Bloomin Brands, Inc. (BLMN)

[big-yank]

I think BLMN is on the cutting edge of the Achilles Heel in the sit down restaurant business... the fear of DUI decline of restaurant alcohol sales. People that used to have several drinks or order a bottle of wine with their meal are now afraid to do so because a very low level of alcohol is now required in most states to justify an arrest. In Florida, they are trying to reduce it even further and friends of mine have stated they will stop going out for sit down meals and just eat at home if it passes.

BLMN in all its venues is a pioneer in "wine by the glass" offerings at Outback and Fleming's which offers a truly remarkable 100 wines by the glass. Bonefish Grill is only a fast step behind. Then I look at Applebee's, Chili's, Friday's and the Darden properties that promote Happy Hour "Two-Fers", where law permits.

Alcohol and especially wine sales were the primary profit driver for many sitdown restaurants for many years. BLMN has updated their formats for a mature and responsible response to the MADD initiative while still providing a superior culinary experience.