Quiznos Could Pay Millions in Settlement

Alan J. Liddle reports at Nation’s Restaurant News that a judge has granted preliminary approval for the settlement of four class-action lawsuits filed by Quiznos Sub franchisees against their franchisor that could significantly alter the relationship of the feuding parties and cost the franchisor up to $100 million. The proposed settlement could impact more than 6,900 individuals now associated with the Denver-based Quiznos system “and several thousand who have closed their franchises,” attorneys for franchisees indicated in court documents.

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Post Commencement Lease Negotiations Presentation at DDIFO Members Meeting in Chicago

The National Retail Tenants Association (NRTA) presentation at the DDIFO Members Meeting in Chicagoland on December 3rd, 2009 will include how to identify opportunities that occur after a lease is executed, recognizing potential needs that can be leveraged to obtain concessions that can benefit both the Landlord and Tenant. NRTA will also discuss how to evaluate the relative position of Landlords and Tenants when considering post commencement lease restructuring.

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DDIFO Welcomes New Members!

DDIFO has been invited by a number franchise owners in a number of cities to come and meet franchise owners face to face. I am visiting Dunkin’ Donuts franchise owners around the country in an effort to learn more about your issues and concerns as well as share with you the vision and mission of DDIFO. The meetings have resulted in many franchise owners joining DDIFO. DDIFO welcomes 100’s of new shops as members from the following states: New Jersey, New York, Connecticut, Pennsylvania, Ohio, Illinois, Michigan, Indiana, North Carolina, Maryland, Virginia, Vermont, Massachusetts, Rhode Island, Florida, and Georgia.

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Peace Treaty Brews

Holly Sanders Ware and Josh Kosman report in the NY Post that Dunkin’ Brands is reaching out to angry franchisees they write: Dunkin’ Brands, accused of squeezing profits out of franchisees by suing them, is trying to make friends before it’s too late. Chief Executive Nigel Travis has been quietly meeting with angry franchise leaders in recent weeks, after a spate of unflattering reports about the doughnut chain’s litigious ways, sources with direct knowledge of the meetings saidTravis has told franchisees he is willing to take a fresh look at their contracts and would consider changes that give operators more say over their stores, sources said.

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DDIFO Eying Opportunities on Capitol Hill

On February 3-4, 2010 DDIFO Legislative Affairs Coordinator Rob Branca will be in Washington representing the DDIFO at the second annual CFA Day (Coalition of Franchisee Associations). “I’m really looking forward to getting together with other operators from other franchise systems and with our elected officials and their staffs to discuss important legislation,” said Branca. “It’s important that we bring our perspective to these folks and discuss how new laws and reforms will impact our businesses.”

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Massachusetts State Rep Forry Helps Promote Small Business

Considering her personal and professional background, it is no wonder that Massachusetts State Representative Linda Dorcena Forry is a true friend and champion of small business owners. From her beginnings as the daughter of Haitian immigrants through her college career and into her decade-plus career in city and state government, Rep. Forry consistently has demonstrated a passion for education, community and public service.

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Dunkin’ Franchise Owners in Presidential Spotlight

On October 21, President Barack Obama announced important new steps his Administration is taking to support small businesses. During his speech, the President referred to a few specific small business owners, including Dunkin’ Donuts franchise owner Andy Cabral who was in attendance along with several International Franchise Association (IFA) members and Maria Icaza, also a Dunkin’ franchise owner. Secretary of the Treasury Tim Geithner and Small Business Administration (SBA) Administrator Karen Mills flanked the President during the speech, which took place at Metropolitan Archives, a small family-operated records storage company in Landover, Maryland.

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One Day Older, $2.3 Billion Poorer

Who loses in the CIT bankruptcy? That’s easy: all of us taxpayers. And who triumphs? Private enterprise in the form of Carl Icahn. Gary Weiss writes in Portfolio.com So how was your weekend? I don’t know about you, but I woke up Monday morning poorer by $2.3 billion.

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Lender CIT Files for Bankruptcy

The Boston Business Journal reports that CIT Group Inc. filed for bankruptcy protection Sunday after its board of directors approved of a plan to reorganize the giant small business lender. The plan has also been approved by CIT’s creditors. “The decision to proceed with our plan of reorganization will allow CIT to continue to provide funding to our small business and middle market customers, two sectors that remain vitally important to the U.S. economy,” Chief Executive Jeffrey Peek said in a statement.

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Citizens Bank Sale Subject to Speculation

Tim Mclaughlin reports in the Boston Business Journal that Citizens Bank could get a new owner if the European Commission forces parent company Royal Bank of Scotland to sell more assets than what executives originally anticipated.
RBS, whose shares fell as much as 13 percent Monday, said in a brief statement that negotiations with the EC will include some divestments not initially contemplated.

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