OTHER NEWS - Oct. 20, 1993

Karcher Deal Back On Track: Carl N. Karcher’s bid to generate cash by selling three Carl’s Jr. locations to Carl Karcher Enterprises apparently is back on track. Karcher, who owns five Carl’s Jr. restaurants that are leased to the company, wants to sell the properties for $1.9 million to help ease his personal financial crisis. Steven Fink, a spokesman for Carl Karcher, said the restaurant deal was derailed in late September, just before the Karcher Enterprises board forced Karcher out as chairman. Fink said the company tied the restaurant sale to a package that included a guaranteed salary, an ongoing role as chairman emeritus and a $16-million stock repurchase. Karcher rejected the entire package, Fink said, in part because the company wanted rights to vote Karcher’s remaining company stock.