Landry's Restaurants Chairman, President and CEO Tilman Fertitta has reduced his buyout offer to $21 a share. Fertitta, who owns 39 percent of the Houston company and is trying to take it private, submitted a bid of $23.50 a share in late January.
In a letter to Landry's, Fertitta said the credit market has deteriorated since his initial offer more than two months ago, making it much more expensive to obtain the debt financing required for… Read More
Harvest Select Catfish, of Uniontown, Ala., has appointed Randy Rhodes president, effective May 19.
A veteran of the catfish and seafood processing industry, Rhodes previously worked as president of national sales and marketing for Inland Seafood of Atlanta and as VP of sales and marketing at Southern Pride Catfish in Greensboro, Ala.
"I am delighted to be returning to the catfish industry," said Rhodes in a prepared statement today.… Read More
China's seafood exports to Japan are sliding as continuing health scares damage the industry's reputation.
But the country's freezing weather in February, the worst in 60 years, and the increasing value of its currency, the renminbi, are also blamed for a 30 percent fall in China's exports to Japan that month. Figures recently released by the Web site china-seafood.net show the volume of exports from China to Japan from January to February… Read More
A load of frozen snow crab heisted late last year when the truck driver disappeared en route to the Northeast was recovered last week, says Duane Hilghman, president and CEO of Service Transport, the Hurlock, Md., transportation broker that hired the driver.
Of the 550 cases of snow crab valued at $60,000, 520 cases were found. But the rest of the $145,000 truckload, including 405 cases of frozen shrimp and 289 cases of frozen tuna steaks,… Read More
Talk of a recession is all around us - in the media, at the office, on the train. Even the kid bagging your groceries knows the economy isn't performing all that well. On Friday, the U.S. Department of Labor reported that employers slashed 80,000 jobs last month, the most in five years, as the unemployment rate jumped from 4.8 percent to 5.1 percent, the highest in two-and-a-half years - yet another sign a recession is near. Just how concerned… Read More
Icelandic Group's board of directors will consider delisting the company's shares from Nasdaq OMX Nordic Exchange in Iceland at its April 18 annual meeting, the company announced in a press release on Friday.
Also at the annual meeting, Icelandic's board will submit a motion to shareholders to authorize the company to take out a four-year loan of up to â?¬41 million ($64.5 million).
Glitnir, Iceland's third largest bank, said last week… Read More
Sen. Ted Stevens (R-Alaska) re-emphasized the need to combat illegal, unreported and unregulated (IUU) fishing and to better protect Arctic fisheries at Thursday's Senate Commerce Committee hearing.
Last December, Stevens, the committee's vice chairman, crafted legislation requiring the National Oceanic and Atmospheric Administration to maintain a list of IUU fishing vessels worldwide and drafted a resolution calling for an end to the foreign… Read More
Landry's Restaurants announced on Wednesday that it hired Cowen and Co. to explore the possibility of a sale.
The New York equity research firm will help a special committee of Landry's board of directors evaluate a bid from Landry's President and CEO Tilman Fertitta to take the Houston company private.
In late January, Fertitta, who owns 39 percent of the company, offered to buy all outstanding shares at $23.50 a share.
Landry's, which… Read More
Hooters of Baltimore won Phillips Foods' Crab Cake Selling Contest, the company announced yesterday. First place and the title of Crab Cake Queen was awarded to Shelby Rackey, a member of the Hooters waitstaff. Rackey's prize was two plane tickets to any U.S. location and a $100 American Express gift card.
Second place went to Kristen Goodman of Waldorf, Md., and third place went to Keneeka Rodriguez of Fredericksburg, Va.
The contest… Read More
Retail chain Safeway has restricted its farmed salmon purchases from Chile due to ongoing problems with the infectious salmon anemia (ISA) virus that has rocked the country's aquaculture industry.
The Pleasanton, Calif.-based retailer, which operates 1,775 stores in the United States and Canada, is still buying salmon from areas that have not been hit by ISA, says company spokesman Brian Dowling, but is now looking to Canadian suppliers to… Read More