I give Joey all the credit in the world for coming up with the concept.
It really is a great idea.
And I'm not going to fault his ability based solely on where he went to college -- my point was that he makes himself out to be this savvy Wall Street executive, but the reality is that Wall Street doesn't hire from the ranks of Santa Monica CC. So I have to question the degree of his "investment background." Those careers are relatively easy to embellish. If I'm wrong, I'll gladly admit it, but I was never impressed with his pre-Giggles resume. Kaufman and Gay, on the other hand...they're legit power players in the industry.
Also, Joey's education alone doesn't preclude his ability to run a business -- but, he's been at the helm long enough to judge his business acumen. And for a business that seems on the surface to be a cash cow, there is absolutely no reason that he should be having to go out of pocket to lend the company money to stay afloat.
In time I'm sure we'll get lots of new locations. But for the near term share price, the fluff PRs aren't going to be enough to secure institutional investors. Hopefully the Century City mall won't be too expensive to sign a new lease when it reopens -- my office was a block away and it's a stellar location among LA real estate.
