The Baja Fresh Saga: Muy Malo!
What do you think a chain of restaurants (pretty good one too) that was purchased in 2002 for $275 million would be worth today?
It turns out if you throw in some mismanagement and a little bad luck the amount is just $31 million.
Yes, Ohio-based Wendy’s International figured out how to return about 10 cents on the dollar on their Baja Fresh investment.
That’s a financial version of a face plant.
And to think some people thought it was only the tech crowd that was drunk on valuations at the millennium.
tags:baja fresh
Similar Independent Sources posts:
- I’ll Give You Hundreds of Millions Of Dollars If You Give Me The Governorship: We've written before about L.A.-based Yucaipa Companies, the investment group run by Democratic mega-contributor Ron Burkle. Some Yucaipa funds appear ...
- In Zimbabwe almost everyone is a billionaire, too bad that’s against the law*: In Zimbabwe, a single copy of the Los Angeles Times would cost $250,000! With a black market exchange rate of 555,000 to one for Zimbabwean dollars to ...
- Patrick Kennedy: In a word, “absurd”: Yo! There's a Kennedy in da House! From the NY Daily News: Fresh from rehab, Rep. Patrick Kennedy said yesterday he wants to be treated like an Africa ...
- Extreme Makeover Needs a Do-Over in Hawaiian Boo Boo: Funny but somewhat pitiful story from Patterico about a group of volunteers and other donors who unknowingly built a $1 million estate for a couple wh ...
- LA Times Misses the Mark on Crashed Ferrari Story: By now you've heard the story about the red Ferrari Enzo (one of only 400 ever made) demolished on Pacific Coast Highway after crashing into a telepho ...
