Meet The New Billionaire Whose Fortune Was Built On Big Macs And Barbacoa | World’s largest sovereign wealth fund loses $34 billion as all asset classes fall in third quarter | How the Yale Unions Took Over New Haven | McDonald's tried to buy Panera Bread, and 5 other reveals from founder Ron Shaich's book

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Meet The New Billionaire Whose Fortune Was Built On Big Macs And Barbacoa - Forbes

There may not be an American alive who hasn’t eaten something boiled, broiled, browned, barbecued or fried by OSI Group.

The privately held food manufacturer, with estimated 2022 revenue of $7.9 billion, started out by stamping fresh hamburger patties for McDonald’s on a 1955 handshake deal with the Golden Arches’ Ray Kroc. Over the years, OSI and its chief, Sheldon Lavin, expanded the relationship with McDonald’s to include just about McEverything. From there, it took on the world.

Today, OSI’s 65 plants in 18 countries can cook whatever meat a food company wants to sell. Though OSI has churned out DiGiorno frozen pizzas for Nestlé; steak, carnitas, barbacoa, sofritas, beans and salsas for Chipotle; Oscar Mayer wieners for Kraft Heinz; plant-based burgers for Impossible Foods; and truckloads of flatbreads, paninis, mac and cheese, soups, chili or just the meat that goes into the chili, McDonald’s has remained a loyal customer. In the process, OSI’s Shelly Lavin became a billionaire.

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World’s largest sovereign wealth fund loses $34 billion as all asset classes fall in third quarter - CNBC

Norway's $1.4 trillion sovereign wealth fund, the world's largest, on Tuesday reported losses of 2.1% in the third quarter, as all asset classes fell in value.

The so-called Government Pension Fund Global returned a loss of 374 billion Norwegian kroner ($34 billion) in the third quarter, citing a weaker three-month period, compared to the first half of the year.

The results were still 0.17 percentage points stronger than the return on the fund's benchmark index. The fund last reported a quarterly loss one year ago.

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How the Yale Unions Took Over New Haven - The New Yorker

The New Haven Green, a seventeenth-century park, is bordered on one side by courthouses and modest government offices, including the distinctive striped façade of New Haven’s city hall. On the opposite side are the lavish gothic buildings of Yale, the Ivy League institution with an endowment of forty billion dollars. Balancing the interests of both the town and the university falls in large part to New Haven’s Board of Alders, a council of thirty members. The board assembles twice a month, and typically there are many more alders in attendance than members of the public. But at a meeting in early February, on the second floor of city hall, the alders were outnumbered. The crowd crammed into the pews and stood along the back wall to hear the mayor, Justin Elicker, give his annual State of the City address.

Elicker, a spindly Yale alum in a midnight-blue suit, proclaimed that New Haven, having survived the pandemic downturn and a sixty-six-million-dollar budget deficit, was “outperforming the state at large and every other major city.” The recovery was real, though the median household still had an income of about forty-nine thousand dollars, and one in four residents lived at or below the federal poverty level. Yale, the city’s largest landowner, is a nonprofit and thus exempt from paying taxes on school property. (The total tax break for Yale and Yale New Haven Hospital would cover most of the city’s education budget.) In 1990, the university started to make an annual voluntary payment, usually a symbolic fraction of what it would otherwise owe. Elicker explained that things were beginning to change. In 2022, “we nearly doubled Yale University’s annual voluntary contribution—from thirteen million to twenty-three million,” he said. One cause, according to the mayor? “Decades of grassroots organizing by Unite Here.”

Unite Here is a North American labor union, with roots in the garment and hotel trades, that’s known for its willingness to strike. Its divisions in New Haven have grown to encompass some eight thousand people who work at Yale. The earliest effort began in 1941, with Local 35, when mechanics in the campus power plant organized and later fought to bring in custodial and dining-hall workers. In 1984, the union struck for ten weeks to support receptionists, librarians, and laboratory researchers in their formation of Local 34. Most recently, after several failed attempts stretching across more than three decades, graduate-student teachers finally won their own union, Local 33.

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McDonald's tried to buy Panera Bread, and 5 other reveals from founder Ron Shaich's book - CNBC

Panera Bread founder Ron Shaich uses his new book, "Know What Matters," to impart lessons learned from his decades in the restaurant business â and reveals some juicy details in the process.

Shaich's book charts his entrepreneurial journey, starting with the general store at Clark University he founded as a student and ending with his decision to sell Panera for $7.5 billion in 2017.

Along the way, Shaich turned Au Bon Pain from a nearly bankrupt bakery into a chain of bakery cafes, transformed the St. Louis Bread Company into fast-casual giant Panera, sold off Au Bon Pain and then turned Panera into a digital powerhouse that introduced free Wi-Fi, mobile and kiosk ordering and delivery years ahead of its rivals.

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