Monday, January 27, 2014

Red Lobster Spin Off

I wrote another letter to the Orlando Sentinel and, again, they published  it.  At least I know these words are getting a large audience as compared to this blog which is still such an elusive fulfillment !  The Orlando Sentinel has a circulation of several hundred thousand and I also noticed the Chicago Tribune picked up my comments on the electronic version of that esteemed paper.  That does my ego some good !  This letter was not directly related to politics but it does skirt around it as a subtle criticism of naked greed that has become so commonplace in all of our society.  I also posted this in my other blog  "Journal of an American Malcontent".  
Anyway, here is the letter for anyone interested, and I expect to post something less oblique and more directly political very soon.   Let's face it, the politics has been kind of boring lately.  ( Here is a link to "Journal of an American Malcontent" in which I make some other "wry"  observations and better explain the issue regarding Red Lobster, its parent company "Darden" and their sudden obligation to satisfy an investment group that gobbled up a chunk of their shares
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I hope you all enjoy my brief take on the decline of the American corporation.

"Taking Stock of Darden"

Regarding the investment groups encouraging the spinning off of Red Lobster and Olive Garden for Darden.  I have no doubt that the stock price of Darden will go up due to these strategies for the company (whichever maneuver they choose), but I wonder then what will be the purpose of Darden itself?  Do they exist to simply make money and become more "valuable" on the NYSE?  Many American corporations have declined to the point of operating at the direction of finance wizards with their "leverages", "buyouts", "spinoffs" and they have forgotten why it is they're in business.   If I may be so bold as to suggest to Darden;  pay attention to what you're serving the public and how you treat your employees and ignore the yammering of financiers.  Ultimately the value of your stock will go up even more because you're offer something the public wants.  Isn't that what it's all about ?      

Charles E. Marshall

In My Humble Opinion.

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