Krystal rings in the New Year with Hangover Krystal

It's been quite a year, and by popular demand, Hangover Krystal is returning to satisfy guests as they bid farewell to 2020. This popular twist on the classic Krystal features a steamed bun, patty, cheese, onion, bacon and a fresh-cracked fried egg.

"Krystal is well known as the go-to remedy after a night of overindulgence," says Angela Johnson, vice president of marketing for Krystal, which operates more than two dozen restaurants in the Chattanooga area where it began in 1932. "After the ups and downs of 2020, the Hangover Krystal, with its fresh-cracked fried egg, is sure to be the perfect cure after New Year's celebrations."

The fast food chain's Hangover Krystal returns to menus at all locations on Monday, Dec. 28 and will be available for $1.69 all day during breakfast, lunch, dinner and late night. On New Year's Eve and New Year's Day, participating restaurants will be open 24 hours and serving Hangover Krystals. Hangover Krystals also will be available as a meal with two Hangover Krystals and small tots.


China urges U.S. to back off of stocks

China's government on Monday called on Washington not to enforce a measure that might expel Chinese companies from U.S. stock exchanges if they fail American government audits.

The law, signed Friday by President Donald Trump, is a response to complaints Chinese companies were failing to comply with stricter U.S. government oversight imposed following the 2008 global financial crisis. It applies to companies from any country but sponsors cited complaints Beijing was blocking American regulators from reviewing the work of auditors for U.S.-traded Chinese companies.

The Foreign Ministry complained U.S. authorities disregarded efforts by Chinese regulators to supervise corporate audits.

"We urge the U.S. not to implement the discriminatory provisions in the law concerning China" and "stop the wrong practice of politicizing securities supervision," said a ministry spokesman, Wang Wenbin.

The law would bar companies from trading shares on U.S. exchanges if they fail to comply with an audit by the U.S. Public Companies Accounting Oversight Board for three straight years.

Chinese corporate giants including Alibaba Group and oil producer PetroChina Ltd. have raised billions of dollars from U.S. investors. Companies increasingly are pursuing listings on exchanges in China or Hong Kong but still want exposure to Western investors.


Bi-Lo stores sold as brand is dropped

Two Independent Piggly Wiggly store owners, with the support of C&S Wholesale Grocers, Inc. have agreed to buy Bi-Lo grocery stories in Pooler, Georgia, and in Lexington, South Carolina, from Southeastern Grocers, Inc., which owns the Bi-Lo franchise.

The purchase is part of a series of transactions for Southeastern Grocers to to divest of the Bi-Lo banner, which was announced in June. Piggly Wiggly stores in South Carolina and Southeast Georgia, which are independently owned and operated, are supported and supplied by C&S Wholesale Grocers.

"Our Independent Owners are excited to grow their existing store footprint and expand the Piggly Wiggly brand in the Southeast," said John Owens, vice president and Southeast General Manager for C&S Wholesale Grocers.

The transactions are expected to close in mid-January 2021 and will expand the C&S Wholesale Grocers franchisee to a total of 55 Piggly Wiggly locations in South Carolina and Southeast Georgia.

Food City previously acquired 29 Bi-Lo stores in the Chattanooga area in 2015.


Walt Disney names new studio head

Walt Disney Co. veteran Alan Bergman has been named chairman of Disney Studios, the company said Monday. Bergman will be succeeding Alan Horn, who will remain chief creative officer. Horn and Bergman have been operating as co-chairs since May 2019.

"The Walt Disney Studios' achievements under the leadership of Alan Horn and Alan Bergman have been nothing short of extraordinary," said Bob Chapek, Walt Disney Co. CEO, in a statement. "Having worked closely for years with Alan Bergman, an exceptional leader and proven executive, I couldn't be more pleased to name him as Chairman."

The position involves overseeing everything from creative and operations to production and marketing for all Disney Studios content from its myriad brands, including Disney Animation, Pixar, Marvel, Lucasfilm and 20th Century Studios. The heads of each studio, from Kevin Feige to Kathleen Kennedy, will report to Horn and Bergman.

Bergman wlll assume the position officially on Jan. 1. Bergman has worked at Disney for 24 years and served as president of Walt Disney Studios from 2005 to 2019, helping to integrate Pixar, Lucasfilm, Marvel and Twenty-First Century Fox into the Disney stable of brands.

Both Horn and Bergman will report to Chapek, who took over from longtime CEO Bob Iger in February.

— Compiled by Dave Flessner