Saw an article I believe in the Wall Street about what they say is the real motivation behind Starboard wanting control, Real Estate. Apparently, OG owns most of their buildings and property. (If I remember correctly, more than all the other chains. This provides financial security during the lean years as they are not having to pay outrageously high rent. They will split the company into two with one owning the real estate and the other owning the restaurant. They can then sell off the Real Estate realizing huge profits leaving the restaurant side having to rent their space.
Bookmarks