Why Companies Are Nervous About the Consumer
Summary
of Dine Brands Global, the parent of Applebee’s and IHOP restaurants, told analysts that lower-income consumers are “more aggressively managing their check, finding our value-oriented items.” • None Ramon Laguarta, PepsiCo’s C.E.O., was more blunt. The trip caps a week during which the president pitched his economic policies to business leaders to gain their support and reports emerged of some of Donald Trump’s promises to C.E.O.s to win their backing and donations. Biden hosted seven C.E.O.s at the White House on Tuesday, including Citi’s Jane Fraser, the Evercore founder Roger Altman and the United Airlines boss Scott Kirby to talk geopolitics and economics. Federal prosecutors on Friday have charged Andrew Wiederhorn, chairman of Fat Brands, the parent of the fast-food chains Fatburger, Johnny Rockets and Hot Dog on a Stick, with orchestrating a series of “sham” payments that netted him $47 million. Twenty years ago, he served a federal prison sentence on filing a false tax return and other charges associated with his running of Fog Cutter Capital, a holding company.