Bankruptcies

[bill_g]

Never eaten there.

[pipistrelle]

Never eaten there.

Me, neither. Can’t eat seafood. Also prefer local.

[MN-Skeptic]

The local Red Lobster was always a favorite of my husband and me. It brings back a lot of good memories of times spent with my sweetie.

In the past couple of years I've had lunch with a friend from high school. His wife is reliant on a wheelchair, so he comes alone. The last time I suggested Red Lobster. He was thrilled because it turns out that his family does not care for seafood but he loves it.

There are better, more expensive seafood restaurants around, but I'm fine with what I order at Red Lobster. As long as my local one is in business, I'll eat there.

[John Thomas8]

The local Red Lobster was always a favorite of my husband and me. It brings back a lot of good memories of times spent with my sweetie.

In the past couple of years I've had lunch with a friend from high school. His wife is reliant on a wheelchair, so he comes alone. The last time I suggested Red Lobster. He was thrilled because it turns out that his family does not care for seafood but he loves it.

There are better, more expensive seafood restaurants around, but I'm fine with what I order at Red Lobster. As long as my local one is in business, I'll eat there.

The cheddar bay biscuits are sneaky top notch.

[neonzx]

We still have a Red Lobster a couple miles from me. Parking lot always seems mostly full.

Always disliked RL because even as a kid i disliked seafood. (the part Jew in me, perhaps).

[W. Kevin Vicklund]

Back in 2005, not-yet-Dr. Vicklund went to Canada for a year to do her dissertation research. She was close enough that about 3 out of every 5 weekends I headed south to the border (I was working in Detroit at the time). My wife loves her some Red Lobster, but it was not convenient where she was staying. One weekend, we went shopping and I spotted a package of cheddar biscuits. I broke out into a spontaneous rendition of "Cheezy Biscuits" to the tune of the Halleluiah Chorus. The entire Halleluiah Chorus. In a chipmunk voice.

The biscuits were a major letdown.

And now I want Cheddar Bay Biscuits for dinner.

[W. Kevin Vicklund]

Fuck it. Saturday was our 22nd anniversary and we spent it with family, so haven't done a special dinner.

CHEEEEEEEEEEEzy BISCUITS! CHEEEEEEEEEEEzy BISCUITS! Cheezy biscuits, cheezy biscuits, cheeEEzy biscuits!

[northland10]

I don't think I have been to a Red Lobster since the late 70s or early 80s. I don't recall what I ate but a guess would be, something fried and clams were involved.

It was not something on my list to go to when I was in college and after that, I was far away from all chains but A&W.

[keith]

Ok, i cant grok what youse guize are blabbing about.

Its been nigh on 40 years since i've even seen a Red Lobster. I was far from impressed the two times I went. It just struck me as a down market feeding trough and the memory has not grown fonder with time.

Gimme a HoJo's ennyday. Or even a (Bob's) Big Boy.

Edit: and my lovely SWMBO makes GREAT cheese crackers

[noblepa]

I just heard on NPR that FTX, the company that Sam Bankman-Fried headed up and which is in bankruptcy, has announced that they are going to restore 100 percent of the lost funds to their clients.

Apparently, some forensic accountants, who specialize in bankruptcies and finding assets to pay creditors, found that some of SBF's investments, while fraudulent, have paid off, big time. They have announced that some of the investments doubled the amount that SBF invested, to the tune of more than $500M increase.

It wasn't clear in the report whether these investments were made in the name of FTX or SBF, personally, and that they were able to claw back his personal assets.

The report also did not touch on the issue of how this might affect SBF's sentence or potential appeals. He may try to use Trump's defence that everyone got paid back, so there could not have been any fraud.

[bill_g]

I'm going to rob a bank, gamble the money at a casino, win big, pay back what I stole to the bank, and call it a day. No harm. No foul.

[keith]

I don't remember for sure, but I think it was an episode of "Alfred Hitchcock Presents".

A bank clerk, after 20 years or something, giving exemplar service was 'retired' without so much as a gold watch. But he was ready for it, he embezzled a couple hundred thousand and "hid it somewhere".

