A number of DDIFO leaders and members attended the 2019 Restaurant Finance and Development Conference and later the Coalition of Franchisee Associations (CFA) Legal Symposium this week in Las Vegas. At the Restaurant Finance Conference, there was much talk about franchisor and franchisee relationships, and the need to creatively cover rising labor and rent expense. Generally speaking, there is adequate lender money available, but loan standards are now higher. The Wendy’s CEO was interviewed and repeated their hopeful breakfast plans. Our DDIFO restaurant analyst, John Gordon, pointed out that the weakness in their plan is that their “national advertising” will deplete the ad fund and result in corporate expenses that will trouble Wall Street.