Andy Puzder has an editorial in today’s Orange County Register. In it he celebrates dream of a farm boy from Ohio and his wife, Carl and Margaret Karcher, and looks to the future for today’s entrepreneurs.
Carl and Margaret bought that hot dog cart for $326. With strong personal conviction, they raised this imposing sum by getting a loan using their car as collateral and adding $15 Margaret had hidden in her purse. On that date, Carl, an Ohio native with an eighth-grade education, and Margaret, the eldest of 15 children, started a business that today employs over 72,000 people in the United States and owns or franchises over 3,150 restaurants in 42 states and 21 foreign countries under the Carl’s Jr. and Hardee’s brand names. The company was listed on the New York Stock Exchange until July 2010, when Apollo Global Management took the company private in a buyout valued at over $1 billion
Read the full story here.