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Torchys Tacos, an Austin-based restaurant chain, is planning an initial public offering IPO , Bloomberg reported on Sunday聽 March 14 .Citing people with knowledge of the matter, Bloomberg said the chain is working with Morgan Stanley, Bank of America Corp and J.P. Morgan Chase Co. Torchys, which ha
stanley hrnek s more than 75 restaurants throughout the South and Midwest, could raise roughly $300 million and be valued at nearly $1 billion, the sources told Bloomberg.They noted that the decision is not yet final and the companys plans c
stanley romania ould change. Representatives from Torchys did not respond to requests for comment, and the investment banks and General Atlantic 鈥?the investment firm that backs Torchys 鈥?declined to comment, Bloomberg said.In 15 years, Torchys Tacos 鈥?the business name for the LLC Success Foods Management 鈥?has gone from operatin
stanley mug g a food trailer in Austin to a 10-state mini-empire.The chain formed a strategic partnership with General Atlantic in 2017 and sold a $400 million stake to a General Atlantic-backed group in 2020, opening 12 new restaurants in the middle of the COVID-19 pandemic.If Torchys does go forward with its IPO, it will be doing so following what weve referred to as a transformative year for the restaurant industry. While many eateries suffered due to COVID restrictions and an economic downturn, others pivoted and embraced new digital solutions.For example, a study showcased in the PYMNTS Order to Eat tracker predicted 23 percent of smartphone user Bzxb How Many Payments Does A Cross-Border Merchant Really Need
JPMorgan Chase CEO Jamie Dimon has made his stance clear every time the issue comes back up: JPMorgan is stronger because it is bigger.At least that Dimon perspective 鈥?a view that may not be settling quite as well with some of his company shareholders.聽In his annual letter to shareholders, Dimon w
stanley kubek ent on, at some length, to say that the mission-critical services that big banks can supply are the types of things regional and community banks simply cannot do. In todays heated public dialogue, to frame issues as a winner-take-all fight between opposing interests: big versus small, Main Street versus Wall Street is a tempting view, Dimon wrote, noting that it doesn ;t align with re
stanley cup ality. The U.S. financial services industry does not conform to simple narratives. It is a complex ecosystem that depends on diverse business models coexisting because there is no other way to effectively serve Americas vast array of customers and clients, Dimon wrote.As for JPMC shareholders They are seeking the possibility of an independent chairman in order to determine if breaking up the bank would generate better returns. As cited in a proxy filing today April 7 , the plan would involve waiting for Dimon, the cur
stanley us rent chairman, to leave JPMC before moving forward with a plan to review the logistics of a breakup.According to a Bloomberg report, JPMC told shareholders to vote against these proposals. Earlier this year it was determined by the company t
