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Old 08-24-2023, 06:28 PM
 
1,888 posts, read 1,184,903 times
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Quote:
Originally Posted by CT_Yank View Post
Done deal. Honestly, I don't see it. The PE firm is in Atlanta. My guess is that it goes South. I think it is only 700 people or so. This has been in works. Layoff 300 a few years go then open Miami office then discuss getting out of Milford location...just seems like it is over.
Think less than 200 now. Have a friendly lease with Scinto in Shelton. Probably a year or so there till performance metrics satisfied etc…
Then move to Miami or Atlanta.

 
Old 08-25-2023, 07:04 AM
 
34,053 posts, read 17,064,521 times
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Quote:
Originally Posted by CT_Yank View Post
Done deal. Honestly, I don't see it. The PE firm is in Atlanta. My guess is that it goes South. I think it is only 700 people or so. This has been in works. Layoff 300 a few years go then open Miami office then discuss getting out of Milford location...just seems like it is over.
As in common in PE deals, the $9.6B price is likely a bit flexible based on the cash generated the next 2 years once the deal is finalized. Adjusted EBITDA is usually the line that matters, and, of course, the multiple paid by Roark.

There was a duo of PEs competing, who argued Roark would be denied on antitrust due to owning Jimmy Johns already. My hunch is that will not occur.
 
Old 08-25-2023, 07:27 AM
 
34,053 posts, read 17,064,521 times
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Quote:
Originally Posted by Stepfordct View Post
Think less than 200 now. Have a friendly lease with Scinto in Shelton. Probably a year or so there till performance metrics satisfied etc…
Then move to Miami or Atlanta.
PE is big on keeping hq headcounts far lighter than corps held privately or publicly traded. Given how many restaurant chains they (Roark) own or run, I would expect such functions to be done via a shared services model (across many entities) when possible. I hope most at hq bailed by now, for other opportunities. PE seemed the likely buyer early on, as of restaurant groups, due to Subways size, only PE or YUM IMO could handle them, and YUM never seemed to show interest.

Last edited by BobNJ1960; 08-25-2023 at 07:35 AM..
 
Old 08-25-2023, 08:37 AM
 
2,362 posts, read 2,186,024 times
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Not sure if this was posted yet but big news:

https://www.reuters.com/business/aer...ct-2023-08-24/

$2.7billion for Navy, USMC, and IAF contracts. Will certainly help with other international bids.
 
Old 08-25-2023, 09:35 AM
 
1,888 posts, read 1,184,903 times
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Quote:
Originally Posted by BobNJ1960 View Post
PE is big on keeping hq headcounts far lighter than corps held privately or publicly traded. Given how many restaurant chains they (Roark) own or run, I would expect such functions to be done via a shared services model (across many entities) when possible. I hope most at hq bailed by now, for other opportunities. PE seemed the likely buyer early on, as of restaurant groups, due to Subways size, only PE or YUM IMO could handle them, and YUM never seemed to show interest.
True. Subway has been running very lean the last few years. Layoffs occurred when they decided to become leaner to become more attractive to a buyer. They also stopped renewing Development Agent contracts across the globe. Though mostly these existed in North America. These contracts were quite lucrative for the agents giving them a third of the royalties, and half the franchise fees, in exchange for maintaining the given market. As growth had come to a halt for the most due to saturation, the agents were not as valuable to the company. Those savings were quite large…
 
Old 08-25-2023, 09:36 AM
 
1,888 posts, read 1,184,903 times
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Quote:
Originally Posted by Beeker2211 View Post
Not sure if this was posted yet but big news:

https://www.reuters.com/business/aer...ct-2023-08-24/

$2.7billion for Navy, USMC, and IAF contracts. Will certainly help with other international bids.
So the sky is not falling at Sikorsky. As mentioned before its a boom and bust business. They don’t live or die on one contract
 
Old 08-25-2023, 10:28 AM
 
34,053 posts, read 17,064,521 times
Reputation: 17212
Quote:
Originally Posted by Beeker2211 View Post
Not sure if this was posted yet but big news:

https://www.reuters.com/business/aer...ct-2023-08-24/

$2.7billion for Navy, USMC, and IAF contracts. Will certainly help with other international bids.
That is good news.
 
Old 08-25-2023, 11:12 AM
 
Location: Coastal Connecticut
21,752 posts, read 28,086,032 times
Reputation: 6710
Quote:
Originally Posted by Stepfordct View Post
True. Subway has been running very lean the last few years. Layoffs occurred when they decided to become leaner to become more attractive to a buyer. They also stopped renewing Development Agent contracts across the globe. Though mostly these existed in North America. These contracts were quite lucrative for the agents giving them a third of the royalties, and half the franchise fees, in exchange for maintaining the given market. As growth had come to a halt for the most due to saturation, the agents were not as valuable to the company. Those savings were quite large…
Subway is a terrible brand. Maybe once they’re acquired they’ll make real changes.
 
Old 08-25-2023, 02:50 PM
 
Location: USA
6,904 posts, read 3,742,467 times
Reputation: 3499
Quote:
Originally Posted by Stepfordct View Post
So the sky is not falling at Sikorsky. As mentioned before its a boom and bust business. They don’t live or die on one contract
Those CH-53Ks are big birds. 35 of them should keep them busy for a while
 
Old 08-25-2023, 08:51 PM
 
386 posts, read 159,406 times
Reputation: 509
Quote:
Originally Posted by Stylo View Post
Subway is a terrible brand. Maybe once they’re acquired they’ll make real changes.
Subway for the most part is terrible. It’s consistent and accessible everywhere, that’s where the positives end. It used to be inexpensive as well, that is no longer the case.

For what it’s worth though, their food has significantly improved. I’ve had it twice very recently because it was the only “healthy” option at rest stops at was pleasantly surprised. I guess all that super heavy advertising with all the pro athletes was based on some actual changes to the menu/recipes/ingredient quality. Supposedly they also now slice the meat daily instead of having it shipped pre-sliced.
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