00:00So pizza business very competitive for people in New York City a lot of people might not necessarily think of Pizza Hut as pizza but in most of the rest of the country it is and but it's struggling and Yum is doing pretty great otherwise so KFC especially Taco Bell doing really well and so CFO coming in and saying you know we really need to think about our choices here what are we going to do with this brand that we continue to try to turn around and it hasn't actually happened yet.
00:26Can I just say I was telling my team of younger people today when I was a boy and my parents would take us to Pizza Hut it was an event it was a dine in restaurant with a dedicated happy waitstaff and video games like a really cool place to go and delicious food is it possible that they go back to that or yeah and we actually had the KFC parent company CEO come in recently and talk about that sort of moment that sort of nostalgia of this
00:55generation that grew up with with that and can you actually get back to that. That's a very different value proposition than grab and go pizza or delivery pizza like that Domino's has really done a really good job at.
01:07And so for them to be able to offer that sort of experience it is going to take a slightly different business model or maybe a return to that old kind of business.
01:14Elsewhere in consumer goods most in cores also had earnings and those were disappointment. The forecast was in the lower range. Why I thought beer was supposed to be one of these things
01:23that regardless of what happens people will be drinking and maybe even drinking more if things are going poorly. So I think that was the conventional wisdom for decades if not centuries.
01:34And here we have in the last few years a really big sea change in consumption habits with beer. Younger people are not drinking beer a growing number to tie in from you know Madison earlier.
01:43A number of people are on these GLP ones. It suppresses the appetite but it also suppresses your need or want or desire for alcoholic beverages.
01:51And so they can say you know it's not having a material impact but you're seeing those bigger trends happening there.
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