsor: Enodis
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Rankin-Delux Acquired
Broiler and griddle manufacturer Rankin-Delux, Whittier, Calif., has been acquired by two industry professionals, Ed Stephenson, former Rankin-Delux general manager, and L. Vasan, owner of Royal Range, Mira Loma, Calif.
"It's great that we were able to keep Rankin-Delux in the 'family,'" said Peggy Jones, the company's former owner and CEO. "Ed has been with us for over 16 years, and Vasan has been a long-time friend and new-product consultant to the company."
Rankin-Delux Equipment Co. was founded in 1966 by Bill Rankin. The company was acquired in '92 by co-owners Richard and Peggy Jones. Richard passed away in 2005, at which time Peggy became CEO.
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Collapsible Chafer Honored At Editors' Choice Awards
Hats off and handshakes all around: Eastern Silver Tabletop Manufacturing, Brooklyn, N.Y., took home the restaurant category prize for its collapsible chafer at the Int'l. Hotel/Motel & Restaurant Show's Editors' Choice Awards, held earlier this month in conjunction with the show at the Javits Convention Center in New York.
The innovative chafers stack and collapse, four to six of them in a stack-and-store bin.
In all, winning products in nine other categories were also honored.
Technology: eMenuBoard, by eMenuBoard Systems, won as an innovative touchscreen men placed in from of a restaurant.
Green Restaurant: Fold-Pak, of Scottsdale, Ariz., won for its BioPlus Earth, a paperboard takeout container that is made of 100% recycled paper and is grease- and leak-resistant.
Green Essentials: Zurn Plumbing took the prize for its EcoVantage Pint Urinal System, an ultra low-flow unit.
Among more lodging-oriented winners: Décor: Eurotrend Furniture's Ring chair; Essentials: Protect-A-Bed's AllerZip mattress encasement; Luxury: Rubbermaid's Deluxe Compact Housekeeping Cart; Green Décor: Milliken's Lucerne Modular Carpet; Green Technology: Inncom Int'l.'s e4 Smart Digital Thermostat; Green Luxury: Neoteric Home Design's Bora Bora Bed.
Inncom Int'l.'s e4 Smart Digital Thermostat, a device that lets lodging guests opt into the hotel's conservation program and energy-saving mode with the touch of a button, also won the Kenneth F. Hine Best of Show Award.
For more information on the winners, go to http://www.ihmrs.com/content/releases.htm.
Wendy's Improves Results, Puts Off Sale
Nearly a year into turnaround mode, Wendy's Int'l. announced positive third-quarter results, including income from continuing operations of $28.8 million, or $0.33 per share, compared to $23.7 million and $0.20 per share in the third quarter of 2006.
The chain said a renewed focus on its core business, plus innovative new products and marketing efforts like the rollout of new breakfast menu items, the "red wig" ads and marketing program, a new cheddar jalapeno burger and free music download promotion all have contributed to recent financial success.
The company said it expects fourth-quarter results to be positive as well, and separately announced that it's now in phase two of its turnaround. While continuing to re-stage the brand, the company said it plans to focus on 10 "imperatives" to keep improving.
Wendy's, which began exploring the possibility of a sale in June, now may have to delay the auction to potential bidders. Banks underwriting financing of a potential sale said they have a clause to back out of the deal if the recent credit crisis causes their access to credit to deteriorate.
Bottled Water Backlash May Bend Buying Habits
Bottled water has gotten its share of bad PR recently, and the press coverage is leading cities as well as individuals to rethink purchasing patterns. At issue is the environmental cost of bottling and shipping something that most Americans can get from their taps.
Alice Waters' iconic restaurant Chez Panisse announced last spring it would no longer serve bottled water. Dozens of restaurant have followed suit. Now major cities like Boston, Los Angeles, Salt Lake City and San Francisco are saying they'll no longer purchase bottled water for any of their municipal departments.
Other cities are taking their own PR approach by promoting their local tap water. Louisville, Ky., has adopted a mascot, "Tapper," to educate kids about where tap water comes from and push residents to drink it. New York developed an ad campaign touting its pristine tap water from the Catskills.
The concern, however, is that municipalities may go further in banning the bottle. Chicago Mayor Richard Daley endorsed a city council proposal for a 10-cent tax on bottled water to cover revenue declines from city water and costs of litter and recycling. The U.S. Conference of Mayors in June called for a study on the impact of plastic water bottles on city waste streams. And California requires bottlers to specify the source of their water on the label starting in January. The issue will likely generate more legislation. Stay tuned.
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