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She also said that she was inside her home when she saw fire at Collymore’s house after which it spread to Fortune’s and then to hers. Relatives of Collymore, Soares and Fortune were seen comforting them while others reminded them that they still had their lives and their losses were material things.
In this stock matchup, we're pairing a food industry giant against the parent company of three restaurant chains you might have heard of -- Burger King, Tim Hortons, and Popeyes Louisiana Kitchen. Kraft Heinz (NASDAQ: KHC) and Restaurant Brands International (NYSE: QSR) (RBI) have one thing in common: two long-term-focused shareholders in 3G Capital and Warren Buffett's Berkshire Hathaway.
The folks at 3G Capital have installed their own managers at both Kraft Heinz and RBI, and they have big plans to conquer both companies' respective industries. We'll review the basic investment case for each to determine which is the better buy.
Kraft Heinz's competitive moat is derived from household name brands such as Velveeta, Kool-Aid, Jell-O, Oscar Mayer, and Maxwell House. The Kraft side of the company has fully saturated North America, with 98% household penetration, so management has been focused on investing for international growth. The Heinz side is famous for its ketchup brand, but also owns numerous international brands that make up about 60% of Heinz's annual sales.
Since Kraft Heinz was formed in 2015, there has been some good and some bad. As for the good, 3G Capital's skills of managing costs have delivered robust growth on the bottom line since the merger. The company grew adjusted earnings per share 52% in 2016, and so far in 2017 adjusted earnings are up 10% year to date.
As for the bad, the food industry is experiencing a rough patch as consumer preferences shift away from heavily processed foods. This caused Kraft Heinz's organic net sales to grow only 0.3% in 2016. There has also been some competition from private labels as grocers try to offer customers better value.
Despite the headwinds, about 50% of the business has maintained or grown market share recently, and management believes its emphasis on innovation and better marketing will allow the business to grow over the long term. Also, this management team is very focused on good capital allocation, so you can expect them to direct more investment toward those brands with the best returns over time. Additionally, management's long-term growth plan includes growing digital channels, where sales are up 70% year to date, and filling out its product offering in categories where it hasn't had much of a presence.
Acquisitions have played a significant role in the growth story for RBI, and you can bet that will continue. Restaurant Brands was formed a few years ago when Burger King merged with Canadian restaurant chain Tim Hortons.
Earlier this year, RBI added a third strong brand to its restaurant portfolio with the acquisition of Popeyes Louisiana Kitchen, a smaller chain with a lot of growth potential in both the U.S. and international markets. 3G Capital accelerated Burger King's store openings after acquiring the restaurant chain in 2010 as part of its plan to help the business achieve its long-term growth potential around the world. They plan to do the same with Popeyes.
Since 3G Capital has been operating Burger King for seven years, the chain is a well-oiled machine at this point. Burger King's same-store sales growth accelerated to over 3% in both Q2 and Q3 after some softness in the first quarter this year. RBI just signed an agreement with Bridgepoint Advisors to expand Burger King's footprint in the U.K., which is one of the world's largest quick-service restaurant markets. Management sees growth potential for Burger King worldwide with both existing and new franchise partners over the long term.
RBI grew adjusted earnings per share 45% in 2016, reflecting the same cost management skills that have been working so well at Kraft Heinz. The top line didn't grow as fast, with systemwide sales growing only 5.2% for Tim Hortons and 7.8% for Burger King, but single-digit growth is all that is needed since much of the long-term return to shareholders will come from increasing margins and possibly another acquisition down the road.
Since both companies have strong brands in their respective industries, and since both are run by the same business strategy of 3G Capital, the better buy, from my perspective, boils down to which one offers the best growth potential measured against the stock's valuation.
Kraft Heinz currently trades for a trailing price-to-earnings ratio of 22.4. Kraft is expected to grow earnings per share about 11% in 2018, with analysts currently expecting low-single-digit growth over the next five years, possibly reflecting those industry headwinds I touched on earlier.
RBI trades for a much richer trailing P/E of 35, but is expected to grow earnings about 19% per year over the next five years. Analysts are currently expecting RBI to grow earnings 40% next year over 2017, which brings the forward P/E ratio down to 23.5.
RBI has a lot of potential to grow Burger King around the world, and management just got their hands on Popeyes, which is mainly a regional chain at present. The market opportunity these restaurants have is consistent with analysts' optimistic expectations for the company's high-double-digit growth over the next five years.
Since RBI has greater growth potential and its forward P/E is not that much higher than Kraft's, I pick RBI as the better buy.
John Ballard has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.
