Labor Board Overturns Ruling That Protected Fast-Food Workers

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The National Labor Relations Board, the federal government agency in charge of enforcing labor laws as they relate to unions and unfair labor practices, has overturned its previous ruling on the 2015 case known as Browning-Ferris Industries. The case centered on the concept of joint employers — namely, who is held responsible for how workers are treated when more than one entity controls or supervises their work.

Meet the Investors Funding the Fast-Casual Boom

In early October, Danny Meyer made a big announcement. It wasn’t about tipping, or another iteration of the Shake Shack hot chicken sandwich. This one was different. He would be entering the world of private finance, starting a $200 million investment fund, with stakes in reservation-making app Resy and the New York City-based Joe Coffee. His fund, Enlightened Hospitality Investments LP (EHI), now joins a group of newly formed investment funds cleverly eyeing (and investing in) restaurants.

It’s quite an about-face from the climate just a decade ago. “Ten years ago, investment took place much farther down in the growth cycle of a concept,” says Greg Golkin, who co-founded the Kitchen Fund in 2016 to invest in early-stage scalable restaurant concepts. “You would see private equity funds or strategics coming in when brands were at scale. If you had an early-stage restaurant concept, you had to source capital from high-net-worth friends and family, or from family offices [a more formal version of investment vehicle for high-net-worth private individuals]. There was no strategic capital in the space early on.”

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