Carl Karcher, the founder, sold a lot of the stock after taking the company public (the SEC accused him of insider trading in 1988 and the settlement cost him a half-million in fines, with no admission of wrongdoing).Agree, Carl’s Jr. was so much better 30 years ago. What happened? It is basically a mix of McDonald’s and Burger King today. I guess it is just the standardization of fast food today. Too bad.
Without a controlling interest, he lost his position as CEO in a battle with the board of directors in 1993. He was 75 years old and unwilling to compromise on a lot of things. The changes came after that.
I’d disagree that it’s a mix of McDonalds and Burger King, though it has a menu item or two clearly aimed at each. It has its own taste, identifiable as Carl’s Jr. (I had my first meal there in 1964), but quality is inconsistent and has been since they threw Carl overboard.
