In this file:
· Union claims Chipotle still plagued with food safety issues
· Billionaire Investor Bill Ackman Trims Stake In Chipotle, But Is Still Betting Big On Burritos With 5% Stake
Union claims Chipotle still plagued with food safety issues
The company says all employees are encouraged to anonymously report any violations
By Mark Huffman, ConsumerAffairs
A labor union representing restaurant workers has published a report accusing managers at Chipotle Mexican Grill of taking shortcuts that reduce food safety.
Local 32BJ of the Service Employees International Union (SEIU) said it interviewed “scores” of company employees for its report, “The Unsavory Side of Food With Integrity.” The report accuses the restaurant chain of giving “lip service” to reforms after several outbreaks of foodborne illness linked to restaurants in 2015 caused a public relations disaster.
In 2018, Chipotle announced that it would train all its employees on food safety practices. The company’s CEO issued a statement saying Chipotle “has a zero-tolerance policy for any violations of our stringent food safety standards.”
That followed an incident a few weeks earlier in which Chipotle temporarily closed an Ohio restaurant following customer reports of illness.
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Billionaire Investor Bill Ackman Trims Stake In Chipotle, But Is Still Betting Big On Burritos With 5% Stake
Sergei Klebnikov, Forbes
Feb 10, 2020
Topline: Billionaire and activist investor William “Bill” Ackman disclosed in a filing last Friday that his hedge fund, Pershing Square Capital Management, recently trimmed its stake in Chipotle Mexican Grill, though it still holds a sizable position and is betting big on the fast-casual burrito chain.
· According to an SEC filing late last week, Ackman’s Pershing Square sold almost $185 million worth of Chipotle stock—around 215,000 shares at a price of $860—on February 6 and 7.
· Despite trimming its stake in one of its best-performing stocks of recent years, Pershing still holds a sizable position of about 1.5 million Chipotle shares, amounting to a $1.3 billion stake or 5.4% of the company.
· Pershing Square...
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