Posted on 09/16/2015 8:04:37 AM PDT by Hojczyk
Subway co-founder Fred DeLuca, who turned a sandwich shop he started as a teenager into the world's largest fast-food chain, died Monday evening. He was 67.
DeLuca's death came two years after Subway said he had been diagnosed with leukemia and was scaling back on his leadership role at the company. It also came just weeks after the 50th anniversary of Subway, which is known for its "Footlong" sandwiches and says it has more than 44,000 locations around the world.
The company traces its roots to 1965, when DeLuca opened a sandwich shop at the age of 17 to help pay for college. The idea came from a family friend, Peter Buck, who was co-founder and provided the $1,000 to start the business.
"I knew nothing about making sandwiches, nor the food industry," DeLuca later wrote in a book.
DeLuca and Buck opened their first store in Bridgeport, Connecticut under the name "Pete's Super Submarines," with the priciest sub selling for 69 cents. The name was changed to the snappier "Subway" in 1968, and the pair decided to fuel growth by franchising, or letting others open Subway stores in exchange for fees.
Subway, based in Milford, Connecticut, is privately held and doesn't publicly report its financial performance or executive pay packages. But this year, Forbes magazine pegged DeLuca's net worth at $3.5 billion, making him the 259th-richest individual in the United States.
(Excerpt) Read more at finance.yahoo.com ...
Medical 'science' is no where near as advanced as people think...
Agreed. It is much more of an art than a science. They don’t refer to it as practicing medicine for nothing!
One reason that Subway zoomed past McDonald’s (in terms of number of restaurants) is because the sub chain rarely respected territorial rights for franchise holders. In fact, it became common practice for the company to open a store a few blocks away when a local franchisee achieved exceptional sales and growth.
Subway ran more than a few of their franchisees out of business using that tactic.
Ever read the fine print on the Subway posters while waiting in line? Subway’s corporate name is Doctor’s Associates, Inc.
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I believe DeLuca wanted to fund his education to become a doctor.
Wasn’t he the one who not long ago commented on how if he were in the same situation today as a young man (when he started Subway) that because of Obama and the Democrats, it would be a lot more difficult to start an enterprise like Subway because of the taxes, Obamacare, and the overall stigma against working hard and becoming successful and wealthy as a result?
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Yes, but he started when LBJ was president, so there.
At the Whataburger here, you can watch the burger flipper dude dig down the backside of his pants. I went there once, saw that spectacle, walked out and never returned to any Whataburger. I was a secret shopper at Sonic until the gal who brought out my burger had black grunge under her finger nails. Now, I cook at home. Have a pot of homemade chicken noodle soup on the stove right now. If it has any nasties in it, at least they’re my nasties.
To be sure, the Jared scandal didn’t help prolong his days.
Haven’t seen him around town lately. I believe he’s on home detention, sentencing Nov 19.
without variety we wouldn’t have a horse race.
That I might actually like, because I always put mayo on a hot roast beef hero. I've been putting just mustard on pastrami and corned beef sandwiches, but I might oneday try adding a little mayo on a portion of the pastrami sub. I love both mayo and mustard on a toasted baloney sub.
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