Must Read Money Stories For Friday, Oct. 9

by October 9, 2015

MRMSFarewell to a super chef. New Orleans chef Paul Prudhomme died Thursday at age 75. His obituary in the New Orleans Times-Picayune offers an insight into the chef’s business success. Prudhomme was one of the first chefs to gain a national reputation, based on his two famous dishes: blackened redfish and turduken (a turkey stuffed with a duck and a chicken). Long before other chefs did pop-up restaurants, Prudhomme opened short-term places in New York and San Francisco. People waited in line for hours to eat at his famed New Orleans spot, K-Paul’s Louisiana Kitchen, and his food products remain best-sellers.

Big game, big ratings. We’ve told you how the Chicago Cubs have racked up stellar TV ratings this season in their home town. Now, they’re national winners, too. Wednesday night’s National League wild card game between the Cubs and the Pittsburgh Pirates recorded the highest rating for a playoff game on cable TV since 2011, averaging 8.3 million viewers, according to Forbes. In Chicago, the game pulled the highest ratings since the White Sox played in the World Series in 2005. Social media impressions rose 100 percent from last year’s wild card games. The Cubs also picked up a key fan: President Obama, a South Sider who normally would support the Sox, says he’ll cheer for the Cubs regardless.

More Shake Shack shares. Forbes also reports that Shake Shack, the cult burger chain, says another 26 million shares could be up for sale in a secondary offering. Shake Shack went public last January, and saw its share price double from its initial public offering. It isn’t issuing new shares, but the secondary sale will allow investors to sell some of their holdings, including Danny Meyer, the restaurateur who founded the chain.

It’s Francis’ fault. Millions of people gathered in New York, Washington and Philadelphia to greet Pope Francis on his U.S. tour last month. What they didn’t do was eat. Cosi, the sandwich chain, says its sales dropped 4.5 percent in September, compared with last year. About 30 percent of Cosi’s company-owned stores are in the cities visited by Francis. Police blocked off many streets, keeping customer from reaching the shops, according to CBS New York.