Intellectual Property. Russell L. Parr

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Intellectual Property - Russell L. Parr


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heavily during games. The company reacted to Schnatter's statement by removing him as CEO on January 1, 2018.

      Papa John's International, Inc. operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark in the United States and internationally. It operates through five segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, International Operations, and All Others. The company also operates dine-in and delivery restaurants. As of December 31, 2017, it operated 5,199 Papa John's restaurants, which included 743 company-owned and 4,456 franchised restaurants. The company was founded by John Schnatter in 1984, after selling his car and borrowing money to start his first pizza place.

      In mid-January 2018, shares of Papa John's traded at $68.62 per share. As turmoil swirled over the comments by Schnatter and his removal as CEO and resignation from the board, the share price dropped to $38.94 by August 8, 2018; a 43% drop in only seven months. With 31.62 million shares outstanding, the $29.68 per share drop in value equaled a loss of $938 million.

       LES MOONVES AND SEXUAL HARASSMENT CHARGES COST INVESTORS $2 BILLION

      On July 24, 2018, CBS stock traded at $57.53. The first day of trading after The New Yorker article was published about inappropriate behavior by Moonves, share prices of CBS began to fall and by July 30, 2018, share prices dropped to $51.28, a loss of $6.25 per share. With 338.52 million shares outstanding, the per share drop of $6.25 equaled a loss in shareholder value of $2.1 billion.

       STEVE WYNN AND SEXUAL HARASSMENT CHARGES COST INVESTORS $4 BILLION

      In 1989, the grand opening of the Mirage Resort & Casino changed the Las Vegas Strip from glorified slot machine barns into a fabulous resort destination. The Mirage property was unprecedented in its size and upscale show offerings. This imaginative effort was the brainchild of Steve Wynn. In the prior history of Las Vegas, nothing like it had ever been seen before. From this exciting start, Steve Wynn built Wynn Resorts Ltd.

      Wynn Resorts, Ltd. develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, offering 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; two luxury hotel towers with a total of 1,008 guest rooms and suites; eight food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising two health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling. Its Wynn Palace segment had approximately 420,000 square feet of casino space offering 323 table games and 1,115 slot machines, private gaming salons, and sky casinos; a luxury hotel with a total of 1,706 guest rooms, suites, and villas; 11 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities, including a gondola ride, health club, spa, salon, and pool; and public attractions, such as a performance lake and floral art displays.

      At the beginning of January 2018, Wynn was a 75-year-old billionaire, chairman of Wynn Resorts, and working on developing a $2.6 billion resort in Massachusetts. By the beginning of February, Wynn was unemployed. Wynn's sexual harassment story is special because he personally was Wynn Resorts and it was him. Once the story of sexual harassment broke, things went downhill real fast.


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