The Ledger, every show

“Essentially we only allowed the investment banker, nine percent of the shares in distribution, which essentially went to their clients and the hedge funds. We protected 91% of it, of that distribution so that it ended up in the right hands.”

“And for people who were working in white collar jobs increasingly in urban settings, this was the first example of what we later came to call fast casual. This was an attempt to do something that was better But in a quick service mode.”

“I think that in the Sweetgreen IPO, We see a case where a number of the investors sold fairly quickly.”

“It was a huge boardroom struggle, because I had two votes, our venture capitalists had three, and all of them had invested in Au Bon Pain.”

“We said this is the time to build competitive advantage, and ultimately we tripled the stock through the recession.”

“You have Kava, which has been the most successful food service IPO of the last five years, arguably. Now a company worth seven billion dollars was worth as much as fifteen billion, but it's up three, fourfold from its IPO a year and a half ago.”

“Panera was the best performing restaurant stock over two decades. Its last two decades produced 25% IRR In fact, somebody told me we actually beat Warren Buffett and Berkshire Hathaway.”

“I was one of the eight or nine people that co-founded a group called No Labels here in the United States, which is meant to reduce the hyper-partisanship in D.C., the polarization, and focus us on long-term thinking.”

“And they paid for it, and what, at that time, was the largest or second largest U.S. Restaurant deal ever done. 7.8 billion dollars, and among the highest multiples.”

“For a year and a half before we went public, we did quarterly earnings calls. In the company, simulated, with our investors, you know, they had to do press releases, they had to take questions.”

“Well, I can tell you the future is in Upscale bakery cafes where you have real chefs where you have food that's worth going out of your way for.”

“Today I would gather that Kava is going to mark a cap five times what Sweet Greens is worth, something in that order, four or five times.”

“We're also in a company called Tate, which is in, Boston and D.C. And now the New York market. It's 50 restaurants doing about five million dollars a year and two hundred fifty million.”

“What the bakery cafe was an alternative between down and dirty fast food. And fine dining. And for people who were working in white collar jobs increasingly in urban settings, this was the first example of what we later came to call fast casual.”

“The stock has been up a hundredfold since then.”

“And ended up selling for 315 a share.”

“We said this is the time to build competitive advantage, and ultimately we tripled the stock through the recession.”

“I came to them and said, look it, I think I can fix this. You give me 60% of the company. You and your investors keep 40%. I'll put my cookie store, which was making money, in with your three Obonpens, and we'll create a new company.”

“It was a huge boardroom struggle, because I had two votes, our venture capitalists had three, and all of them had invested in Au Bon Pain.”

“That became the ideology that fuels what's called fast casual today, which is a three hundred and fifty billion dollar business.”

“I spent a hundred and fifty million dollars on technology.”

“Pepsi came after us. They decided this was going to be the third leg of Pepsi food service, and they created something called La Petite Boulangerie. Sarah Lee came after us. They bought a chain called Michelle's Baguette, and they were going to open 400 stores…”

“St. Louis Bread Company was generating volumes nearly as high as Au Bon Pain, but doing so in real estate that cost half as much.”

“Basically every three days.”

“I owned, you know, six times more stock than him, but most of the community at that point undoubtedly thought the company was Lou's.”

“Pepsi came after us. They decided this was going to be the third leg of Pepsi food service, and they created something called La Petite Boulangerette. Sarah Lee came after us. They bought a chain called Michelle's Baguette, and they were going to open 400 stor…”

“St. Louis Bread Company was generating volumes nearly as high as Au Bon Pain, But doing so in real estate that cost half as much.”

“No, and it ended up selling for 315 a share.”

“Basically every three days.”

“No, I, you know what, the truth is, I probably could, because I voted 17% of the stock, and I had this reputation, this credibility.”

“Three percent of Americans is vegetarian, but 40% are eating more plant forward.”

“But we put defrosted spinach in clothes dryers letting it run off the water was a great idea until one day we blew the top off the dryer and ended up with spinach in In all 3000 square feet of the production space.”

“We put defrosted spinach in clothes dryers letting it run off the water was a great idea until one day we blew the top off the dryer and ended up with spinach in, in all 3000 square feet of the production space.”

“We didn't even have the ability to maintain our equipment, and I would use my auto mechanic to help fix the equipment. I didn't know what else to call, and we had a dough divider that was essentially being held together with bailing wire and paper clips.”