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Fertitta gets squeezed this time
Looks as if Tilman Fertitta is about to endure a bit of his own medicine. As this post from a couple of months ago explains in detail, Landry's Restaurants, Inc. shareholders have had a wild -- and mostly bad...
The Landry's debacle
There are bad stock plays and there are horrible stock plays. And then there is Houston-based Landry's Restaurants, Inc. This story began back in July of 2007 when the company announced that it was delinquent in its regulatory filings...
Fertitta calls off bid to take Landry's private, but takes it private, anyway
Suffice it to say that it's been an interesting past year and a half for Houston-based Landry's Restaurants Inc., which owns restaurants such as Landry's, Rainforest Cafe, Charley's Crab, The Chart House, and Saltgrass Steak House, as well as...
Landry's is worth more because of what?
Did I read right what Steve Scheinthal, general counsel of Houston-based Landry's Restaurants, Inc., said in this Chronicle article?: Landry's is . . . facing a handful of shareholder suits seeking class-action status in the wake of CEO Tilman Fertitta's...
What's Fertitta's real plan for Landry's?
Given this experience, Landry's Restaurants CEO Tilman Fertitta's offer to take Landry's private in a deal valued at $1.3 billion is not particularly surprising. But the question is this: Would Fertitta, who owns just under 40% of Landry's, actually prefer...
U.S. District Judge Sam Kent takes a leave
This Mary Floor/Harvey Rice-Chronicle article (related blog post here) reports tha U.S. District Judge Sam Kent of Galveston is taking a four month leave from his bench. Judge Kent, who runs a tight ship, was recently in the news as...
Landry's cuts a deal with its bondholders
Houston-based Landry's Restaurants Inc cut a deal with its main group of bondholders on Monday afternoon, resolving litigation that had consumed the company over the past month (prior posts here). Essentially, the bondholders gave Landry's an 18 month window to...
The Landry's bondholders fight back
One of the most irritating aspects for a plaintiff in an inflammatory lawsuit is that the other side eventually gets to tell its side of the story. As noted earlier here, here and here, Houston-based Landry's Restaurants, Inc recently made...
Landry's goes nuclear
As noted earlier here and here, the crunch in the credit markets has Houston-based Landry's Restaurants Inc scrambling to refinance about $400 million in bond debt this week. Well, that scramble took an interesting turn on Wednesday of this week...
Tilman's bad dream
It wasn't a good end of the week for Landry's Restaurants, Inc CEO Tilman Fertitta (previous posts here). First, there was Landry's public disclosures that the company was delinquent in its regulatory filings with the SEC and that it was...
Is Landry's in trouble?
Cerberus Capital Management's decision earlier in the week to terminate its attempted sale of $12 billion in Chrysler debt underscored the quickly tightening U.S. credit markets (except on oil patch deals!), and the ripple effects are already being felt in...
Landry's makes Vegas play
As predicted in this prior post, Houston-based Landry's Restaurants Inc. announced yesterday that it is buying the Golden Nugget hotel-casino in downtown Las Vegas. The acquisition comes on the heels of a Landry's junk bond offering last year amid speculation...
Update on Landry's acquisition search
Following on this earlier post regarding Houston-based restaurant company Landry's search for acquisition targets, the Chronicle reports that the company's target is probably a Las Vegas casino and not the Stros. Landry 's is a national restaurant company that owns...
Is Landry's making a play for the Stros?
As noted in this earlier post, Drayton McLane may be quietly trying to sell the Stros. This Chronicle article speculates that Landry's announcement yesterday that it has completed arrangements for almost $850 million in debt may portend a move by...
Houston's Donald Trump
At its irreverent best, this Houston Press article takes Landry's CEO Tilman Fertitta and Houston mayor Bill White to task for the sweetheart deal that Mr. Fertitta cut in regard to his company's downtown Houston Aquarium restaurant: Houston city officials,...
Chronicle revises Landry's story
After embarrassingly missing the point in its earlier article on the recent firing of Landry's CFO, the Chronicle finally makes the connection between that event and the firing of Landry's auditor a month ago. By the way, I do not...
Market reacts to Landry's management shakeup
Shares of Houston-based Landry's Restaurants fell about 7% during Monday trading after the company announced on this past Friday that Chief Financial Officer Paul S. West had resigned "to pursue other interests." Shares of Landry's stock closed Monday at $27.66...
Baseball Prospectus on the Astros' bench
Amid the mainstream media's mindless analysis of Major League Baseball in general and the Houston Astros in particular, Baseball Prospectus provides an objective, and less than encouraging, analysis of the Astros' bench players for the upcoming season: We've put off...
Landry's atop San Antone
Houston-based Landry's Restaurants $9 million remodeling plan outdueled a 35-year incumbent and hometown favorite Thursday to win a 15-year concessions contract for restaurant atop the Tower of the Americas, the 750 foot tower near the Alamodome in San Antonio....
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