The founder of Papa John’s is feeling burned by his former company … and he’s demanding some answers from the pizza giant’s board of directors. John Schnatter filed a lawsuit in Delaware Thursday to get Papa John’s to disclose all documents…
Showing posts with label Papa. Show all posts
Showing posts with label Papa. Show all posts
Thursday, July 26, 2018
Wednesday, July 25, 2018
NFL"s DeMarcus Ware Refuses to Dump Papa John"s After N-Word Scandal
Just because the NFL cut ties with Papa John’s doesn’t mean DeMarcus Ware will follow suit — in fact, the ex-Broncos star is BRAGGING about ordering a PJ’s pizza … despite the n-word controversy. Ware — who’s now a consultant with the…
Tuesday, July 24, 2018
Papa John"s Worries Founder John Schnatter Will Try a Hostile Takeover
On July 11, Papa John’s namesake John Schnatter admitted to having used the n-word in a conference call and resigned as chairman of the company’s board.
The company has removed his license from marketing.
Unfortunately, some at the company fear that the man who has dragged the company down with him through multiple controversies will return — with a hostile takeover.
John Schattner is no longer the chairman of Papa John’s board of directors. But he is still on the board.
It was only six months ago that he resigned as the company’s CEO after making other controversial remarks — which, by the way, were also laced with (less explicit) racism.
Will the company finally oust him and try to save the brand?
Right now, they’re taking steps to at least limit the damage — by adopting what is known in the business world as a “poison pill.”
The Wall Street Journal reports that the Papa John’s board voted to prevent John Schnatter from increasing his stake in the company beyond its current 29%.
The fear, you see, is that the company’s founder and former CEO will purchase enough stock to obtain a majority share in the company — anything over 50%.
If he does that, then he would possess a controlling interest in the brand.
That would be a real coup for him, but absolutely devastating to Papa John’s stock, which has continued to fall in recent months.
That is why they have introduced this poison pill — or, as they called it in their statement, a “limited duration stockholder rights plan.”
The board has already removed Schnatter’s office at headquarters and, on July 13, made the wise decision to stop using his image in promotional materials.
This latest development stems from a July 11 report that claimed that John Schnatter had used the n-word during a conference call in May.
That word, which is unacceptable for use in any context, was allegedly accompanied by graphic descriptions of violence against racial minorities.
The fallout was swift, with the pizza company losing its media agency over the report and a swell of public outrage.
CEO Steve Ritchie (who replaced Schnatter just months earlier) released a statement: “Racism has no place at Papa John’s.”
Schnatter did admit to having used the slur. He resigned his position as chairman, but remains on the board.
An attorney for Schnatter has whined that the company is treating the founder as a “scapegoat” for struggles with investors.
That remark struck some as funny, given that Schnatter had complained that Papa John’s stocks were falling as a result of NFL players protesting police brutality.
Papa John’s was, at the time, the official pizza of the NFL, for whatever that’s worth. They have since been replaced by Pizza Hut.
Schnatter also made waves for the company — in a bad way — in 2012, when he lashed out at the Affordable Care Act’s requirements, and stated his intentions to pass on those (minor) costs to the consumer.
The man lives in a comically large mansion in the middle of a golf course. His complaints about “onerous” healthcare costs did not go over well.
It is possible, even likely, that Schnatter’s fondness for stirring up racially charged and even explicitly racist controversies is not the only problem ailing Papa John’s.
Their pizza is notable pricier than that of some of their competitors. A Domino’s coupon can get you two medium two-topping pizzas for less than a Papa John’s large specialty pizza costs — also with a coupon.
Customers can do math. But a bad reputation can really sour a brand.
When it comes time for people to order pizza in groups, whether they’re going to watch a sports game or play Dungeons and Dragons, no one wants to be the first to suggest the company that, in some minds, has become synonymous with racism.
The company itself is not to blame, but they have a lot of damage control work ahead of them.
And all of that will be for nothing if Schnatter ever does succeed in a hostile takeover.
Saturday, July 14, 2018
D.L. Hughley Rips "Horrible" Papa John"s Founder, Says Using N-Word is Costly
D.L. Hughley’s joining the ranks of some other celebs and athletes to say good riddance to John Schnatter, and says he isn’t surprised ‘Papa John’ used a racial slur … because he’s a “horrible dude.” We got the comedian at LAX Saturday and asked…
Friday, July 13, 2018
NFL"s Thomas Jones Rips Papa John"s, Your Pizza Sucks!
Ex-NFL star Thomas Jones says he’s off Papa John’s pizza for life — not only because of the n-word scandal … but also ‘cause he thinks their pies taste like ass. “Never in my life [will I buy Papa John’s pizza again],” Jones told us in NYC ……
Thursday, July 12, 2018
Common Agrees Papa John"s Founder Had to Go After Using N-Word
Common says there’s now a zero-tolerance policy for using the n-word … so he’s not surprised former Papa John’s founder John Schnatter is out of a job. Here’s the thing … Common says he doesn’t f*** with Papa John’s anyway … nonetheless,…
Wednesday, July 11, 2018
Papa John"s Founder Resigns from University of Louisville Board Over N-Word
Papa John’s founder John Schnatter is quitting his post at the University of Louisville after he was called out for using the n-word during a meeting to, ironically, discuss his comeback from a different controversy. Schnatter resigned from the…
Wednesday, March 7, 2018
Peyton Manning to Papa John"s: I"m Out!!
Peyton Manning has officially sold off his stake in 31 Denver-area Papa John’s stores — and he completed the move just days before Papa and NFL broke up. As we previously reported, Manning first acquired 21 locations back in 2012 — and they…
Sunday, June 25, 2017
Rich The Kid Drops a Fortune on Papa Smurf Chain!!!
Rich The Kid hopefully is truly rolling in dough, because he’s dripping in jewelry, and his latest acquisition set him back $ 75k. Rich was leaving Peter Marco Extraordinary Jewels Of Beverly Hills on Rodeo Drive Saturday, when he told us he dropped…
Monday, February 27, 2017
Papa John"s Sued ... Your Pizza Company Gives Me Anxiety
Papa John’s irritated the hell out of a man after he says the pizza chain bombarded him with text messages even though he never ordered a slice … and now he’s suing them for bugging him. Jonathan Anozie claims Papa John’s started texting him…
Thursday, December 8, 2016
Kobe Bryant -- Three-Peat Papa ... Wife Gives Birth To 3rd Kid
Kobe Bryant has another three-peat under his belt … ‘cause his wife, Vanessa, has given birth to the couple’s third child … TMZ Sports has learned. The Bryants announced some time ago they were expecting another little girl ……
Saturday, September 19, 2015
Papa John"s -- Confederate Flag Driver Forced To Remove Plates
Z STAFF
EXCLUSIVE
A Papa John‘s delivery guy who sported a Confederate Flag decal plate has been forced by the company to remove it or lose his job.
We’re told the driver, who works at a location in North Carolina, is infamous around town for the plates and locals have been very upset. We’re told customers have even taken to Yelp to voice their complaints.
Things got so serious, we’re told corporate got involved, and the employee was forced to remove the plates.
A rep for Papa John’s tells TMZ, “we do not condone these types of actions — we have taken quick and decisive disciplinary action against the team member involved.” At this point, the pizza joint says the guy still has his job.
As for the pizza … it’s still delicious.
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