(Reuters) - The chief executive of Flipkart Group, Walmart Inc’s (WMT.N) Indian e-commerce business, resigned following an internal probe into accusations of “serious personal misconduct,” Walmart said Tuesday.
The misconduct accusations followed an allegation of sexual assault, two people familiar with the matter said.
The departure of Binny Bansal, 37, one of the co-founders of Bangalore-based Flipkart, could be a setback for Walmart’s efforts to compete with Amazon.com Inc (AMZN.O) in India’s huge consumer market. A tech-savvy billionaire, Bansal took over as CEO of Flipkart in 2016. He became the chairman and group CEO of the e-commerce company this year.
Walmart paid $16 billion for a roughly 77-percent stake in Flipkart in May. The investment is the U.S. retailer’s biggest acquisition and was a major move in its efforts to compete against Amazon’s growing market share at home and abroad.
Bansal did not give details of the nature of the claim. “The allegations left me stunned and I strongly deny them,” he wrote.
“The investigation, however, did bring to light lapses in judgment, particularly a lack of transparency, related to how I responded to the situation,” he said, without elaborating further.
Neither Bansal nor his representatives responded to requests for comment. Flipkart did not respond to requests for comment.
A person in the United States familiar with the Walmart investigation said “a claim of sexual assault against Binny” came to its attention in late July. The accusation dated to a few years earlier and was made by a former Flipkart associate, who was not with Flipkart at the time, the person added.
Walmart said in a filing that it conducted its own investigation into the allegations, without saying what the accusations were.
The person familiar with the matter at Walmart said that Bansal had hired two private security firms at the end of 2016, “to make this matter go away,” referring to the alleged assault claim. The person did not disclose the names of the security firm or the parties involved and Reuters was unable to confirm them.
“Binny had an opportunity to disclose these allegations to us when we were in talks (to invest in Flipkart)..but he did not,” the person said.
Hailing from the northern Indian city of Chandigarh, Bansal is one of India’s best known entrepreneurs after starting Flipkart in 2007 with Sachin Bansal. The duo, who hail from the same city but who are not related, formed Flipkart shortly after quitting Amazon.
Originally an online bookstore run out of a two-bedroom apartment in India’s technology hub of Bengaluru, Flipkart grew over the next decade to become India’s most valuable technology start-up. Its units include Flipkart, which sells general merchandise, the clothing and accessories retailer Myntra, the fashion portal Jabong and PhonePe payments app. Walmart has said it may make an initial public offering of Flipkart publicly within the next four years.
A separate source directly briefed on the matter in India, who did not wish to be named, said Bansal is still a shareholder in Flipkart and has not expressed any desire to sell his stake. Walmart has not offered to buy him out, the source added.
Ananth Narayanan, who is the CEO of Myntra and Jabong, will continue in those roles and will now report to Krishnamurthy.
The social media #MeToo movement against sexual harassment that began in the United States over a year ago has gained traction in India in recent weeks.
Walmart’s shares traded down 1.15 percent at $102.68 per share in afternoon trade.
If the English cannot live in accordance with moral values, are they free?
If you want to see how darkened the human intellect can become through sin, look no further than the remarks of Dame Louise Casey in the United Kingdom. Casey holds a dubious position which apparently puts her in charge of “community integration”, perhaps the better to ensure that nothing is permitted to follow its natural course.
Dame Louise concludes that people should be able to “live the lives that they want to live, but that they cannot condemn others for living differently.” Catholics, however, must not be permitted to “live the lives that they want to live”, for they are not to be allowed to raise and educate their children in accordance with their own values. In other words, Catholics are to have just the liberty they need to live in accordance with the values of Dame Louise Casey—and not one whit more.
As is usual in such cases, Dame Louise latches on to the tortured term “homophobia”, as if the position that homosexual activity is immoral arises from fear. This inability to make appropriate distinctions already reveals the darkening of the intellect, as does the assumption that freedom is not diminished by the State’s forcible imposition of Dame Louise’s values on others. In this case, she even imparts a delightful upper class English tone to the discussion: “This is not quite the thing,” she seems to say. “It just isn’t done!” I believe that is a fair representation of the rational level of her remarks.
Of course Dame Louise also confuses moral judgment with personal condemnation. The two are not the same, even if they may at times be closely related. One may regard someone’s behavior as immoral without condemning such a person wholesale and across the board. By Dame Louise’s logic, we ought not to be allowed to teach our children that stealing is wrong, or to discourage the behavior patterns of those who plunder others, or to attempt to rehabilitate those who have fallen into such a way of life.
