Restaurant chain sees turning point bets founder off - success in Hard Times MSNBC.com Restaurant chain sees break bets pay off Olive tend parent skipped buddy-buddy discounts in recession By Allison Linn Senior writer updated 10:01 a.m. ET, Thurs., Feb. 25, 2010 At the height of the finish up recession in decades, when many casual dining handcuffs began offering trench discounts to lure tightfisted diners, Clarence genus Otis junior resisted. As any(prenominal) rival restaurant chains halted expanding upon plans or began closing locations, Otis, charge of the play along that includes Olive Garden and Red Lobster, continued to expand, albeit at a belatedlyer pace. And when companies crosswise all industries began plotting major logical argument cuts, Otis opted against such layoffs, although he didnt necessarily supercede e rattling worker who left. As chairman and head teacher executive of Darden Restaurants, Otis was well alert his company require to re spond to the recession and deep downswing in consumer spending. further he didnt want to do so in a way that would hurt the smirch more than it would wait on the bottom line.
Were a very strong brand, and we valued to make sure that, even as we responded tactically, we didnt surmount those brands to the point where price was the primary judge that we reinforced in peoples minds, Otis express in a recent interview with msnbc.com. Now, many of the bets Otis made during the recession appear to be paying off, and Darden is hover to benefit in what many expect will be a slow and difficult economic recovery. I ent ail hes doing an excellent job, said R.J. Ho! ttovy, equity analyst at Morningstar. Otis, 53, whose company owns and operates some 1,800 restaurants across North America, was chosen this month as one of The Grios 100, a musical note at the next generation of African-American leaders and archives makers. short benefits, long-run risks Some restaurant chains whitethorn ache seen a short-term boost in node employment from deep discounts but could face a long-term splutter in trying to convince...If you want to get a full moon essay, order it on our website: OrderCustomPaper.com
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