Sold! Outback Steakhouse (Cheeseburger in Paradise)

Quiet and Shy · Post by **Quiet and Shy** » November 27, 2006 11:10 am

http://today.reuters.com/news/articlene ... AURANT.xml

Outback (owner of CIP) has been sold and is going private. The buyout group (assuming noone else makes a better offer) includes several founders, including the guy who developed the CIP concept with Jimmy. So, this buyout may help to preserve some of the CIP uniqueness that was rumored to be disappearing due to cost cuts (e.g. live bands, the distinctive tower entrance, etc.). It'll be interesting to see how this impacts CIP expansion plans (which seem to have slowed considerably this year).

On a related note, does anyone know why the Plantation, FL CIP closed down?

ToplessRideFL · Post by **ToplessRideFL** » November 27, 2006 11:13 am

Maybe I will wander over to the corp office at lunch and demand some answers....

HebertNecessity · Post by **HebertNecessity** » November 27, 2006 11:14 am

CIP in Plantation close due to the mall closing, it was a sad day

12vmanRick · Post by **12vmanRick** » November 27, 2006 11:27 am

CIP in Atlanta has gone with a corporate pullover type knit shirt and no longer requires managers to wear a Hawaiian type shirt.

They also raised drink prices and we were told they cut the live entertainment budget in half

No wonder Bill left, tired of fighting them over stupid things when they are making money by the boatload.

CaptainP · Post by **CaptainP** » November 27, 2006 11:27 am

This transaction will have no effect on the running of the restaurants. They chose a group to buy us out that shares the same philosophies as OSI. They same people will be running the restaurants, and day-to-day operations will be completely unaffected. This includes CIP.

ToplessRideFL · Post by **ToplessRideFL** » November 27, 2006 11:37 am

CaptainP wrote: day-to-day operations will be completely unaffected. This includes CIP.

Any word on expansion? Like to Tampa???

Tequila Revenge · Post by **Tequila Revenge** » November 27, 2006 11:38 am

CaptainP wrote:This transaction will have no effect on the running of the restaurants. They chose a group to buy us out that shares the same philosophies as OSI. They same people will be running the restaurants, and day-to-day operations will be completely unaffected. This includes CIP.

So what you're saying is we still have to wait for hell to freeze over before CIP opens in California

springparrot · Post by **springparrot** » November 27, 2006 11:54 am

Tequila Revenge wrote:
CaptainP wrote:This transaction will have no effect on the running of the restaurants. They chose a group to buy us out that shares the same philosophies as OSI. They same people will be running the restaurants, and day-to-day operations will be completely unaffected. This includes CIP.

So what you're saying is we still have to wait for hell to freeze over before CIP opens in California

or TEXAS???
and yet there is one in OK??????

Quiet and Shy · Post by **Quiet and Shy** » November 27, 2006 12:04 pm

CaptainP wrote:This transaction will have no effect on the running of the restaurants. They chose a group to buy us out that shares the same philosophies as OSI. They same people will be running the restaurants, and day-to-day operations will be completely unaffected. This includes CIP.

This buyout is probably good news for CIP (the co-creater is directly back involved) as well as all the Outback restaurants (privatizing puts less shareholder/market pressure on short-term stock performance). And I'm glad to see our good CaptainP (Bonefish Grill) didn't get spun off as had been suggested.

CaptainP · Post by **CaptainP** » November 27, 2006 12:34 pm

Rick and I have just discussed this in PMs. But I'll sum up for everyone else:

The recent buy-out won't affect anything. I hold to this statement.

As Bill (HockeyParrotHead) can tell you, there are problems within the CIP concept. Those problems existed BEFORE this buy-out. They essentially started with a shift in power a year ago, the president "retired", and was replaced by a new president who had more of a focus on PROFITS instead of SALES and guest experience.

Tequila Revenge · Post by **Tequila Revenge** » November 27, 2006 12:40 pm

CaptainP wrote:Rick and I have just discussed this in PMs. But I'll sum up for everyone else:

The recent buy-out won't affect anything. I hold to this statement.

