« Invasion of the Zonies | Main | Kona Grill: Another One Bites The Dust »

July 29, 2008


Joe Jacari

"...(n)early half of property tax bills are going unpaid this year since Scottsdale's fake broke-ass residents can't afford to pay."

Is it really that high?

Even if it's 25%, that's really bad. But half?


If that's the case, you'll probably see authorities literally shaking people down for cash on the streets. Then again, I wouldn't be surprised.

Perhaps the whole friggen' fake town will fold into the dusky desert leaving only the true pioneers and Scottsdale natives to pick up the pieces and restore civility and gentility.


Mortage brokers in trouble


Frank Rumbauskas

AZ Republic reported 48% earlier this year..........

And the Scottsdale city council publicly stated in a meeting that they're hurting because sales tax revenues are WAY down due to a standstill in car sales at Scottsdale auto dealers.



Another one bites the dust: Buh Bye Kona Grill (Scottsdale based purveyor of overpriced yuppie food)

Scottsdale-based Kona Grill Inc. on Tuesday reported a second-quarter loss of $535,000, or 8 cents a share, and the company blamed the drop in profit on higher labor and operating costs and on fewer people dining out.

Same-store sales decreased 5.6 percent.

"Our second-quarter 2008 results reflect the challenging consumer environment which continues to affect both our industry and the economy in general," said Marcus Jundt, Kona Grill chief executive officer.

Kona's reported a second-quarter revenue increase of 4.5 percent, from $19.32 million to $20.18 million. Officials credited the opening of a new restaurant at SanTan Village in Gilbert for a substantial portion of the sales increases.

Kona Grill also has restaurants at Scottsdale Fashion Square, Chandler Fashion Center and 16 other locations across the country. Kona is expected to open three more restaurants - in north Phoenix, West Palm Beach, Fla., and Richmond, Va. - this year.

The company also revised its fiscal 2008 earnings forecast to sales of $80 million to $82 million and a net loss of $2.8 million to $3.8 million. It delayed plans to open a restaurant in New Jersey until early 2009.

"While we have lowered our outlook for the remainder of the year in view of current market conditions, we remain focused on superior execution at our restaurants, as well as managing operating costs," Jundt said.

The comments to this entry are closed.

Add to Google Reader or Homepage

Add to My AOL