{"id":1591,"date":"2007-07-17T11:56:00","date_gmt":"2007-07-17T11:56:00","guid":{"rendered":"http:\/\/blog.beliefnet.com\/deaconsbench\/2007\/07\/think-of-the-things-you-could-do-with-that-money.html"},"modified":"2007-07-17T11:56:00","modified_gmt":"2007-07-17T11:56:00","slug":"think-of-the-things-you-could-do-with-that-money","status":"publish","type":"post","link":"https:\/\/www.beliefnet.com\/columnists\/deaconsbench\/2007\/07\/think-of-the-things-you-could-do-with-that-money.html","title":{"rendered":"Think of the things you could do with that money…"},"content":{"rendered":"

<\/a> That line from “Jesus Christ Superstar” stuck in my head this morning, when I read that the folks at IHOP (or International House of Pancakes, to some of us) are buying the restaurant chain Applebee’s<\/a>: <\/p>\n

IHOP Corp. said Monday that it has agreed to buy Applebee’s International Inc. for $1.9 billion in cash, and plans to sell restaurants to franchisees to reduce costs and debt.<\/p>\n

News of the agreement sent IHOP shares to their biggest gain in 21 months. IHOP stock increased $4.99, or 8.9 percent, to a record $61.24, on the New York Stock Exchange, its biggest jump since October 2005. Shares of Applebee’s increased 53 cents, to $24.91, on the Nasdaq stock market. <\/p>\n

[snip]<\/p>\n

IHOP plans to sell most of Applebee’s 508 company-owned restaurants to franchisees, said Chief Executive Julia Stewart.<\/p>\n

“It’s a great brand, it just needs to be revitalized,” Stewart said on a conference call. “We will fundamentally change the company’s business model, moving it nearly completely out of the role of owner-operator.” <\/i><\/p><\/blockquote>\n

The Catholic Church — another “great brand, it just needs to be revitalized” — has spent about the same amount in payouts in the sex abuse scandal that IHOP is spending to buy Applebee’s. (“Think of the things you could do with that money \/ choose any charity, give to the poor…”) <\/p>\n

The mind reels. Again.<\/p>\n","protected":false},"excerpt":{"rendered":"

That line from “Jesus Christ Superstar” stuck in my head this morning, when I read that the folks at IHOP (or International House of Pancakes, to some of us) are buying the restaurant chain Applebee’s: IHOP Corp. said Monday that it has agreed to buy Applebee’s International Inc. for $1.9 billion in cash, and plans…<\/p>\n","protected":false},"author":365,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1591","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nThink of the things you could do with that money... - The Deacon's Bench<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.beliefnet.com\/columnists\/deaconsbench\/2007\/07\/think-of-the-things-you-could-do-with-that-money.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Think of the things you could do with that money... - 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