Sadly, our cultural elites simply take for granted that they are always self-evidently right about everything, despite reinventing their moral principles roughly every ten years. And if they are self-evidently right, then they must view as tremendously liberating all those policies which prevent others from thinking, saying or doing anything different from what, in their superior wisdom, they have approved.
And yet they do not even pretend to have a standard of right and wrong which derives from anything other than their own prejudices. They are themselves guilty of the very moral stupidity that they so conveniently project onto others. But I suppose we should not find this at all surprising. As I said at the beginning, this is simply the darkening of the intellect which is invariably caused by attachment to sin. We all suffer from it to one degree or another, but it is a fatal condition in those who see themselves as the arbiters between good and evil, and so refuse to open themselves to grace.
To put the matter as succinctly as possible, the freedom to live as Dame Louise Casey insists that we live is neither more nor less than slavery to sin.
We need to pray for our brethren in the UK, as well as for those in Canada.
A more appropriate term than "homophobia" is "cathnophobia," a fear of Catholicism and of Catholics who follow its discipline. Catholics do not fear persons, but they do fear for their children, other family members, and their society the consequences of evil behavior. Thus we have a fear of our children being murdered, being lied to in government schools, being seduced by a decadent culture into a life of debauchery, and being denied the opportunity to live their faith in the public square.
3 What Are the Advantages of a Shower Vs. a Bathtub?
4 What Is a Three-Quarter Bathroom?
When it comes to bathroom remodeling, you’ll likely get a good return on your investment. If you decide to replace a bathtub with a shower, however, in real estate terms that changes the bathroom from a full bath with a toilet, tub and shower, to a three-quarter bath. How that change will impact your home’s value will depend upon on several factors.
According to a 2012 survey conducted by the National Association of Home Builders, bathrooms are the most popular remodeling project in the United States. In most cases, remodeling the bathroom is a good investment. Each year, "Remodeling Magazine" analyzes the construction costs of leading home improvement projects and compares them to the costs recovered at resale. In 2013, the magazine's Cost vs. Value report showed that a mid-range, full bathroom remodel returned 62.5 percent of the $15,782 investment.
Return on investment is an important factor to consider before eliminating a bathtub. But if you have a need for a shower and you plan to live in the house for some time, getting a good return on your investment when you sell may not be as important as having that convenience right now. Whether you need more space for comfort and storage, or if someone in the family has difficulty using a tub, sometimes need trumps financial value.
Replacing the tub with a shower in the only bathroom is riskier than switching from tub to shower in a second or third bathroom. Eliminating a home's only full bathroom could turn off potential buyers. Many parents prefer to bathe children in a tub rather than a shower; many buyers like to soak in a tub. The National Association of Realtors says as long as the home has at least one tub, switching from a tub to a shower shouldn't negatively impact resale value.
According to a 2013 survey conducted by NAHB to determine what home buyers want, 51 percent of respondents said they did not want a master bath with only a shower stall; 81 percent of respondents said they wanted a full bath on the main level, with 45 percent of them considering the main level essential or must-have. However, the days of the massive whirlpool bath are coming to an end regardless of bathroom location, according to Regents Renovation in Atlanta, GA. The remodeling company says it is now renovating more of its clients' bathrooms with inviting showers. The spa shower is becoming increasingly popular.
Reynolds, Julie. "Does Replacing a Bath With a Shower Decrease Your Home Value?" Home Guides | SF Gate, http://homeguides.sfgate.com/replacing-bath-shower-decrease-home-value-81551.html. 15 December 2018.
TOKYO - Global stock markets were mostly higher Friday ahead of a U.S. employment report, cheered by a record close on Wall Street and talk of further stimulus from the European Central Bank.
France's CAC 40 fluctuated in early trading, inching up 0.1 percent to 4,230.87. Germany's DAX gained 0.3 percent to 9,402.83. Britain's FTSE 100 added 0.7 percent to 6,597.15.Wall Street, which closed at a record high Thursday, was set for a muted open, with both Dow and S&P futures flat as of 8:00 a.m. ET.
A strong report on U.S. hiring from payrolls processor ADP suggested Friday's official monthly figures will show robust employment growth. If that is the case, it will allay lingering worries that the Fed's recent decision to withdraw its extraordinary stimulus, provided through a massive program of bond buying, was premature. Intended to spur economic recovery after the global recession, the stimulus helped markets defy gravity even in the face of poor company earnings or bad economic news.
"It does concern me that everyone is now positioned for a strong payrolls" report, said Chris Weston, chief market strategist at IG in Melbourne, Australia. "Although this seems fair given all the usual leading indicators have been strong. " He said forecasts for U.S. job creation in October range from 140,000 to 314,000 with 235,000 the consensus figure.
The European Central Bank is under pressure to provide more support for Europe's recovery and prevent prices from falling. The ECB decided Thursday to keep its benchmark interest rate unchanged at 0.05 percent, a record low. But after talk of doing more from ECB President Mario Draghi, markets have turned higher.
Japan's Nikkei 225 closed up 0.5 percent at 16,880.38 and Australia's S&P/ASX 200 climbed 0.5 percent to 5,549.10. Seoul's Kospi added 0.2 percent to 1,939.87 but China's Shanghai Composite lost 0.3 percent to 2,418.17. Hong Kong's Hang Seng shed 0.4 percent to 23,550.24. Markets rose in Taiwan and Singapore while benchmarks in Indonesia, Thailand and the Philippines fell.
The dollar rose to 115.23 yen from 114.58 yen late Thursday. The euro fell to $1.2399 from $1.2507.
Benchmark U.S. crude oil was up 2 cents to $77.93 a barrel in electronic trading on the New York Mercantile Exchange.
Benedict Associates Ltd will host the Entrepreneurial Leadership Summit at the Hamilton Princess on March 23, as well as a Leadership MasterClass on March 24.
A spokesperson said, “Research indicates that, when effectively implemented, Entrepreneurial Leadership can boost your competitive advantage. The Entrepreneurial Leadership Summit will provide attendees the opportunity to harness the expertise of cutting-edge leaders in Bermuda and abroad, and this will be an engaging & stimulating learning experience.
“Participants will hear from diverse speakers regarding the challenges, opportunities, successes and possibilities for innovation and growth. Middle managers, teams as well as leaders of organizations will benefit from discovering how to add 10% to the bottom line with little or no additional cost.
“The Honourable David Burt will open the Summit by welcoming the Entrepreneurial Leaders who will share their personal journeys of success in Bermuda. Sponsors of the Summit include: The Bermuda Business Development Agency, Bennett Jones Bermuda, Bermuda Economic Development Corporation and Clarien Bank.
“Our exciting roster of Summit speakers on Friday includes Dr. Chris Roebuck, Entrepreneurial Leadership Expert; Stuart Lacey, CEO & Founder, Trunomi; Michael Branco, CEO & Founder PTix, Fireminds; Kristin White, Cultural Tourism & Social Entrepreneur; Kendaree Burgess, Executive Director, Bermuda Chamber of Commerce; Dominique Hussey, Lawyer, Bennett Jones, Intellectual Property Expert; Jason D’General Sukdeo, CEO & Founder Bermuda Heroes Weekend; Maria Marsh, Human Capital Director and Principal, Nephila; Deryn Lavell, Head of Saltus Grammar School; Malcolm Butterfield, Chief Executive Officer, Bermuda Insurance Institute; Erica Smith, Executive Director, Bermuda Economic Development Corporation; and Reverend Jeffrey Brown, Co-Founder of “My City at Peace” & Speaker on Collaborative Leadership and Community Building.
“The Leadership MasterClass on Saturday includes “Unleash Your Leadership Potential to Deliver Success to You, Your People & Your Organization” Led by Dr. Chris Roebuck and “Entrepreneurial Leadership in 21st Century Learning” Led by Deryn Lavell.
“Benedict client companies can call Benedict Associates to receive their discount for attendance.
“The Entrepreneurial Leadership Summit will take place on March 23rd from 8:30 am to 6:00 pm, including breakfast, lunch and cocktail reception for $395.
For more information, visit the website. Tickets are available from ptix.bm.
“Youth Leaders in attendance: Students involved in Leadership will be attending the Summit and MasterClass. Already registered are students from Berkeley’s Virtual Enterprise International [VEI] programme as well as university graduates involved in the HSBC Graduate Development program.
“Overseas speaker Chris Roebuck, will speak about the need for not only organizations to be entrepreneurial but for HR to do the same to support the wider organization. Chris demonstrates that HR Representatives are a catalyst for success to its organization.
“His work regarding transforming performance within many global companies, including KPMG, HSBC, UBS, London Underground, military and other public-sector bodies is highly sought after. Amazingly, results show that up to 30% more effort is recognized from 60% of people.
“The transformation delivered whilst he was at UBS is now a Harvard Case Study on how to create a high performing, aligned and integrated global organisation.
“Chris will convey what is at the leading edge of HR practice and future developments, including optimizing employee performance; understanding the impact of neuroscience on organizational and individual performance; giving employees freedom to implement their own capability; and optimizing diversity to maximize performance.
