Pulling steakhouse chain's fat from fire; For Zell and Melman's Chart House, rescue is on the menu.(Sam Zell; Richard Melman)(Brief Article)(Statistical Data Included)

From: Crain's Chicago Business | Date: June 5, 2000| Author: | Copyright information

Restaurant mogul Richard Melman can still recall vividly a May 1997 phone call from billionaire financier Sam Zell, who had just acquired a troubled California-based restaurant company, Chart House Enterprises Inc. Would Mr. Melman help fix the money-losing chain?

"I told Sam I didn't want to get involved with Chart House," says Mr. Melman, chairman of Chicago-based Lettuce Entertain You Enterprises Inc. "The project looked too difficult. It didn't seem clear to me how Chart House could be turned around."

But Mr. Zell, better known for buying office towers and apartment ...

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