![]() ![]() The whole process can end up bankrupting both the shorts and the bulls. The price of the stock can collapse, leaving the bulls with a burdensome load of debt. Once the corner is completed and the shorts have covered their positions at the inflated price, little demand is left for the stock. Of course, creating a corner is risky for the bulls as well because it takes a lot of resources to buy up the float in the stock. The shorts have no choice but to buy the stock from the bulls at whatever price they demand. If the bulls can buy up the existing float, the stock is cornered. The bulls, on the other hand, can try and beat the shorts by forcing the price of the stock up, squeezing the shorts and forcing them to sell at a loss. In a bear raid, several shorts make a concerted effort to drive the price of a stock down so they can profit from the decline. When the stock declines in price, the shorts buy the shares back at a lower price, make a profit, and then return the stock to the person they borrowed it from. The goal of shorting a stock is to borrow shares from someone who owns them and sell them. ![]() Saunders became known as the home boy who faced off the financiers of Wall Street who were using a bear raid to try and profit from a decline in Piggly Wiggly stock. Clarence Saunders was generous, determined, stubborn, and well-known in Memphis. The corner became so prominent, that the whole affair became known as the Piggly Crisis. Unfortunately, in 1923, Saunders had lost control over his Piggly Wiggly stores.Ĭlarence Saunders also became part of the last stock corner on the New York Stock Exchange in 1923. By 1922, there were over 1,200 Piggly Wiggly Stores of which about 650 were owned by Saunders, and by 1932, there were 2,660 Piggly Wiggly stores with sales of $180 million. Saunders incorporated the Piggly Wiggly Stores Corp. Saunders patented the idea of self-service stores in 1917. Every item in the store had a price on it, another innovation, and Saunders provided shopping baskets so customers could take their items to a check-out stand in front. Each store had a turnstile at the entrance. Saunders opened up his first Piggly Wiggly store on Septemat 79 Jefferson Ave. This system later inspired Toyota to apply the same concept to automobiles which helped Toyota to control costs and conquer the globe. Saunders also developed a just-in-time delivery system to get food to his Piggly Wiggly stores. Saunders wanted to free customers from the tyranny of clerks by letting them do their own shopping. Light shields missing at display cases.Saunders was obsessed with the idea of efficiency, and thought that customers wasted a lot of time waiting on clerks. 6-202.11 Replace broken/missing light shields. Ceiling at area above meat cutting block has dirty build up. 6-501.12 Clean facilities (floors, walls, ceilings, fixtures, etc.) as often as necessary to maintain cleanliness. Repair wall at mop service basin, has large hole in wall. 6-101.11 Provide smooth, durable, nonabsorbent, easily cleanable floors, walls, and ceilings. Clean bottoms of reach in freezer at frozen display case. 4-602.13 Clean non food contact surfaces as often as necessary to prevent accumulation of residue. Chicken boxes on floor in walk in cooler. 3-305.11 Store food at least 6 inches above the floor. Raw beef stored on top of raw chicken at display case. Feb 15, 2012ģ-307.11 Provide separation between packaged raw animal products of different species. Observed food handler washing hands at the warewashing sink. 2-301.15 Wash hands in a handwashing sink or approved automatic handwashing facility. Mold build up on the plastic curtains (WI cooler). 3-307.11 Store raw animal foods with higher required cooking temperatures below those with lower required cooking temperatures. 3-307.11 Provide separation between packaged raw and ready to eat foods. To provide food thermometer (0F to 220F). ![]() Violation descriptions and comments Aug 4, 2011Ĥ-302.12 Provide appropriate, readily accessible thermometer for verifying food temperatures. Ventilation system(filters), clean, operated. Surface characteristics, indoor, outdoor: Maintained. Thermometers provided, accurate, conspicuous.įloors, walls, ceilings, attached equipment: clean. Handwashing facilities: Soap, towels/drying device, sign, use restrictions. Frequency Methods Refills.įood contamination prevented during storage, preparation, display, handling, other. Cooking surfaces, non-food contact surfaces: clean. ![]()
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