Tuesday, April 29, 2008

Church's Chicken Is Sharia?

I never liked Caribou Coffee, nor Starbucks, etal, but I love fried chicken. Church's has every right to do business as they see fit. I have every right to eat where I see fit. It won't be Church's.

Branching out, with limits
In many ways, the 2005 initial public offering for Caribou Coffee was like any other.

It contained information about the popular coffee chain's growth strategy, an industry overview and its financials.

But Page 16 of its prospectus may have left some would-be investors scratching their heads:

"Our compliance with Shari'ah principles may make it difficult for us to obtain financing and may limit the products we sell."

Arcapita's diverse holdings, which include Southland Log Homes, Cypress Communications, Church's Chicken and American Pad & Paper, show that a company with strict investment guidelines can succeed in the United States, the world's biggest --- albeit secular --- economy.
Arcapita Bank, founded in 1997 as First Islamic Investment Bank, had $2.3 billion in assets at the end of June.

I hope the Church's Chicken employee handbook doesn't mention sharia to resolve employee disputes. That could give a whole new meaning to chicken fingers.