John Schnatter, well known racist, got caught using a verboten slur and was essentially forced out of his own company today. This is an amazing turn of events, but it probably is the smartest thing for them to do.
Locally, that kind of thing would have gone over rather badly in a country that's 50% black. The Ministry of Health just sacked a local doctor over her Facebook slurs ( about the other 50%).
But the attendance at his franchise outlets was not affected, though the 'net is buzzing about it. Papa John's pizza is a popular brand here. I would buy the shares myself, as things will probably improve.
[FONT="]Shares of Papa John's fell by as much as 5.9 percent to a new 12-month low of $47.80 a share in intraday trading Wednesday — erasing $96.2 million in market value. The stock recovered somewhat, closing down 4.8 percent at $48.33 a share. Papa John's is down 13 percent so far this year while [/FONT]Domino's[FONT="] shares are up 48.5 percent.[/FONT]
Locally, that kind of thing would have gone over rather badly in a country that's 50% black. The Ministry of Health just sacked a local doctor over her Facebook slurs ( about the other 50%).
But the attendance at his franchise outlets was not affected, though the 'net is buzzing about it. Papa John's pizza is a popular brand here. I would buy the shares myself, as things will probably improve.