BJ's Restaurants Inc. Message Board

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Non-Tech : BJ's Restaurants Inc.

BJRI 36.18

-0.2%

Nov 11 3:59 PM EST

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To: Wowzer who wrote (231)	9/6/1998 10:04:00 AM
From: Wowzer	Read Replies (1) of 865

I go on vacation for a week and look what you guys do to CHGO, not to mention the market. I can't leave you guys alone for even a second! (G). Our family rented a beach house last week in Newport Beach (talk about inflated RE values!) geesh some people have way too much money in this world. The house we stayed at was a two bd one bath 800 sf home, located a block from the beach. The house is currently in escrow for $575K and the neighbors think the owner under priced it! Granted it was a nice house but c-mon people get a grip. In between riding the waves and fretting about the market, my wife and I went to the Brea restaurant (Tuesday night). The building is definitely first class with lots of brick and an open warehouse feeling. When we arrived about 6pm the bar was full and tables were starting to fill up. By 8pm the place was full, which to me was quite impressive considering it was a Tuesday. We started off with the beer taster sampler which included seven different brews. All the beers tasted very good with my favorite being the Piranha Pale Ale. My wife especially enjoyed the Magnolia's Peach. The individual taster glasses were not little wimpy shot glasses either but a full 4 ounce glass, a great deal for $4.50. Since their menu was quite extensive, I decided to try something different and ordered the Baby back ribs. They were excellent and portions were large even for a half slab. My wife stuck with the pizza, a artichoke concoction that was also very good. We finished with a "Pizookie" a piping hot white chocolate macadamia cookie cooked in a small deep dish pizza pan topped with vanilla ice cream. Wow! At $1 3/8 sellers are practically giving their stock away. From what I understand successful restaurants typically sell from 4 to 5 times cash flow. Brea produces $1.2 million plus in cash flow and growing, indicating it could probably sell for least $5 to $6 million. Kinda scary considering you can now buy the entire chain for $8.8 million! If Woodland Hills or Valencia locations come anywhere close to as successful as the Brea and Boulder locations look out! Especially considering that CHGO now has its administrative infrastructure in place and any additional restaurant cash flow should flow directly to the bottom line. Hopefully some analysts will cover this stock soon. Regards, Rory

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