Jimmy John’s Owner Welcomes Roark Capital Group

jimmy-johns-ownerIn a recent transaction, Roark Capital Group now has a major ownership in Jimmy John’s Sandwiches.  Few large executive changes at Jimmy John’s will occur as a result of this deal since Jimmy John’s owner, Jimmy John Liautaud, has already stated that he will remain Chairman. Likewise, the President and CEO – James North – is continuing in his executive roles.

Liautaud is “excited” about this new venture, referring to his partnership with Weston Presidio a decade ago.  He is looking forward to bringing to Roark “the same energy and commitment to excellence that helped make our partnership with Weston Presidio so successful.”  He has also already spent the last couple of years getting to know the team there, calling them “best-in-class people that have the knowledge and expertise that will help us take this brand to the next level.”

Managing Partner of Roark Capital, Neal Aronson said of the Jimmy John’s owner: “Jimmy has built an amazing business with unlimited potential. It’s a testament to his vision, commitment to quality, and the team’s outstanding execution.”

And the numbers support this.  Over the past 10 years, not only has Jimmy John’s been one of America’s fastest-growing chains because of its sandwich delivery model and speed of service, but it is also America’s 35th largest restaurant concept, according to data from Nation’s Restaurant News Top 100.

US Flies Bombers Over South Korea in Response to North Korean Nuclear Test

 

North Korea Nuclear Test
North Korea Nuclear Test

The United States, allying itself with South Korean interests, answered North Korea’s largest nuclear test with sorties over South Korea.

Two US Air Force B-1B Lancer strategic bombers left  Andersen Air Force Base in Guam to send a not so subtle message to North Korea. The US long-range supersonic strategic bombers had company when a few Japanese F-2s joined them in a training exercise to “enhance operational capabilities and the tactical skills of units.”

The skies continued to get crowded as South Korean F-15s and US F-16s joined in for a low-level flight. The show took place not far from the South Korean city of Osan. When the bilateral flight was complete the bombers returned to Andersen.

US Pacific Commander Admiral Harry Harris said in a statement:

“These flights demonstrate the solidarity between South Korea, the United States, and Japan to defend against North Korea’s provocative and destabilizing actions. North Korea continues to blatantly violate its international obligations, threatening the region through an accelerating program of nuclear tests and unprecedented ballistic missile launches that no nation should tolerate. US joint military forces in the Indo-Asia-Pacific are always ready to defend the American homeland. We stand resolutely with South Korea and Japan to honor our unshakable alliance commitments and to safeguard security and stability.”

Leading Minority-Owned Finance Firm Changes Name

2009-12-21 publicity photo of Henry Cisneros. Own work of CityView for free license.
2009-12-21 publicity photo of Henry Cisneros. Own work of CityView for free license.

Reflecting the fact that Napoleon Brandford III retired last year, the country’s leading minority-owned municipal finance and underwriting firm, Siebert Brandford Shank & Co. LLC changed its name to Siebert Cisneros Shank & Co. LLC.

Henry Cisneros’ name was added to the company’s moniker in recognition of the fact that he has become and equity owner of the company. Cisneros is a former secretary of the US Department of Housing and Urban Development. He was also the mayor of San Antonio, Texas.

The company’s shares its headquarters between Oakland, California, and New York City. There additional offices in 17 cities throughout the country. The chairwoman of the company, Suzanne Shank, nevertheless is based out of Detroit, Michigan.

One year ago Shank was ranked as the eighth-most connected person in southeast Michigan. This past June she was recognized by Crain’s as one of the most influential women in Michigan.

The company was founded in 1996 by the late Muriel Siebert, who was also the first woman to have a seat on the New York Stock Exchange, Shank and Brandford III.

Clinton a Better Choice for Business Say Economists

Gary Johnson. Photo by ronpaulrevolt2008
Gary Johnson. Photo by ronpaulrevolt2008

A survey conducted by the National Association for Business Economics showed that Hillary Clinton is the preferred candidate for president of the US by 55 percent to an embarrassing 14 percent for Donald Trump. As a matter of fact, Trump was not the second choice. Third party Libertarian candidate Gary Johnson had more support than Trump, with 15 percent saying they would prefer to see him as president. An additional 15 percent said they did not know or had no opinion.

The survey was conducted from July 20 to August 2 and included the views of 414 members of NABE.

Some of Trump’s policies seem to be contributing to his lack of support. Whereas Trump says he would like to nullify or severely restrict the North American Free Trade Agreement, 65 percent of business economists say US trade policy should be even more open and free versus only 9 percent who agree with Trump that trade should be more protectionist.

Trump has expressed a desire to deport illegal immigrants, but the NABE survey showed that only 8 percent agreed with that sentiment, while 64 percent said they would like to see a program to legalize undocumented immigrants who already live in the US.

Business Insider Lists Mo Abudu Top 100 Bus Visionaries

Photo of Mo Abudu taken by Nkemonwudiwe at en.wikipedia
Photo of Mo Abudu taken by Nkemonwudiwe at en.wikipedia

The only African appearing on the Business Insider prestigious list of 100 of the world’s most influential business leaders, Mo Abudu, CEO and Chairwoman of EbonyLife TV, was ebullient at receiving the recognition.

“This is a big moment for the entire EbonyLife TV team. Our goal remains to tell African stories and we do that by annually producing over 1000 hours of premium, original and home grown entertainment programming content. From Talk, Entertainment, Reality, Comedy, Drama, Lifestyle and Factual the channel boasts exclusive ownership of 90% of the content…”

Abudu shared the glory with other corporate starts as Bill Gates, Mark Zuckerberg and the CEOs of IKEA, Apple, Amazon, Google, Starbucks and Alibaba, who were at the head of the list.

Placing even 56th on the list is no mean feat, as it means coming in ahead of the heads of such popular companies as Spotify, Snapchat, Zara, LinkedIn, and Uber.

A group of analysts compiled the list, assessing companies from all over the globe, in the private and public sectors, in a large variety of industries.

EbonyLife TV recently began its third year and the most popular channel in the entertainment category. It has recently moved into more cities in Nigeria, and distributes programs to49 African countries, including South Africa and other countries of Southern Africa.

Because of Abudu’s list of successes in the TV entertainment sector, especially her popular talk show “Moments with Mo,” she has earned the nickname, “Africa’s Oprah Winfrey.”

Other women appearing on the list include: Kim Jordan, founder and executive chairwoman of the New Belgium Brewing Company; Rose Marcario, CEO of Patagonia; and Ellen DeGeneres of “The Ellen DeGeneres Show” and Ellen Digital Network.