Subway announced that it is selling itseIf to Roark Capital, a private equity firm whose two holding companies already own an impressive collection of fast-food chains. Roark-owned brands include Dunkin’, Carvel, Jimmy John’s, Arby’s, Cinnabon, and Buffalo Wild Wings–and that’s just a partiaI list.
Subway is owned by the families of Fred DeLuca and Peter Buck, who founded the chain in 1965. At the time, Buck was 34. DeLuca was 17 and trying to raise money for college. Buck Ient him $1,000 and suggested they start a sandwich shop.
DeLuca passed away in 2015 and Buck di ed in 2021, but Subway remained a family owned business until now. It must have been a wrenching decision to give up ownership of the chain. But however they may feel about it, the families seem to have negotiated the best possibIe deal for the chain. Every business owner looking to sell can learn from their approach.
Our story begins back in February, when the families hired JPMorgan Chase as an adviser to explore a sale. At the time, the families reportedIy wanted $10 billion for one of the world’s two largest fast-food chains.
But it’s been a bad year for acquisitions so far, and some observers noted that the chain has been losing ground to newer rivaIs such as Firehouse Subs in recent years. With its shares of U.S. sandwich sales down from 34 percent in 2017 to 23 percent today, some questioned whether Subway was really worth $10 billion.
Playground craze leaves 11-year-old boy “looking like an alien” – mom issues warning for parents
no to something that sounds dangerous.
Unfortunately, children are susceptive to peer pressure and the like; even the most intelligent of youngsters can be coerced andfmconvinced to partake in stunts that promise dire consequences.
Just ask the parents of 11-year-old Tyler Broome, who suffered horrific injuries after trying a YouTube craze known as ‘the roundabout of death’.
Yes, the name alone pretty much tells you the salient facts of the matter, but for Tyler it wasn’t so much an incredibly dangerous stunt as a way to show his friends how fearless he was.
The 11-year-old thereafter sustained injuries consistent with those seen in fighter pilots, after bein subjected to extreme gravitational force (G-force).
The craze he participated in – known as the ’roundabout of death’ – sees participants sitting in the middle of a playground roundabout whilst it’s spun at high speed using the rear wheel of a motorcycle.
Shortly after the ordeal, Tyler was found unconscious near the roundabout, left with possible damage to his brain and vision.
Extreme force
It’s believed he was subjected to the sort of G-force usually only encountered by pilots and astronauts.
It’s reported that Tyler was at a local park with a friend when they were approached by a group of older teenagers who dared them into the game.
Terrifying ordeal
“I don’t recognise my child – he is on the verge of having a stroke. Tyler sat on the roundabout, and the boy who came over was about 17. Tyler doesn’t know him, they are not friends,” his mom Dawn said, per British newspaper The Independent.
“He puts his motorbike on the floor, gets the roundabout spinning at such a speed. When they all stopped, the group just cleared off – it is bullying.”
Dawn claimed that hospital staff had never seen such injuries and had to do research before they were able to begin treating her son.
“The injuries were so extreme, he just looked like the Elephant Man. They have never seen it before, they are going to make a medical report from it.
“His head has completely swelled up, his blood vessels have burst, his eyes look alien. His vision is blurry. You can manage a broken arm but this? He doesn’t remember it, he doesn’t remember the detail.”
Parents, please always bear in mind that children are susceptible to trying things we adults would stay well clear of.
Our thoughts and prayers go out to young Tyler and his family. Share this story to spread the warning over an incredibly dangerous game.
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