Page 3 of 3 FirstFirst 123
Results 61 to 67 of 67

Thread: Papa John's founder becomes unperson at his own company for uttering The N Word

  1. #61



  2. Remove this section of ads by registering.
  3. #62
    Papa John's founder John Schnatter is leaving its board of directors as part of a settlement resolving a bitter dispute for control of the world's third-largest pizza chain.The company said in a regulatory filing on Tuesday it would co-operate with Schnatter to find a mutually acceptable independent director who would not be affiliated with Schnatter or hedge fund investor Starboard Value LP, which owns a nearly 10 percent stake in the restaurant chain.
    Schnatter, who owns about 30 percent of the company's shares, would resign from the board if the independent director is appointed before the annual stockholder meeting slated for May, Papa John's said. Schnatter stepped down as chairman last summer, following reports he had used a racial slur on a media training conference call.
    Schnatter has filed several lawsuits against the company in a bid to regain control of the company he founded in his father's tavern. In January, he claimed a victory when a court ordered the board to give him some internal documents, including text messages related to his firing, which Papa John's had until then refused to share.
    After learning that Papa John's would not nominate him to its board this year, Schnatter last Friday submitted a letter nominating himself, according to a regulatory filing and a person familiar with the matter. The moves laid the groundwork for a costly and distracting proxy battle that the settlement now helps avoid, the person said.


    As part of the agreement, Papa John's has agreed to share with Schnatter all of the company's records, giving him the option to sue if those documents revealed wrongdoing by the company, Schnatter said in a statement
    Schnatter, in return, has agreed to dismiss lawsuits he filed against the company.
    "(I am) thankful that I've been able to resolve these important issues, and that we can all focus on the company’s business without the need for additional litigation," Schnatter said.
    The restaurant chain agreed to remove a provision of a poison pill, a stockholder rights plan that can dilute shares, preventing Schnatter from speaking with other shareholders about the company.
    Papa John's also agreed to relinquish the requirement that Starboard vote in favor of the incumbent board.

    More at: https://finance.yahoo.com/news/papa-...112632337.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  4. #63
    Papa John International Inc's founder John Schnatter is in talks with financial advisers for a possible sale of his stake in the company, a regulatory filing showed on Monday.

    More at: https://finance.yahoo.com/news/papa-...223946089.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  5. #64
    John Schnatter unloaded even more of his Papa John’s International Inc. shares this week.
    According to a Thursday Securities and Exchange Commission filing, the founder and former CEO of the Louisville-based international pizza chain sold 199,483 shares at nearly $51 per share, for $10.1 million, in a span of two days.
    The latest sale comes after Tuesday’s SEC filing, which indicated Schnatter had sold 114,061 shares for more than $6 million a week after announcing his intent to sell his stake in the Louisville-based company.
    Schnatter has only sold a fraction of his more than 9 million shares, which is still a 30 percent stake in the company. Based on the current sale price per share, he would net about half a billion dollars if he chooses to sell his entire stake.
    That process will most likely be a slow one, said Jim Gordon, an analyst with Pacific Management Consulting Group, who tracks Papa John's.
    Schnatter is “testing the waters in anticipation of an orderly withdraw,” Gordon said. “John owes a duty — not only to his own shares that he wants to get out without collapsing [them] because of the fairly contentious relationship [with the company] — he owes a duty to the rest of the shareholders not to collapse the share price.”
    On Friday, Papa John’s price per share was hovering near $48, a slight decrease from the $51 from earlier this week.

    Schnatter also recently left the board of directors after an agreement that would allow him to collaborate with the company to name a new director. This new filing says Schnatter and Papa John's have engaged in discussions regarding candidates for such role but have come to no decision.

    More at: https://www.bizjournals.com/louisvil...hoo&yptr=yahoo
    Last edited by Swordsmyth; 05-17-2019 at 11:03 PM.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



  6. Remove this section of ads by registering.
  7. #65
    Huh, I would have sold my shares if I had any.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  8. #66
    Today, John Schnatter, the iconic founder and former brand spokesman for Papa John's International, announced the filing of a lawsuit in Louisville, Kentucky against the creative advertising firm, Laundry Service, and its parent company, Wasserman Media. The claims stem from a secretly-taped meeting led by Laundry Service in May 2018, some details of which appeared in a salacious news story in Forbes falsely reporting that Mr. Schnatter used a racial slur against African Americans.In truth, during the conference call, Mr. Schnatter actually expressed his disdain for racism and criticized a well-known figure who reportedly used racial slurs. The recording of the call proves Schnatter said that he himself "never used that word," which contrasts sharply with the false narrative reported in Forbes.
    The complaint also highlights a commercial dispute between Laundry Service and Papa John's International in which Casey Wasserman, the CEO of Laundry Service's parent company, told Papa John's then-CEO Steve Ritchie that he would "bury the founder" if Laundry Service was not paid $6 million. Subsequently, excerpts from the conference call with Laundry Service were leaked to Forbes.
    The suit filed in court today seeks unspecified damages for three counts, including Breach of Contract, Tortious Interference with Prospective Economic Advantage, and Intentional Infliction of Emotional Distress. Mr. Schnatter has pledged to contribute all net proceeds from this lawsuit to charity.

    More at: https://finance.yahoo.com/news/papa-...210500866.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  9. #67
    Similar claims were about MAGA leadership by one of his closest associates but still in office and going strong.

    Omarosa says Trump is a racist who uses N-word – and claims there is tape to prove it

    Former Apprentice contestant and ex-White House adviser writes in new memoir that she witnessed ‘truly appalling things’



    David Smith in Washington
    Fri 10 Aug 2018
    Donald Trump and Omarosa Manigault (now Manigault Newman) attend a church service in Detroit in September 2016. Photograph: Carlo Allegri/Reuters
    https://www.theguardian.com/us-news/...rentice-memoir


    Although some of his associates have created fakenews too now and then and are not always straight shooters like him.

Page 3 of 3 FirstFirst 123


Similar Threads

  1. Replies: 3
    Last Post: 07-13-2018, 04:27 PM
  2. Drug company founder indicted in U.S.-wide opioid conspiracy
    By Origanalist in forum U.S. Political News
    Replies: 5
    Last Post: 10-27-2017, 04:37 PM
  3. Replies: 29
    Last Post: 12-15-2014, 10:32 AM
  4. John Calvin: The Founder Of America
    By Sola_Fide in forum Peace Through Religion
    Replies: 149
    Last Post: 06-11-2011, 05:51 PM
  5. Great metaphor by John Birch founder
    By max in forum U.S. Political News
    Replies: 5
    Last Post: 08-27-2009, 09:32 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •