Here’s what we have for you today:
• Taking the Subway
• Dutching it out
• Hollywood mismanagement
Subway on its way to get sold
Changing hands: Roark Capital is seeking to acquire the Subway group and is willing to offer additional incentives on top of $9 billion.
Current management: The Subway group is currently run by former Burger King CEO John Chidsey, who joined Subway in 2019.
The portfolio: Roark Capital owns other chains including Jimmy John’s, Cheesecake Factory, Arby’s, Jamba and etc.
Heineken currently leaves Russia
Write-off: Heineken announced it would incur a total loss of €300 million or $325 million for the sale to the Russian based Arnest Group as of August, 2023.
The drag: In March of 2022, Heineken had said it was quitting in Russia, but mentioned that it wanted to ensure an “orderly transfer” to a new owner.
Dated brewery: The company stated that the Arnest Group has guaranteed the employment of Heineken’s 1,800 local staff for three years.
Hollywood negotiating with writers
Missing part: The Writers Guild of America has been on strike since May of 2023, halting Hollywood’s production of TV shows and movies.
The proposal: On August 11, 2023, the Alliance of Motion Picture and Television Producers publicly announced their current proposal to the Writers Guild of America with inclusion such as “a compounded 13% increase over the three-year contract, with an increase of 5% in year one; 4% in year two; and 3.5% in year three.”
Evidently: The WGA labor union said the studios’ latest offer still includes “limitations and loopholes and omissions” that fail to protect Hollywood writers.