In 2001,
Carl's Jr. purchased the Hardee's Restaurant
chain for what seemed like a bargain price.But Hardee's had under-performed
for so long, it was nearly bankrupt and its prospects were bleak.
The restaurant chain had over-expanded from burgers, fries and
shakes done right, to offering everything under the sun done wrong.
'Mea Culpa' ads admitted
the mistake of over-expansion, talked up a simplified menu and
then introduced the Angus Beef Thickburger. In a business dominated
by thin patties and even thinner margins, this was revolutionary.
Today, just three years later, the stock price has tripled. |
