This stock is McDonald’s fucked. The brand is on the verge of undergoing a crisis. This will get significant airplay.
Via CDC website:
3 additional states have reported people infected with the outbreak strain of Shiga toxin-producing Escherichia coli O26 (STEC O26) since the last update.
45 people infected with the outbreak strain of STEC O26 have now been reported from a total of 6 states: California (2), Minnesota (2), New York (1), Ohio (1), Oregon (13), and Washington (26).
The epidemiologic evidence available at this time suggests that a common meal item or ingredient served at Chipotle Mexican Grill restaurants in several states is a likely source of this outbreak.
The investigation is still ongoing to determine what specific food is linked to illness.
CDC will advise the public if specific steps are identified that consumers can take to protect themselves.
CDC, the U.S. Food and Drug Administration, and public health officials in several states are investigating an outbreak of Shiga toxin-producing Escherichia coli O26 (STEC O26) infections.
As of November 19, 2015, 45 people infected with the outbreak strain of STEC O26 have been reported from 6 states.
16 ill people have been hospitalized. There have been no reports of hemolytic uremic syndrome and no deaths.
The epidemiologic evidence available at this time suggests that a common meal item or ingredient served at Chipotle Mexican Grill restaurants in several states is a likely source of this outbreak.
43 (96%) of 45 ill people interviewed reported eating at a Chipotle Mexican Grill restaurant in the week before their illness started.
The investigation has not identified what specific food is linked to illness.
Chipotle Mexican Grill is assisting public health officials with understanding the distribution of food items served at locations where ill people ate and this work is ongoing.
Investigators are using whole genome sequencing, an advanced laboratory technique, to get more information about the DNA fingerprint of the STEC O26 bacteria causing illness.
To date, 10 STEC O26 isolates from ill people in Washington (9) and Minnesota (1) were found to be highly related genetically to one another.
CDC and state and local public health partners are continuing laboratory surveillance through PulseNet to identify additional ill persons and to interview them.
Consumers should contact a health care provider if they recently became ill with diarrheal symptoms after eating at a Chipotle Mexican Grill restaurant.
CDC will advise the public if specific steps are identified that consumers can take to protect themselves.
The stock is cratering, down 39 points or 6%.
If you enjoy the content at iBankCoin, please follow us on Twitter
I worked at a Chipotle in college back in 2004. I was aware of the chain prior to that and was a fan, but working there really brought it home for me: this was good fast food.
And now I’ve had so many of those goddamned burritos over the years that I don’t think I’ll ever go there again. Not only am I too familiar with all of the flavor combinations, the quality is basic fast food quality now. As a company, it’s totally changed from its roots. As far as I can tell, they just don’t care about quality control anymore in the Northeast. I guess that isn’t just a local problem given this news.
Anyway… I don’t know that I’d be short here, I’d probably buy it instead, but I would trade it with a short bias until people realize that Chipotle will not be growing much more than it already has.
There’s no way I’m the only one that is tired of everything they have to offer.
Agree 100%.
They don’t care about who they hire anymore too. The one near me has a 400lb woman manning the guac and she slaps it onto the burritos with a great anger. It’s like a prison.
I think the stock goes to zero.
Long SHAK.
Let’s just say the SHAK employees at the locations I have visited in Miami and Chicago were pretty ghetto. These people would not have jobs in SoCal.
LOL that’s also very true, but it’s a problem SHAK has as well. Went to the one in Cambridge MA and they must have transported the employees back to prison after closing time. CMG had hardworking, very able restaurant employees back when they would hire illegals almost exclusively. And college kids.
Lol! Dr. Fly – if at all possible, please Periscope the angry guacamole lady.
I just don’t see how SHAK is a trend that could take-off outside of the overpopulated cities with zombie like people migrating to work and used to food deserts around every corner. There’s no way SHAK is going nationwide or international.
It’s just a trendier 5-Guys with milkshakes
granted, i didn’t have my first chipotle burrito until 2010 but i’ve noticed no decline in the quality. I don’t eat a ton of fast food, but it is still certainly the best quality fast food out there. Sub $8 is also still a good value. I had a combo from wendy’s 2 weeks ago and that was $7.20.
mmmmm delish
One thing’s for sure, if people aren’t eating at CMG, some other company is going to benefit, because it seems like nobody is cooking their own meals these days. It amazes me with the reported joblessness and wage suppression going on, that these restaurant parking lots are so jam packed whenever I’m driving by.
Chi Chi’s
A little history:
February 09, 2008 12:00 am • By Journal Times staff(0) Comments
Jonesing for some Mexican fried ice cream? This question comes in quite a bit.
A combination of bankruptcy and hepatitis drove the chain out of business.
Chi-Chi’s was founded in 1975 by restaurateur Marno McDermott and a former Green Bay Packers player, the late Max McGee.
Chi-Chi’s was named “America’s Favorite Mexican Restaurant” eight years in a row in an independent consumer study conducted by Restaurants and Institutions, an industry magazine.
The Louisville, Ky., based chain, which employed 7,000 people, eventually ended up bankrupt. In August 2004, a $42.5 million bid by Tampa Bay, Fla.-based Outback Steakhouse was accepted in U.S. Bankruptcy Court.
The publicly traded Outback purchased the designation rights for 76 Chi-Chi’s properties, including furniture, fixtures, equipment and liquor licenses.
As a result, Racine’s Chi-Chi’s Mexican Restaurant served its last meals on Sept. 18, 2004.
Chi-Chi’s is a Mexican-restaurant chain in operation in China, Belgium, Luxembourg, the United Arab Emirates, Kuwait, and Indonesia. The chain also once operated in the United States and Canada but exited those countries in 2004. Wikipedia
Founded: 1975
Fate: Bankruptcy
Defunct: 2004
Founders: Marno McDermott, Max McGee
Parent organization: Hormel
Here in NoCal there are sooo many family owned burrito places that are much better than Chipotle and cheaper too.
Seaside, I would never partake unless Grandma ate her own oysters and was doing well.
The problem likely is not in the Chipotle restaurants themselves but with a supplier with a contaminated ingredient. Doesn’t much matter for the stock which, as Fly says, is fucked. Wow, a lot of Chipotle animosity out there.
In N Out Burger has the most polished (and highest paid) fast food employees of all. I think they are all Mormon!
In N Out is the only fast food restaurant I ever patronize.
In and out for the win.
As for Chipotle, the secret is to go when they first open for the day. Tasty, despite the explosive diareahhhhhh
As I recall Baja Fresh had pretty decent food for a fast food place. I noticed it started going downhill and then learned the chain had been bought by Wendy’s International.
In the DC area a place has popped up that appears to be an Italian version of Chipotle.
http://www.gustoitaliangrill.com/
Much enjoyed Baja Fresh when they first appeared even though I prefer a civilized dark , bar with a booth. Baja Fresh had all the fresh cilantro you could possibly eat.