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Non-Tech : Foodmaker (Jack-in-the-Box Restaurants) -- Ignore unavailable to you. Want to Upgrade?

To: David Kuspa who wrote (303)	2/27/1998 12:21:00 AM
From: Arnie Doolittle	Read Replies (1) \| Respond to of 338

David, here's an excerpt from a news report after today's close: "Foodmaker has settled about 90 personal injury law suits against the company from the 1993 incident and one remains, which should be less than $10,000, said Foodmaker spokeswoman Shirley Gines. Much of the $58.5 million that will be collected from the beef suppliers will be used by Foodmaker to pare down debt, she said." Sounds like much of the expense of the suit was paid in prior years. Thus, while only $30 million net income results from the settlement, the entire $58.5 million will increase FM's coffers. That would reduce interest expense, and thus increase net income about 9 cents a share. Now we're cookin'. Finally, after five long years, the sad tainted beef chapter in FM's history is closed. Arnie