George Joseph Wise Jr. of Aquebogue died Oct. 8 at Peconic Bay Medical Center in Riverhead. He was 70.
Mr. Wise was born May 3, 1948, in Queens to George J. and Dolores (Bergin) Wise.
He attended college and served as an SP4 with the U.S. Army during the Vietnam War. He received the National Defense Service Medal, Vietnam Service Medal and the Vietnam Campaign Medal with 60- device. He was a member of the American Legion.
Mr. Wise worked in law enforcement. He enjoyed family, singing, NASCAR, football, fishing and driving to the beach.
He was predeceased by his wife, Donna, his mother and granddaughter Marissa D. Torres. He is survived by his father; daughters Kim L. Wise of Aquebogue and Michelle L. Carragher (James) of Calverton; son George J. Wise III; and grandchildren Victoria E. Shank (Ryan), Sgt. Robert A. Torres and James Carragher.
The family will receive visitors Friday, Oct. 12, from 2 to 4 and 7 to 9 p.m. at McLaughlin Heppner Funeral Home in Riverhead. A funeral service will be held at 9:30 a.m. Saturday, Oct. 13, at St. John the Evangelist R.C. Church in Riverhead. Burial will take place at 9:30 a.m. Tuesday, Oct. 16, at Calverton National Cemetery.
Memorial donations may be made to New York University Langone Transplant Institute, 317 East 34th St., New York, NY 10016.
Aaron A. Walton, Cheyney's president, announces fundraising campaign and continued partnerships to ensure the school's financial future, during a news conference at the school Tuesday.
Despite recent concerns about Cheyney University’s accreditation and finances expressed by the head of Pennsylvania’s state system, the school’s president Tuesday announced an ambitious fund-raising campaign to help balance the budget by June 30 and vowed to work to keep the historically black university around for another 182 years.
“We will have a balanced budget,” Cheyney president Aaron A. Walton said at a news conference in the school’s science center, attended by alumni, students, and others.
Walton also said that revenue-generating plans with private partners, announced in July, were progressing and that a local company, Epcot Crenshaw, planned to relocate its headquarters to Cheyney’s campus. In the meantime, he said, the company, which focuses on the environmental impact of food production, plans to convert an existing Cheyney building into a laboratory. A greenhouse and aquaponics facility are planned, too.
Thomas Jefferson University, another partner, is planning to build a medical facility on campus, Walton said, and already has brought Cheyney faculty and students to its Center City campus for shared learning. Neither Walton nor Joseph Hill, Thomas Jefferson’s chief diversity officer, offered any details on the medical facility, noting that it was still in planning.
“We’re still having discussions around what that facility would look like,” Hill said.
A map board shows future expansion plans for Cheyney's campus.
Walton also said the university was in talks about building a hotel and conference center on campus, 275 acres of rolling farmland in Delaware and Chester Counties. A multipurpose building for large university gatherings that also could be used by the community is in planning, too, Walton said, as is a partnership with the national Starbucks Foundation for research.
“All these would be revenue-generating activities,” Walton said, showing a map that outlines a commercial area planned for the campus.
They also would provide internship and training opportunities for students, Walton said.
The news conference followed something of a bombshell dropped last month by Daniel Greenstein, chancellor of the Pennsylvania State System of Higher Education.
Greenstein told state senators at a budget hearing that Cheyney was likely to lose accreditation later this year and looked as if it would be short on cash again by as much as $10 million. He said the university may have to operate as an unaccredited institution, possibly offering career training.
After Greenstein and Walton met with Gov. Tom Wolf last week, Walton said all were committed to Cheyney’s future. Cheyney has struggled with finances and enrollment in recent years but has been executing a plan for transformation under Walton, who took the helm nearly two years ago.
After Walton’s remarks Tuesday, Kenn Marshall, a spokesperson for the state system, said the chancellor stands by his remarks at the Senate hearing.
It’s a “huge balancing act,” Bogle said, trying to cut costs and maintain educational quality.
During the news conference, Walton said he expected the university to retain its accreditation through Middle States and asserted that much of the $10 million funding hole Greenstein referenced is a cash-flow problem he expects to be resolved.
The university, however, is aiming to raise about $4 million over the next few months under a new campaign to make sure the budget is balanced.
Walton projected that enrollment would grow from just over 400 this year to nearly 700 in the fall and said the school had experienced a jump in applications of more than 30 percent. The academic quality of the students who put down deposits for next year has improved and more freshmen returned to the campus in 2018-19 than in prior years, Walton said.
Ayana Curtis, 19, a freshman from Philadelphia who attended the news conference, said the president’s words were a relief in the wake of news reports about accreditation and budget problems.