The story of Red Lobster’s bankruptcy, as reported by CBS, is ultimately about inflation. But that lede gets buried a minute into the report, in the hopes that the viewer won’t notice at all.
Watch the blink-and-you’ll miss it reference to inflation, which came a full minute into the report: NIKKI BATISTE: In its bankruptcy filing, Red Lobster blamed failed or ill-advised strategic initiatives and increased competition within the restaurant industry. Red lobster’s downfall comes at a time when eating out is more expensive than ever, with restaurant prices climbing higher and faster than grocery costs. In an effort to bring back inflation-weary consumers, McDonald’s is planning to offer a $5 meal this summer, and Target has dropped prices on 5,000 items. JILL SCHLESINGER: If you are in the business of luring people into kind of, “have a little bit of splurge”, these are not the times where people feel […]
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