I saw a paper stuck on a pole while walking down the street. It said:
“I lost 20 euros. If found, please return it to me. I’m really struggling right now and can’t even afford food”. S.T., lives in building 34, apartment 12.
Feeling for the person’s situation, I decided to help. I pretended I found the money and went to the address written on the notice. An elderly woman, looking unwell, answered the door. I explained that I found the lost money and handed her 20 euros.
Leaving the money with her, I headed for the elevator. But she called me back and said: “Please take down that notice from the pole. I don’t know who put it there. Your kindness has given me hope and a positive outlook on life”. Let’s spread hope and kindness!
Subway makes Big Announcement about its future, after 58 years they are…
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.
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