As Bill (HockeyParrotHead) can tell you, there are problems within the CIP concept. Those problems existed BEFORE this buy-out. They essentially started with a shift in power a year ago, the president "retired", and was replaced by a new president who had more of a focus on PROFITS instead of SALES and guest experience.

That is a great paradigm! But how do you increase profits if you have no customers? I work for a big corporation too. They'll hold more meeting to discuss the situation.

CaptainP · Post by **CaptainP** » November 27, 2006 12:45 pm

Tequila Revenge wrote:But how do you increase profits if you have no customers?

Focus on profit margins over raw dollars. Produce a cheaper product (I.E. spend $7000 a month on entertainment rather than $12000)

myke212 · Post by **myke212** » November 27, 2006 1:23 pm

Tequila Revenge wrote:
CaptainP wrote:This transaction will have no effect on the running of the restaurants. They chose a group to buy us out that shares the same philosophies as OSI. They same people will be running the restaurants, and day-to-day operations will be completely unaffected. This includes CIP.

So what you're saying is we still have to wait for hell to freeze over before CIP opens in California

They wre supposed to build one in Merrilville Indiana(the local paper had a big article about it) but it never happened.
Still never heard why

citcat · Post by **citcat** » November 27, 2006 1:27 pm

The thing I find very very disturbing is going from tropical shirts to FREAKIN' KNIT PULLOVERs.

Goes under the list of: Things That Make You Wanna

.

land_shark3 · Post by **land_shark3** » November 27, 2006 2:05 pm

12vmanRick wrote:No wonder Bill left, ...

Do what? Bill left? Well that changes my plans for the week.

Quiet and Shy · Post by **Quiet and Shy** » November 27, 2006 3:27 pm

CaptainP wrote:Rick and I have just discussed this in PMs. But I'll sum up for everyone else:

The recent buy-out won't affect anything. I hold to this statement.

As Bill (HockeyParrotHead) can tell you, there are problems within the CIP concept. Those problems existed BEFORE this buy-out. They essentially started with a shift in power a year ago, the president "retired", and was replaced by a new president who had more of a focus on PROFITS instead of SALES and guest experience.

What I'm kinda hoping (and trying to say) is the buyout may favorably impact operations (vs. bad or no impact)...with the buyout quarterly profits and cost-cutting may no longer dominate given some of the old guard are part of the buyout and hence coming back to run the chain.

And, I wonder if JB might be one of the private investors in the buy out...? He's gotta find something to do with all that money he rakes in and getting the CIP brand back into the hands of the co-creator (and away from those who were diluting it through the cost-cutting) would help protect JB's overall image/brand/identity (Margaritaville, etc. -- which is always at risk when you license something out, sell rights, and give up creative/management control).

NanaBabe · Post by **NanaBabe** » November 27, 2006 3:34 pm

There is a CIP on the way to North Tampa according to one of the TBPH club members who works in the corporate office.

Seems a shame to put it way the hell out there, but then again, that area is so far removed from the beach scene, I guess it NEEDS the tropical infusion.

ToplessRideFL · Post by **ToplessRideFL** » November 27, 2006 3:52 pm

NanaBabe wrote:There is a CIP on the way to North Tampa according to one of the TBPH club members who works in the corporate office.

Seems a shame to put it way the hell out there, but then again, that area is so far removed from the beach scene, I guess it NEEDS the tropical infusion.

any indication as to when?

CaptainP · Post by **CaptainP** » November 27, 2006 3:55 pm

Here's what my limited access tells me:

NEWARK, DE opened last week.
EVANSVILLE, IN opened earlier this month
HUNTERSVILLE, NC coming soon

Nothing else is listed, but that doesn't mean nothing else is coming.

Gumbo · Post by **Gumbo** » November 27, 2006 6:07 pm

Just as long as this move doesn't effect the Outback Special, I'm OK.