The table at the bottom is footnote 12 – Fair Value Measurements. I’m confident that Joe Lee (DRI’s former CEO) would have never tried to hedge butter, natural gas, executive compensation or interest rates. Is it a sign of the times or a sign of management’s appetite for risk? I know the absolute dollars are small relative to the size of DRI, but the trend is important. Now that they are in the business of hedging, what’s to stop them from getting more aggressive as they try to manage EPS? A scary thought! Something to keep an EYE on!
Full disclosure: since reading the footnote, I reached out to management, but have not heard back. I will post more details as I get them.
Full disclosure: since reading the footnote, I reached out to management, but have not heard back. I will post more details as I get them.
