{"id":48841,"date":"2017-10-26T05:55:10","date_gmt":"2017-10-26T05:55:10","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=48841"},"modified":"2017-10-26T05:55:10","modified_gmt":"2017-10-26T05:55:10","slug":"all-directors-shareholders-disappointed-by-chipotle-slide","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/all-directors-shareholders-disappointed-by-chipotle-slide.html","title":{"rendered":"All directors shareholders disappointed by Chipotle slide"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 14pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">All directors shareholders disappointed by Chipotle slide<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">All directors shareholders disappointed by Chipotle slide: Ackman\u2019s Pershing Square Capital Management holds a 10 percent stake, making the hedge fund the largest investor in the fast-casual burrito chain.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">\u201cThere is not a member of the board of directors; there is not a member of management; there is not a shareholder of the company who isn\u2019t disappointed with the progress of the company so far,\u201d Ackman said in an interview with Reuters in Boston.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Chipotle on Tuesday posted lower-than-expected earnings and said it would open fewer restaurants than previously planned over the coming year, news that sent its shares down 14.6 percent to close at $277.01 on the New York Stock Exchange.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Ackman declined further comment on the company. His fund\u2019s stake in Chipotle lost about $145 million in value in Wednesday\u2019s slide.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">The billionaire investor in May described Chipotle Chief Executive Steve Ells as \u201coutstanding.\u201d Ells was made sole chief executive in December when Pershing Square also received two board seats.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Ackman has a been involved with a number of companies where chief executives have lost their positions soon after he arrived on the scene including Canadian Pacific and Air Products.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Chipotle\u2019s sales swooned in November 2015 when the chain was linked to a multi-state E. coli outbreak and went into free fall in December 2016 after at least 80 Boston College students were sickened by norovirus traced to a Chipotle restaurant.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Ackman signaled that he was not worried about the safety of Chipotle\u2019s burritos, <\/span>tacos<span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\"> and salads, noting that he had eaten lunch at the chain on Wednesday.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">\u201cThe entire investment team is going to be eating Chipotle until the stock price is back at $500,\u201d he joked.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 8pt;color: #000000\">Source:http:\/\/www.reuters.com\/article\/us-hedgefunds-ackman-chipotle\/ackman-all-directors-shareholders-disappointed-by-chipotle-slide-idUSKBN1CV01D<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/all-directors-shareholders-disappointed-by-chipotle-slide.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>All directors shareholders disappointed by Chipotle slide All directors shareholders disappointed by Chipotle slide: Ackman\u2019s Pershing Square Capital Management holds a 10 percent stake, making the hedge fund the largest investor in the fast-casual burrito chain. \u201cThere is not a member of the board of directors; there is not a [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":48856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[84652,24258,24183],"class_list":["post-48841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-all-directors-shareholders-disappointed-by-chipotle-slide","tag-best-usa-latest-business-updates-and-news","tag-current-business-updates-in-usa"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/48841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=48841"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/48841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/48856"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=48841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=48841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=48841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}