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Ron Saich, Panera Bread founder and co-CEO, on the economy and the company’s growth and success during the recession.
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Let's sit at a company that's doing well on this current economic environment especially in -- day like today but we found online and the Panera Bread company.
Has risen to the top of the S and -- consumer stocks over the last decade are very on Jeff Flock is that -- -- -- -- -- the company's founder and co CEO.
And his well recipe for success.
I love to do this -- mind these great minds it's like I'm getting an MBA from guys like -- -- Who founded panera.
And I got to get your take on the economy first why why is -- the street -- your stock take a look at your stock price.
It's it's great if you tripled your stock price in a recession.
-- did you do that well we invested in the customer experience we invested in growth.
We're contrarian win win the boom days were occurring we Harvard -- resources.
We took control of our balance sheet we've put on no debt that we built up cash when the recession came we put.
More into the customer experience and -- expanded our growth rate one of those things and we're looking at this panera cares this is opening of this is a nonprofit panera.
You pay what you can hear was this what you're talking about what this experience well this is a cafe of share nation box by the way you'd you don't have you don't have a -- -- we don't have those elsewhere no only here.
But this is a cafe of shared responsibility -- community cafe.
And we've done this is a gift to the community we put into a non profit -- its interest and our whole philosophy is we make a difference in the lives of our -- They support been there before work before we get away on the economy how do you feel about this economy right now we get continue to get bad news bad news well the economy is clearly strengthening relative to where was just a year ago I mean it's.
It's it's -- slowly -- but it but you know what.
As a business leader my view is I can't control the economy what I can control as -- they do within that economy.
Our mission has been to take -- its work for us.
It's gonna continue to work for us -- -- Founder co CEO chairman of the board.
All around good guy -- Panera Bread this street loves the stock.
And there's a lot of folks here in Chicago today who -- -- him to because coming here pay what you can eat what you want.
