Consumer >> Sector Roundtables >> July 15, 2002

Roundtable Forum: Restaurants

JOSEPH T. BUCKLEY, Senior Managing Director of Bear, Stearns & Co., follows the restaurant industry. He joined Bear, Stearns' research department in 1985 and has followed a number of consumer industries since that time, with a focus on the restaurant industry since 1987. Mr. Buckley has enjoyed recognition in a number of independent analyst polls and surveys, including those conducted by Institutional Investor, The Wall Street Journal, Greenwich Associates, and Reuters. Prior to joining Bear, Stearns & Co., he was a Research Analyst at Smith Barney, Raymond James and Standard & Poor's. Mr. Buckley holds both an MBA and BA from New York University, where he graduated magna cum laude with Phi Beta Kappa honors. He earned his CFA designation in 1982. Profile
JANICE L. MEYER is a Managing Director at Credit Suisse First Boston Equity Research Group, where she focuses on the restaurant sector. She joined the firm from Donaldson, Lufkin & Jenrette, which CSFB acquired in November 2000, where she was a Vice President in DLJ's Equity Research group. Prior to joining DLJ, she was at Prudential Securities from 1991 to 1996. Ms. Meyer has been named to the Institutional Investor All-America Research Team for restaurants 10 times. She has been ranked number one for four of the last eight years. Ms. Meyer, a Chartered Financial Analyst, is also a member of the New York Society of Security Analysts. She has a BS in Accounting from the State University of New York at Albany and an MBA in Finance from Northeastern University. Profile
Dennis I. Forst is a Managing Director and Equity Research Analyst with KeyBanc Capital Markets Inc. He has been with the company since 1997 and is responsible for all aspects of research of the gaming and lodging REIT industries. Mr. Forst was previously the Senior Vice President at Sutro & Co. Inc., and before that, he was the Senior Vice President, Corporate Research, with Security Pacific Merchant Bank. He also has held senior positions with Seidler Securities, Bateman Eichler, Caesars World, Inc., and Merrill Lynch. Mr. Forst is a member of the International Federation of Chartered Financial Analysts and the Los Angeles Society of Financial Analysts. He has been among The Wall Street Journal's top-ranked U.S. gaming Analysts for 12 of the 13 years the survey has been conducted, winning him a position in the Analysts Hall of Fame. He was also named a top boutique/regional Analyst by Institutional Investor and as the number one restaurant Analyst by Forbes. Mr. Forst holds both a bachelor's and a master's degree from the University of California, Los Angeles. Profile
BRYAN C. ELLIOT, a Senior Vice President at Raymond James & Associates, is an Analyst covering the restaurant sector. He was previously associated with TFP Capital Management, The Robinson-Humphrey Co. and Butcher & Singer. Mr. Elliot is an AIMR member, a CFA charter-holder, and received The Wall Street Journal's 'Best of the Street' award three times in six years of eligibility. He holds a BA in Economics from Dickinson College and an MBA in Finance and Economics from Cornell University. Profile
ANDREW M. BARISH is a Managing Director and Senior Research Analyst in the Consumer Group at Banc of America Securities LLC, where he follows the restaurant industry. He focuses on casual dining, specialty concepts and quick-service restaurants. He joined Banc of America Securities in March 2001 from Robertson Stephens, where he had served as a Restaurant Analyst since 1995. Prior to his focus on the restaurant industry, Mr. Barish served as an Environmental Services Analyst at Robertson Stephens from 1993 to 1995 and at Kidder Peabody from 1989 to 1993. He was named a 'Runner-Up' for the past three years (2002-2004) on the Institutional Investor All-America Research Team for his coverage of the restaurant sector. He was also ranked third overall in the 2002 Greenwich Research Associates Survey. Mr. Barish is a four-time Wall Street Journal All- Star and is a member of the New York Society of Security Analysts. He received a BS in Business Administration with a Finance emphasis from the University of Southern California. Profile
TWST: Joe, what has contributed most to the strength of the restaurant

industry and the performance of the restaurant stocks over the past six

to 12 months?

Mr. Buckley: The stocks are