Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks pH and I think you're right… The temporarily closed it's just a way to let us down easy I guess.
Unfortunately it's a sign of the times and there will probably be other restaurant chains on their heels. However… I believe the smaller less corporatized mom and pops may actually do better… That's opposite of what you would normally think but my opinion anyway… Hopefully WCVC Nixon restaurants will fall into the latter category and not the former. .. that is to say hard-working small business people versus sorry about your job buddy corporate types. .. of course I'm putting Nixon in the category of caring ..but I digress.
If he would just get current on the filings it seems like it would be a boon for his business but what do I know. Very little about all of this actually.. ....and what I do know is sprinkled with a good heaping helping of wishful thinking :~>
Have a good weekend everyone.
It's a detailed explanation Penny that could also be ... but a lot of time has passed without a communication or response from Nixon to his shareholders. This suggests (my idea of course) that he is not an honest person..... Disappeared from the radar but his restaurants are open and working so the damage was only done to us. Really bad behavior
Re "Sooner or later you too will say that Nixon is a dishonest person"
Don't get me wrong, at the moment, I agree that Nixon seems to be 'doing his shareholders dirty,' but I don't know all the facts. I know that Nixon's stock was raped by bad actors who abused convertible notes who were caught and jailed. However, Nixon owns some of the responsibility for agreeing to those convertible notes in the first place.
Nixon seems to have survived COVID-19, and it's obvious that he not only has an active business, but he's changing his offerings (two Illegal Burgers have become two new restaurants) to hopefully keep his company alive and profitable.
If the SEC or some other government agency decides that Nixon has crossed a legal line and charges him with a crime, then I'll agree that he's a crook.
However, what Nixon has on his side is a legal thing called "The Business Judgement Rule"
https://www.law.cornell.edu/wex/business_judgment_rule
https://www.investopedia.com/terms/b/businessjudgmentrule.asp
https://en.wikipedia.org/wiki/Business_judgment_rule
The rule requires the company/its-officers to act in good faith and with a duty of care, but there is wide latitude in interpreting what that means. The rule grants an automatic presumption in favor of the company, and those who bring a charge of violating it have a high bar of proof to show it has been violated.
This isn't a defense of Nixon, for my portfolio shows my stock's value is $0 as well as yours. But I accept that there may be things behind the scene that preclude me from making a final judgment against him as quickly as you have.
Sooner or later you too will say that Nixon is a dishonest person.... "It's just a matter of time "as many of you write here
I'm still reading news stories about the 'bottomless shrimp' promotion putting them $11M in the hole, which in turn is a factor in closures.
Maybe independent franchise-holders had more discretion on how far they had to go in (not) buying-in to that promotion.
Nixon's Illegal Pizza in Lauderhill closed that way, by saying "Temporarily Closed" but it never reopened. However I think that as a general rule, 1 or 2 restaurant operations tend to give notice to all to 'say goodbye' to their customer base (plus employees), whereas larger chains are more cut-throat, with corporate ax-men turning off the lights without notice to all but the highest management.
Of course, a money-losing operation with no chance of revitalization has to close; but the larger the company and the bigger the dollar amounts involved are, the smaller the human element -- employees and customers -- is in relative importance.
The irony here is that larger companies are more beholden to investors/shareholders, but Nixon's smaller company currently seems to allow him to show no concern for his investors.
Hey Brenda Hamilton!! -- how are those lessons to Nixon on the importance of fiduciary responsibility to shareholders going?
They have closed a few in our state but not ours.
It's strange… They have "temporarily closed" several of the red lobsters in our area… No word on whether they will be permanently closed here yet.
Nice, thanks for sharing.
WCVC
Positive reviews: https://www.restaurantji.com/co/arvada/takiza-taco-and-tequila-bar-/
WCVC - Our Ref Lobster is staying open. We are going next week. We love their food….
Thanks so much for the update
Nope. REVOKED
Are you being sarcastic? LOL
The OTC market is starting to show some small signs of life. Thank you Nixon for getting back to trading!
Re Red Lobster closings ...
