My old friend, high end restaurant with family appeal, and a legendary founder (company web site). I traded it (Nasdaq:RUTH) back in 2005 shortly after its IPO. Obviously with the recession, high end was hurt badly, RUTH was no exception. To make matter worse, RUTH bought a seafood chain in early 2008 using debt. The company changed name to Ruth’s Hospitality Group to reflect the broadening of offerings. The following is a profile video of RUTH.
What a crazy week. The market continued its downward spiral while we hear all kinds of bad news from economy front: from the credit crunch for big guys and little guys; AT&T CEO says some customers can not pay the phone bills; American Express (one of Berkshire’s core holding) had it biggest drop since year 2002…
I also did something crazy (which I regret) this week. My biggest mistake is I sold some MR shares. Yes it did go up after I sold it, just like other stocks did in the past. I will try to buy back some MR shares in the near future because I believe its growth will not affect by the credit problems we are facing now.
Next week, I am eager to wait what the guys at Crocs and Ruth’s Chris Steakhouse have to say at ICR XChange conference. The link of webcast is here.