Latin America Business News
Chipotle Overcomes Immigration Issues – