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Chipotle Founder Reveals Why People Thought His Restaurant Wouldn’t Work

Chipotle Founder Reveals Why People Thought His Restaurant Wouldn’t Work

ASHLEY LUTZ JUL. 19, 2013, 3:13 PM 2,432 1

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Chipotle founder and CEO Steve Ells started an empire. But Ells said that many thought his idea of making burritos and tacos from a few fresh ingredients wouldn’t work. On an earnings conference call, Ells described the biggest criticism people had with his first restaurant: “I remember 20 years ago people said, ‘Steve, a menu with burritos and tacos, I mean, you’re going to have to add new stuff pretty soon,'” Ells told investors. “But it’s the combinations of things that people can make, not only for taste but for diet and people can vary enough over the years during their visits that really keeps Chipotle fresh.” Ells opened the first Chipotle in Denver, Colorado in 1993. Today the chain has more than 1,500 locations. And while Chipotle might have few ingredients on the menu, there are a mind-boggling number of combinations to be had. Our math found that 655,360 different options were possible from Chipotle’s current ingredients.

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A Buffett Fortune Fades in Brooklyn; Case of Othmer Gift to Ailing Hospital Is Cautionary Tale for Wealthy Donors; As early investors with Warren Buffett, Donald and Mildred Othmer quietly amassed a fortune that they believed would sustain their favorite charities for generations

July 19, 2013, 4:39 p.m. ET

A Buffett Fortune Fades in Brooklyn

Case of Othmer Gift to Ailing Hospital Is Cautionary Tale for Wealthy Donors

ANUPREETA DAS

As early investors with Warren Buffett, Donald and Mildred Othmer quietly amassed a fortune that they believed would sustain their favorite charities for generations. Among those organizations: Long Island College Hospital in Brooklyn, N.Y., for which the Othmers created a $135 million endowment in the 1990s, “to be held in perpetuity,” according to their wills.

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Mildred Topp Othmer and Donald Frederick Othmer cutting their wedding cake in Manhattan, November 1950. Read more of this post

It is getting easier to foresee wrongdoing and spot likely wrongdoers

Don’t even think about it

It is getting easier to foresee wrongdoing and spot likely wrongdoers

Jul 20th 2013 |From the print edition

THE meanest streets of Kent are to be found in little pink boxes. Or at least they are if you look at them through the crime-prediction software produced by an American company called PredPol. Places in the county east of London where a crime is likely on a given day show up on PredPol’s maps highlighted by pink squares 150 metres on a side. The predictions can be eerily good, according to Mark Johnson, a police analyst: “In the first box I visited we found a carving knife just lying in the road.” PredPol is one of a range of tools using better data, more finely crunched, to predict crime. They seem to promise better law-enforcement. But they also bring worries about privacy, and of justice systems run by machines not people. Read more of this post

Bruce Lee’s daughter recalls his energy as fans mark anniversary

Bruce Lee’s daughter recalls his energy as fans mark anniversary

Shannon Lee, daughter the late Kung Fu legend Bruce Lee, poses in front of a portrait of her father at the Hong Kong Heritage Museum

8:41am EDT

By Brian Yap

HONG KONG (Reuters) – The daughter of kung fu legend Bruce Lee spoke fondly on Friday of her father’s powerful presence and energy at a preview of an exhibition to mark the 40th anniversary of his death. Fans are gathering in the former British colony of Hong Kong for a series of commemorative events, including art gallery shows, exhibitions and even street graffiti. Many fans are urging the Hong Kong government to do more to honor the star of movies such as Enter The Dragon and Game Of Death. Shannon Lee was just four years old when her father died in Hong Kong from acute swelling of the brain at the age of 32, at the height of his career. Read more of this post

The latest research suggests humans are not warriors in their genes, after all

The latest research suggests humans are not warriors in their genes, after all

Jul 20th 2013 |From the print edition

EDWARD WILSON, the inventor of the field of sociobiology, once wrote that “war is embedded in our very nature”. This is a belief commonly held not just by sociobiologists but also by anthropologists and other students of human behaviour. They base it not only on the propensity of modern man to go to war with his neighbours (and, indeed, with people halfway around the world, given the chance) but also on observations of the way those who still live a pre-agricultural “hunter-gatherer” life behave. Add this to field studies of the sometimes violent behaviour of mankind’s closest living relative, the chimpanzee, and the idea that making war is somehow in humanity’s genes has seemed quite plausible. It has even been advanced as an explanation for the extreme levels of self- sacrificial altruism people sometimes display. (If a neighbouring tribe is coming to wipe yours out completely, then giving up your own life to save your fellows might actually make evolutionary sense.) Read more of this post

Make It Brew: The rise of craft breweries is less a story about business than one about taste

July 19, 2013, 3:55 p.m. ET

Make It Brew

The rise of craft breweries is less a story about business than one about taste.

MAX WATMAN

Do you remember where you were when you tasted your first Anchor Steam? If you do (and don’t worry, you’re not alone), then Tom Acitelli’s “The Audacity of Hops” is going to make you very happy. Mr. Acitelli’s exhaustive chronicle of the American beer revolution begins “on a breezy, warm day in August 1965,” when Fritz Maytag walked into the Old Spaghetti Factory “and ordered his usual beer: an Anchor Steam.” The brewery was about to close, and the next day, Fritz Maytag—inheritor of not just his great grandfather’s washing machine fortune, but his father’s blue cheese fortune, as well—bought 51% of the company, tweaked the recipe and lit a fire under the brew kettle of American beer that is still burning. For hop heads, this is a defining moment. It’s like reading about Henri Cartier-Bresson looking at Martin Munkácsi’s “Three Boys at Lake Tanganyika,” going out to a shop in Marseilles and finding a box with a curvy “L” printed on the side. Read more of this post

The 10 greatest white elephants

Thursday 18 July 2013 11.52 BST

The 10 greatest white elephants

In-Tempo-apartment-buildi-010

Benidorm’s In Tempo is the latest huge construction project to end up unused. Here are nine more examples from history

Benidorm’s In Tempo building. Photograph: intempobenidorm.com

Sometimes man’s optimism knows no bounds. In a bad way. Take yourself back to 2005, when people would’ve given themselves hernias laughing if you suggested the world was about to be plunged into a crisis that would make the Great Depression look puny. The European property market was at its frothiest, with developers throwing up luxury apartments and offices at the slightest excuse. In Spain they went a bit wilder than most. As a result, when the sun set of this fantasy in 2008, many cities found themselves lumbered with zombie projects. Read more of this post

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