H&H bagels are not bound for Fulton Street after all: negotiations to revive the iconic brand in a new location in Lower Manhattan has fallen through, both sides said.
On Friday, a lawyer for Randy Narod, the Long Island schmear-slinger who planned to open the new location at 125 Fulton Street, wrote in a letter to the lawyer for the H&H founder Helmer Toro that Mr. Narod had “agreed to immediately cease any intended use and registration” of the bagel chain’s vaunted name.
Mr. Toro had informed Mr. Narod that he would not be a part of Mr. Narod’s plans, a reversal of course from developments in July, when Mr. Toro and Mr. Narod had discussed a partnership in the new location.
The store would have combined Mr. Toro’s bagels and menu items from Mr. Narod’s Long Island Bagel Café chain, Mr. Narod said at the time.
But by the end of the month, Mr. Toro said in an interview, he had decided he no longer wanted to do business with Mr. Narod, citing what he called Mr. Narod’s “shady” behavior.
Chief among Mr. Toro’s complaints, he said, was Mr. Narod’s decision to register the name “Original H&H Bagels,” a slight variation on the name of Mr. Toro’s stores, with the U.S. Patent and Trademarks Office in May without telling Mr. Toro.
Mr. Toro said he was also upset that Mr. Narod told media outlets that Mr. Toro had agreed to become a consultant at the new location before any agreement had been finalized.
Mr. Narod, reached by phone on Friday, confirmed that Mr. Toro will not be a part of the Fulton Street restaurant. But notwithstanding the letter from his lawyer to Mr. Toro’s, Mr. Narod said he “cannot disclose” whether his new store would be called H&H Bagels.
“I don’t know what’s going on with my lawyers and his lawyers,” he said.
Scott Fisher, Mr. Narod’s lawyer, did not immediately respond to calls seeking comment.
In a telephone interview, Mr. Toro said that he now planned to resume discussions with two other investors interested in opening an H&H Bagels store elsewhere in the city. He would not say how close he was to reaching an agreement with either potential investor.
New York City has been without an H&H location since the Midtown factory closed earlier this year after several years of financial problems.
There’s a good chance if you’re reading this blog you know what the Fisker Karma is: a $108,000 car which in theory will provide users with an electric car with extra horsepower and torque that is stylish and would also be “good for the environment”. Needless to say, the market for this car is not very large. Earlier this year Fisker dropped its estimates for Karmas sold to a mere 10,000, which is still higher than the Chevy Volt. (http://green.autoblog.com/2012/02/02/fisker-lowering-2012-sales-estimate-to-10-000-units-expands-ava/)
But even if you do know what Fisker’s deal with Delaware was, you probably have not heard of A123, a green lithium-ion battery maker which received over $390 MILLION in taxpayer subsidies. In September 2009, the company (AONE) traded at a high of $25.77 a share. As of this writing, it’s down to 58 CENTS.
Senators John Kerry (D-MA), Debbie Stabenow (D-MI), Carl Levin (D-MI), Jeff Bingaman (D-NM), and Representatives Ed Markey (D-MA) and John Dingell (D-MI) all were big sponsors of the technology.
Sadly, A123 is merely the third “green” lithium-ion battery maker to go under this year. There is a big difference, though, with A123 from the others.
Earlier today, A123 announced they have sold a controlling share of the company to Wanxiang, a Chinese auto parts maker. This means the Waltham, Massachusetts based company could see its production moved to wherever Wanxiang thinks they can make the most profit for their value-such as China, a place not exactly known for its environmental quality and worker’s rights. Essentially the taxpayers (you and I) paid $390 million in subsidies for “jobs” and “green energy”, but will receive NONE of those benefits-while a Chinese company will have to bail us out (again)
But hey, it’s for the planet! After all, isn’t that what the environmental lobby thinks?