Even a Stopped Clock is Right Twice a Day
Submitted by advisor on Thu, 02/01/2007 - 2:39am.
Jade Range was officially acquired today (Feb 19) by Middleby Corporation, roughly the 11th suitor that we had reported to have married Jade. How could we be so wrong?
Middleby, interestingly touts both the commercial line AND the residential line in their press release. Will Middleby keep residential? Smart money says no, even if they try:
- since Jade residential ovens, fridges, dishwashers stay with Whirlpool
- since distributors are not hanging around to find out what's next.
- since Middleby reports residential (cooking) as a $3 million business....which is in the ball park of a single McDonald's franchise.
We think that Middleby will fail with Jade residential if they go forward, but right now, while it still has that new car smell, we congratulate them on their purchase.
