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Big News Too
Starbucks Will Give U.S. Front-Line Employees and Managers Raises of At Least 5% In October
Starbucks Corp. SBUX, -0.30% said Monday it will give raises of at least 5% to all partners and store managers in U.S. company stores, starting Oct. 3, in response to what Chief Executive Howard Schultz called a "tragic week of violence" in the U.S. In a letter to employees posted on Starbucks' website, Schultz said it will double the "bean stock" award for employees who have reached two years of continuous service with the company. Coupled with the pay rise, the new bean stock program will result in total compensation for employees increasing between 5% to 15%.
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Viewpoint
Recruiting Call to Michael Bloomberg
by Bob Gershberg, CEO/Managing Partner Wray Executive Search
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Bob Gershberg
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"Good Morning Michael. Bob Gershberg, CEO at Wray Executive Search, reaching out today to tell you about a search we are conducting for a rather exciting CEO opportunity. Some would say it is the best job in the world, others might say it is the worst. But you know me Mike, I'm not going to blue sky you - it definitely has its challenges. The client is clearly looking for a change agent although they don't seem to ever execute change well. The base comp is not great but the perquisite package is quite substantive. They even give you a 55,000 square foot home to live in- full relo but not sure they'll cover closing costs on any of your 14 homes. Then again, I heard you have homes in the Hamptons, London, Colorado, Bermuda and Florida. Guess you'll be keeping those."
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Quotes
As a restaurateur, my job is to basically control the chaos and the drama. There's always going to be chaos in the restaurant business.
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Rocco DiSpirito
If anything is good for pounding humility into you permanently, it's the restaurant business.
- Anthony Bourdain
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Financials
by John A. Gordon, principal and founder of Pacific Management Consulting Group
Many of us recall two years ago when the pitched battle for control of Darden (DRI) was underway. Darden picked up activist investors in 2013 with weak results reported for some time beforehand. While the battle was underway, in May 2014, Darden shocked some by selling Red Lobster despite fierce protests from the hostile suitors, Starboard and Barrington Capital and some other investors at the time. The suitors hoped to monetize the Red Lobster real estate, which is exactly what Red Lobster did anyway, upon its sale to Golden Gate Capital Group. Full Article » |
Financial Edge
Getting ahead of Millennials: Generation Z
by David Ulrich, EVP Wray Executive Search
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David Ulrich |
There's been a lot of articles and information written specifically about the Millennial generation because of its vast size as a consumer population, but also to better understand this generations habits, tastes, and behaviors. There probably hasn't been a generation that has been so focused upon since their arrivals as kids back in the mid to late 80's.
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Big Changes Ahead for LinkedIn
by Rebecca Patt, SVP Development, Wray Executive Search
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Rebecca Patt
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Few things have been as big a game-changer in the recruiting and business development world as LinkedIn, the professional networking site that has grown to 433 million members since its debut in 2003. I myself have been a member since 2006 and have made over 7000 connections. The site has gotten me a lot of exposure for my work and helped me to create valuable connections with clients and candidates. I am proud to be among the top 1% most connected members on LinkedIn! With the recent headline that Microsoft acquired LinkedIn for $26.2b, one of the biggest acquisitions in tech history, what kind of changes may be ahead in the linking of LinkedIn and Microsoft?
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The Big Apple
Restaurants and Real Estate
by Joe Radice, Vice President, Wray Executive Search
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Joe Radice |
Real estate has always been a significant, if not the determining factor, in opening any restaurant. We have always heard that the three most important considerations for success in opening a new restaurant are "location, location, location". Total occupancy costs should not exceed 10% of total revenues according to the experts - a difficult goal to attain particularly in today's Manhattan of escalating rents. Manhattan real estate prices have certainly never been so outrageous. Yet restaurants continue to open at a fast pace as both operators and landlords alter their strategies and vary their tactics.
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