I just read that RL put themselves $11M in the hole via an "Endless Shrimp" promotion to attract new customers. Who knew that in hard economic times, customers would over-indulge on such a deal?
Also, they not only hope to restructure debt (via bankruptcy), but get out of "costly and lengthy leases." Again, who could have predicted that landlords would structure leases to drive their renters out of business?
According to some on here, it's doing great! It's REVOKED , gone.
Yea because ? It's still REVOKED
Did any of you see that recent X write up on the Mickey D's Mac? showed a small piece of meat with with over sized bun etc......little wonder people are rejecting it.
WCVC
Thanks trader, yeah tough times right now.
WCVC
Thanks PH, good take.
WCVC
This still sounds like COVID-19 fallout, although there's also the demographic of the customer base. I read 'fast casual' as just the next step up from 'fast food' like McD's, BK, and the like. Prices are rising so many in their customer base are saying 'no more $10 Big Mac for me.'
We already see that Nixon switched two of his burger places to Taco and 'expensive alcoholic drinks' places. That may still hit the 'casual' side of the demographic, but not the "fast."
Like with McD's, BK, and the like, there's probably a measure of price-point expectation in TGI Fridays and Red Lobster and other chains. Nixon's restaurants are not chains (yet). Based on the Google Reviews of Tequila Taco so far, all though people mention it being a bit pricey, they seem to feel that they are getting what they are paying for. As long as people feel that way, they will keep returning.
He's also in Denver, not New York/New Jersey.
Let’s go Trader! I am with you all the way! Dont listen to Giants fans like Botts! 🤣
WCVC Fast Casual Dining Foot Traffic "Plummets"
I'll Alert you of stocks to Buy,
before the Run happens !
_____________________________________________
Fast Casual Dining Foot Traffic "Plummets"
Across New York-New Jersey As Consumer Cracks
The slide in foot traffic comes as
Red Lobster is considering a bankruptcy filing,
and
TGI Friday's is in distress,
closing stores
and working with Guggenheim Partners
to address its debt problem as sales decline.
Moody's Ratings wrote in a report last week that
rising menu prices have slowed fast-casual sales
as the working poor ditch restaurants for food at home.
https://www.zerohedge.com/markets/fast-casual-dining-foot-traffic-plummets-across-new-york-new-jersey-consumer-cracks
________________________________________________________
Shake Shack (SHAK)
beats profit expectations as
sales trends improve each month
Revenue at the burger chain
rises a little less than expected,
but
full-year growth outlook is nudged higher
https://www.marketwatch.com/story/shake-shacks-stock-rises-after-profit-beat-and-improved-outlook-offset-revenue-miss-52b5c96a?mod=mw_rss_topstories
______________________________
Hmmm wonder if Andrew Tate likes high end Mexican food? 🤣🤣🤣
Same, brother!
Never. It's REVOKED
WCVC - True dat! I’ll be here when it happens!
Someone very famous says ....... "In the long time we are all dead"
It’s only a matter of time until this comes back. $WCVC
Maybe Pizza can turn into a lot of locations, speculating
WCVC - A good Sunday to all you good people!
Just a joke. Means exactly!
WCVC - Ed Zachary!!
Exactly that...
WCVC
Lol. The only angle is it's REVOKED. So funny... let me when its not.
He definitely has an angle. He isn’t here just to do a public service to us! Things that make you gooooo hmmmmm
Agree thanks fallingstar..
WCVC
The Illegal Burger Franchise Opportunity begins with a solid business model and awesome food
This is the cornerstone of any great restaurant business. Our menu features all-natural beef, chicken and black bean burgers, plus a variety of vegetarian, vegan and gluten-free choices. We add a special seasoning blend then we hand-craft, sear and grill each burger to perfection.
Illegal Burger’s biggest differentiator is our exclusive line of CBD products. Cannabinoid, or CBD, is attributed to many health benefits. Recently, the FDA approved of its use to treat two forms of childhood epilepsy, and consumers report it positively impacting anxiety, sleep disorders, and even chronic pain
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |