Monday, April 28, 2003

Morning Memo


Hot tips & news to start your business day

Today's number: 660 - Corporate jobs that Kmart Corp. planned to eliminate this month as it prepared to leave Chapter 11 bankruptcy protection, bringing the total jobs cut to 57,000 during its year-plus reorganization.

Today's career talk: In the New York Times bestseller The Pact by Drs. Sampson Davis, George Jenkins and Rameck Hunt, the authors found that mentoring at a local elementary school brought more than they gave: "No monetary value can be placed on the feeling that comes when you know you've made a difference in another person's life. And don't forget, when you touch another person's life, the gift keeps on multiplying."

Today's money tip: Large-cap equity funds are mutual funds that invest primarily in the shares of big blue-chip corporations. Small-cap equity funds invest primarily in the shares of much smaller firms. To build a diversified mutual fund portfolio, it is generally a good idea to invest in both large-cap and small-cap funds.

Today's company: The Bistro Group

FOCUS ON FOOD: Based in Mariemont, The Bistro Group has four divisions: TGI Friday's, Karlo's Bistro Italia, McAlister's Deli and the Hofbra¸ House, for which Bistro has the management contract. With 33 restaurants within its Ohio, Kentucky, Western Pennsylvania and West Virginia region, it is among the largest food service companies based in Cincinnati. Its average restaurant produces $3 million to $3.5 million in annual revenues.

BURGEONING BISTRO: The company recently launched the McAlister's franchise here and just opened a new Karlo's at Pictoria Island in Springdale. The Hofbra¸ House in Newport, the first outside Munich, Germany, is slated to pour its first draft April 29.

SUPER-SIZING: Established in 1989 by the Conway family, The Bistro Group started off with two TGI Friday's restaurants, in Lexington and in Louisville. Its first in the Tristate was in Covington. Now the company is the second-largest TGI Friday's franchisee. An aggressive growth plan aims to essentially double the company's size in the next five years.

REACHING OUT: The Bistro Group is very involved in education, the arts and community service organizations in each of its markets.