Pulverizing the Middle Class — Part 1

March 19, 2007 at 12:17 am (Uncategorized)

What do these items have in common:

Ariz. ranks No. 2 in high-interest mortgages

Catherine Reagor
The Arizona Republic
Mar. 18, 2007 12:00 AM

Arizona ranks No. 2 in the country for the highest percentage of subprime loans, those risky, high-interest mortgages that grabbed national headlines last week with the announcement that delinquencies and defaults are rising.

OSI TO FOCUS ON FLAGSHIP BRAND AS PRIVATE ENTITY

TAMPA, Fla. – OSI Restaurant Partners Inc. plans [...] a $3.63 billion buyout of the Outback Steakhouse parent is expected to gain shareholder approval. [...]OSI will focus on a turnaround of the 953-unit Outback chain, which has struggled since 2005. Most industry analysts agree that OSI is better off regrouping as a private outfit than as one forced to heed shareholder demands.

Casual-dining giants end a tough week on Wall Street
Some of the largest public casual-dining companies took hits on Wall Street the week of March 12 as two analysts cast doubt on the sector because of low price-point promotions that could eat into margins and possible belt-tightening among consumers in the wake of the sub-prime lending bust.