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Monday, nov 25
Tag:
Entrepreneurship
Business
Jersey Mike’s Sells Majority Stake To Blackstone, Chain's Founder Aims For 'Greater Heights'
Jersey Mike’s Subs, a Garden State icon that grew into a national sandwich powerhouse, is set to sell a majority stake to private equity giant Blackstone, officials said. The Manasquan-based restaurant chain has agreed to sell the stake in the company, Blackstone said in a news release on Tuesday, Nov. 19. Jersey Mike’s founder and CEO Peter Cancro will keep a significant equity share and continue leading the business. When he was 14 years old, Cancro began working at the original location in Point Pleasant that opened as Mike's Subs in 1958. At 17, he bought the restaurant in 1975 and…
Politics
Elon Musk, Vivek Ramaswamy Tapped To Head Trump's New Dept. Of Government Efficiency
President-Elect Donald Trump continues to fill his cabinet with loyalists and his biggest supporters following his sweeping victory in last week's election. He announced Tuesday, Nov. 12, that two billionaire former rivals turned allies, Elon Musk and Vivek Ramaswamy, would head up his new Department of Government Efficiency. Related: Trump Nominates NY Rep. Elise Stefanik As UN Ambassador The tech entrepreneur, age 53, and the 39-year-old Harvard and Yale Law grad will be tasked with major cuts in government spending. Trump called it "The Manhattan Project" for a new…
News
Billionaire CEO, NJ High School Dropout Leading SpaceX Mission 'Polaris Dawn'
A high school dropout from New Jersey who owns a multi-billion-dollar Pennsylvania tech firm is making history, again. Jared Isaacman, 41, the CEO of Shift4 Payments in Allentown, PA is the mission commander of SpaceX's mission Polaris Dawn, which launched into space on Tuesday morning, Sept. 10. Alongside Isaacman are Retired US Air Force Lt. Col Scott "Kidd" Potee, and two SpaceX specialists, Anna Menon and Sarah Gillis. You can read more about the mission on the SpaceX website here. View this post on Instagram A post shared by Po…
News
Inside 3,500-Square-Foot Gastropub Now Open In Bergen County
June 2023 was when Mike Madigan says he experienced the scariest moment of his life. The 44-year-old Wyckoff, NJ, dad had finally taken the leap on owning a bar and restaurant of his own and had everything he needed to move forward with the project. He had the lease. He had the architectural plans. And he had the approval from everyone he needed. All he needed was a construction company to agree to the work. "I spent a good three or four months calling construction companies and setting up appointments," said Madigan, a Burlington, MA native who by day works as a controller for Keller Wil…
Business
Storied Disappearing Dumont Donkey Is Hero Mascot At Builder's New Ice Cream Shop
It was 2017 and Matt Dagistanli was in the process of building the structure that stands today at 65 W. Madison Avenue in Dumont, when his donkey went missing. He wasn't a real donkey, of course, but a statue that Dagistanli and his former business partner had affectionately called Dumbo. Dagistanli grew quite fond of Dumbo, and wasn't ready to get rid of him at the turn of his career change. "I didn’t want to sell it or throw it away, so I took it home," said Dagistanli, 63, of Rutherford. "My wife said, 'You need to take this away.'" Dagistanli had nowhere to keep Dumbo except for …
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