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Source of Title Blog

You Want Fries with That?
by Robert Franco | 2010/08/18 |

After reaching the top of the title insurance industry, it appears that Fidelity National Financial (FNF) has decided to diversify.  While many of us in the title business have been tightening our belts, trying to make it through the nation's worst housing crisis since the Great Depression, Fidelity has been bargain shopping in bankruptcy courts.  Soon, they may be offering you a side of fries with your title policy.

Source of Title Blog ::

According to a press release, "Fidelity National Financial, Inc.  is a leading provider of title insurance, mortgage services, specialty insurance and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States."  Now they can add "burgers and fries" to their business line.

According to bankruptcy documents filed yesterday in U.S. bankruptcy court in Pittsburgh, Fidelity Newport, a subsidiary of FNF, was the successful bidder in an auction for Max & Erma's Restaurants.  Max & Erma's got its start in 1972 in Columbus, Ohio and has grown to serve more than 80 locations in several states. 

My first experience at a Max & Erma's was in Rochester Hills, Michigan when I was in high school.  They are known for their gourmet hamburgers - including the Garbage Burger

Garbage Burger - Everything but the kitchen sink - we stack it with hickory-smoked bacon, cheddar, Swiss, American, mozzarella, grilled onions, sautéed mushrooms, guacamole & marinara. Bursting at the bun with fantastic flavor!

While in law school, in Columbus, Ohio, I visited the original Max & Erma's location several times.  It was a favorite after-class destination for a late dinner and cold beer with a good friend of mine.

The amount of the bid hasn't been disclosed yet, but the other bidder, which was endorsed by Max & Erma's, had submitted a bid valued at $24.9 million. 

The restaurant business sounds like a strange choice for Fidelity, but it this isn't its first foray in to the market.  Last year, it bought Village Inn and Bakers Square restaurants, also out of bankruptcy.   

I guess the insurance business got a little boring for the execs at Fidelity. Selling burgers and fries should spice things up a bit. 




Rating: 

Categories: General Interest

577 words | 2379 views | 6 comments | log in or register to post a comment


Sling Trust

In your down time between cleaning the grill, if you could knock out a few title orders and grab a copy of a deed...

This is a great way to avoid outsourcing ot India:  outsource to burger slingers for even lower wages...

 
by William Pattison | 2010/08/19 | log in or register to post a reply

A Delicious Solution

Sounds to me like it's a yummy solution to diversifying.  Think of all the free burgers and fries!  Plus, you could always take your clients out to lunch for free...

- Julia Scott-Douglas, COO

 
by Kristine Bjorge | 2010/08/19 | log in or register to post a reply

Nothing new...

This is nothing new, Foley has owned the Carls Jr. chain for years and at he yearly meetings for the Title  side, they are always making references to the chain and how to do things like they do it.

 
by neil hethorn | 2010/08/23 | log in or register to post a reply

Diversify: A lesson we all need to learn (or keep in mind)

Why SHOULDN'T Fidelity -- a mammoth company -- find other sources of income?  Certainly, at this point in our economy, we should all be looking for other avenues of support.   If you just can't make it as an abstractor right now (or you are just scraping by), it is time to find other things to do that will bring in income.  I went into oil/gas.  Many of you have become mobile closing agents.  Why not turn a hobby into money?  Specialize in something and sell it on E-Bay.  Here in the midwest, there are dozens of ways and places to pick up things like old glassware, enamel wear, even old farm equipment that Bed & Breakfasts on the two coasts will snap up at 10 times what you paid for it locally.  How many times have you driven down a country road, seen a "place of junk" and wondered what treasures might be there?  Why not stop and find out?  (Hey, watch "American Pickers" on the History channel if you don't believe me when I say there's a fortune rusting in old barns.) 

We are all successful entrepreneurs -- use what you've learned being out here in the real world to do what Fidelity has done: make money in new ways.

 
by Alix Ott | 2010/08/23 | log in or register to post a reply

Good Principles of Investing in Your Firm's Future

Alix is certainly correct.  I've been advocating this for year as it is a fundamental principle of good investing:  diversify your portfolio. 

All of us do so much in research, that keeping our options open is the best way to avoid being hit hard by the recession.

Things that are far outside our field may be difficutl to incorporate into our daily business, so I don't adovcate becoming a blacksmith while doing title chains.

However, related research work in oil/gas/minerals, genealogy, process service, filing agent services, skip tracing work, paperwork filings, court case abstracting and historical work are all reasonable side-jobs to consider offering. 

 

 
by William Pattison | 2010/08/23 | log in or register to post a reply

Diversify: A lesson we all need to learn (or keep in mind)

One of the gals who does searches for me in NY sells jewlrey on ebay.

She goes to Estate sales and sometimes scores big time.

She is averaging $200-$500 or more a week, which isn't bad for a very very very part time gig, and she enjoys and has fun doing it.

 
by Jessica Talley | 2010/08/23 | log in or register to post a reply
Source of Title Blog

Robert A. FrancoThe focus of this blog will be on sharing my thoughts and concerns related to the small title agents and abstractors. The industry has changed dramatically over the past ten years and I believe that we are just seeing the beginning. As the evolution continues, what will become of the many small independent title professionals who have long been the cornerstone of the industry?

Robert A. Franco
SOURCE OF TITLE

 

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