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Top Story Tuesday, December 02, 2008

Recession declared as restaurant stocks tumble

NEW YORK (Dec. 2, 2008) It’s finally official: The United States is in a recession. The National Bureau of Economic Research, a group of economists officially charged with declaring recessionary periods, on Monday said the U.S. economy last hit its peak and entered a period of contraction, or what it deems a recession, in December 2007. The restaurant industry has borne the brunt of the economic downturn, as consumers saddled with housing concerns, layoffs and increased expenses for gas and utilities have cut back on dining out.

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MORE BREAKING NEWS
Dunkin' franchise group appoints interim leader
The Dunkin' Donuts Independent Franchise Owners Group Inc., the largest association of U.S.-based Dunkin' Donuts franchisees, named board member Jim Coen its interim president and chief operating officer after the resignation of Mark Dubinsky, who had served as president for two years.

Krispy Kreme gifts buyers free doughnuts
Krispy Kreme is giving away coupons for free doughnuts to purchasers of a dozen of the brand's treats.

CKE inks franchise deals for 51 Carl's Jr. units
CKE Restaurants Inc. said it has signed three agreements with existing franchisees that call for the opening of a combined 51 Carl’s Jr. units in Nevada and Idaho over the next 10 years.

Dollarhyde named CEO of Zoë’s Kitchen
Industry veteran Greg Dollarhyde will assume the roles of president and chief executive of Zoë’s Kitchen, a 21-unit fast-casual chain where he already serves as executive chairman. In his expanded role, Dollarhyde replaces Zoë’s co-founder John Cassimus, who left the company to pursue other interests.

Landry’s Fertitta buys more stock ahead of buyout
Tilman Fertitta, chairman and chief executive of Landry's Restaurants Inc., purchased more than 1 million shares of Landry's common stock in various transactions ending last week, to bring his total stake to 8.6 million shares, or 53 percent of the company.

Gift cards set to reward givers and receivers
Amid less-than-jolly projections for holiday spending, restaurants are wrapping their gift cards with extra perks to tempt shoppers.

Spending blues likely will persist through holidays
The holiday season, which starts in earnest this week, may not get any merrier for restaurants. A new study reveals that consumers are still hesitant to spend during this time of year, when independent and chain restaurants alike typically benefit from family gatherings and holiday shopping trips.

CBRL Group to go back to original name
CBRL Group Inc. said Wednesday that a corporate name change to its original moniker, Cracker Barrel Old Country Store Inc., would become effective within the first two weeks of December.

McD to raise price of Double Cheeseburger
McDonald’s Corp. will increase the price of its popular Double Cheeseburger on Monday, and change the Dollar Menu to include a new sandwich, the McDouble, which is made with less cheese.

Papa John's hits $1 million in sales from mobile-phone orders
Papa John’s International Inc. said it has surpassed $1 million in sales from mobile-phone Web orders since launching the technology in July.

Wash. restaurants partner with health firm in pilot program
With a menu-labeling mandate scheduled to go into effect in Seattle’s King County in January, the Washington Restaurant Association is testing a program that aims to help restaurants offer more healthful options on menus statewide.

Riese group buys restaurant site in NYC
The Riese Organization, one of the largest restaurant operators and real-estate management companies in New York City, said this week it had exercised an option to purchase a two-story building in midtown Manhattan for $4 million.

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FOOD WATCH

Seasons 52 to add steak and mushroom kebab salad


Piatti restaurants add seasonal mushroom menu


Max & Erma's revamps menu


Krystal debuts spicy chicken sandwich


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OFF THE WIRE

Holiday parties curtailed; caterers, restaurants suffer

Lowell, Mass., restaurants pour it on for hot-chocolate glory

Fewer people dining out on Thanksgiving

Jazz, blues restaurant coming to downtown Bellingham, Wash.

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RECIPE IDEAS

DOLE Carnitas and Mango Pizza

The hottest new pizza toppings offer a taste of the tropics, like this flavorful layering of spicy carnitas and DOLE Fresh Frozen Mango.

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As he assembled a slow-cooked roulade of chicken breast with mushroom stuffing on blanched, breaded and fried savoy cabbage along with other vegetables, Martin Heuser had no idea what international impressions he would make.
SPECIAL ISSUES
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R&D conference uncovers a host of menu trends

CHARLOTTE, N.C. — Chefs from an array of chains learned about the growing popularity of mojitos, the increasing challenge from prepared supermarket food, the importance of choosing the right flour and much more at the seventh annual Culinary R&D conference.
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Possibilicheese

We turn heritage, innovation and passion into great cheese.

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A remote chance
Miles from the mainland, operators in Alaska, Hawaii and Puerto Rico see distinct growth opportunities, even as they face each area’s unique challenges.
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NRN Blogs
When is a celebrity chef too much of a celebrity? 
by: Bret Thorn  
I created a bit of hubbub a couple of weeks ago, when I restated my dislike for Top Chef or, more accurately, since I don’t watch the show, my dislike for its fans — or more accurately still, since I have many friends who are fans and respect many others who are fans, some of its fans who have helped to bring the art of sycophantic idol worship and groupie-ism to the world of chefs. I said it was bad for the restaurant industry, because it takes the focus away from the food.Read more