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Non-Tech : EINSTEIN/NOAH BAGEL (ENBX)
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To: Rich Genik who wrote (145)9/15/1999 10:34:00 AM
From: John Lacelle  Read Replies (1) of 148
 
Rich,

As I recall, the Boston Chicken sold like 17 million
shares as a block to somebody. There wasn't a whole
lot of excitement over the offer. This is one of those
situations that begs for the right kind of CEO. You
get someone at the top of ENBX that is willing to clean
the house, motivate people, work with lenders and vendors
and such and you could turn this company around and make
some money. There was a time when Ray Krock (the founder
of McDonalds) was in over his head, lawyers banging on
the door, the company finances were in the trash. He was
the kind of guy that didn't give up and turned McDonalds
around. Look at the operation now. I'm not suggesting
that ENBX has anything near that potential. However, it
does seem that the job of saving the company is all on
the shoulders of the CEO. Unfortunately these days Wall
Street seems to reward executives with running companies
into the ground. Look at how Universal Pictures paid some
clown 500 million dollars just to get rid of him after
he took the company to near bankruptcy. Same thing with
Disney. They hired Ovitz and he walked away with hundreds
of millions after nearly trashing the company.

Anyone looking to invest in this outfit should take a long
hard look at the top management and figure for themselves
if they are going to return this outfit to profitability
or just run it into the ground.

-John
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