He was caught, never fought the case, never let anyone know where the money was, served his 10 years or whatever it was, and refused parole for info on where the money was hidden.

When his sentence was up, and with insurance folks still on his trail, he walked into a rival bank, withdrew all the money, paid back the stolen principle, and lived high on the hog for the rest of his life on the interest accrued.

I kinda doubt this is a successful strategy IRL, but it worked for the show anyway.

[John Thomas8]

[neonzx]

Jt8.

I did not watch the video because it looked long.

But, I don't think the "endless shrimp" promo was a major factor in Red Lobsters current situation. I heard they lost $10 million over that which is a pittance for a major restaurant chain.

[John Thomas8]

Patrick's analysis agrees.

Not sure when a twenty minute video got "too long", but we're all different.

[raison de arizona]

Private Equity bled them dry.

[John Thomas8]

Private Equity bled them dry.

Late Stage Capitalism at its "finest".

[Chilidog]

I don't remember for sure, but I think it was an episode of "Alfred Hitchcock Presents".

A bank clerk, after 20 years or something, giving exemplar service was 'retired' without so much as a gold watch. But he was ready for it, he embezzled a couple hundred thousand and "hid it somewhere".

He was caught, never fought the case, never let anyone know where the money was, served his 10 years or whatever it was, and refused parole for info on where the money was hidden.

When his sentence was up, and with insurance folks still on his trail, he walked into a rival bank, withdrew all the money, paid back the stolen principle, and lived high on the hog for the rest of his life on the interest accrued.

I kinda doubt this is a successful strategy IRL, but it worked for the show anyway.

that was also an episode of Sanford and Son

[neonzx]

Patrick's analysis agrees.

Not sure when a twenty minute video got "too long", but we're all different.

It is when one runs into 10 of those a day. (not pointing at just thefogbow). I don't need internet podcasters deep dive 'splaining. Some of us need sleep time.

Red Lobster will survive but needs new corporate ownership. Darden was smart when they divested themselves of that brand from their portfolio.

[Rolodex]

Yeah the cheddar bay biscuits are pretty yummy. I grew up in Houston. They had RLs there but I swear I don't know how a chain seafood could be successful in a place where you have super fresh seafood available everywhere. I think I might have been once or twice (but people go buy those biscuits to serve at parties).

[W. Kevin Vicklund]

BTW, you can buy the cheddar bay biscuit mix to bake at home, I have a box or two I bought at my local grocery store (Meijer). Not sure it's quite as good as what you get from the restaurant, but it's at least passable (unlike the Canadian cheezy biscuits).

[Shizzle Popped]

Somewhere around here I have a KETO recipe for cheddar biscuits that my wife says are really close to the RL biscuits. The real things are a bit high in carbs (16g) for my fairly limited diabetic diet these days so I haven't had them in a while. I think my recipe is only 3 grams.

[neonzx]

I find funny that only thing people seem to rave about are those cheddar biscuits. Nobody anywhere talks positive about the main entrées on the menu. Is it a surprise this chain fell out of favor?

[Shizzle Popped]

I find funny that only thing people seem to rave about are those cheddar biscuits. Nobody anywhere talks positive about the main entrées on the menu. Is it a surprise this chain fell out of favor?

I became a seafood snob during the decade I lived in Seattle. If I want blackened tilapia from frozen fish I can do that in 7 minutes on my own with $6/lb fish from Costco. It really pissed me off when we lived in Seattle and a restaurant would offer Atlantic salmon when the local was sooooo much better.

[MN-Skeptic]

I became a seafood snob during the decade I lived in Seattle. If I want blackened tilapia from frozen fish I can do that in 7 minutes on my own with $6/lb fish from Costco. It really pissed me off when we lived in Seattle and a restaurant would offer Atlantic salmon when the local was sooooo much better.

Yeah, when my Seattle sister was visiting me in Minnesota, Red Lobster was fine for shrimp, but for better seafood we went to Kincaid's - my husband's and my favorite restaurant. I took my sister and her wife there a couple of years ago and they said "This looks so familiar!" Turns out it's a sister restaurant to one of my sister's favorite Seattle restaurants - Scott's. (Actually in Edmonds, but my sister lives in northern Seattle.)