In the past we have documented the excessive G&A spending at CKR. When questioned, management was adamant that their G&A spending was in line with other comparable companies. We can now cite a specific example where management “perks” may have led to excessive G&A spending.
As you can see from the two pictures at the right, CKE Restaurant’s corporate plane recently took a trip to Hawaii. It was there for 4 days. Nice!
I have no idea who was on the plane or what the business purpose was.
There are no Hardees’s in Hawaii and three franchised Carl’s Jr., two of which are in Honolulu. The plane spent four days in Honolulu so senior management could visit two stores?
As you can see from the two pictures at the right, CKE Restaurant’s corporate plane recently took a trip to Hawaii. It was there for 4 days. Nice!
I have no idea who was on the plane or what the business purpose was.
There are no Hardees’s in Hawaii and three franchised Carl’s Jr., two of which are in Honolulu. The plane spent four days in Honolulu so senior management could visit two stores?
- On Jets.com the cost to rent a light, seven passenger plane round trip would cost $40, 000. Expedia priced out a first class ticked on United at $2,300. I would love to hear the justification for this one.
- Even with CKR posting a good quarter, I know there is still a lot of fat to cut. I can point to other restaurant companies 2x the size of CKR that don’t have a corporate plane.
From Flightaware.com
From Flightaware.com