Friday, May 15, 2009

Kona Grill CEO Resigns, Shareholders Rejoice

Finally! Everybody has wanted the CEO gone for the last 1-2 years since Kona Grill (KONA) began underperforming. Whether this opens up KONA for a takeover by Mills Road (they offered $10 last year) or not will be seen soon enough, but it definitely can't hurt the performance of the company. KONA has a great concept, but bad management. Its yet to be seen whether this will turn change management b/c presumably the left overs are Jundt players. The new COO was hired by Jundt so while I'm much more bullish I'm still hesitant.

More later on KONA as the story develops.....

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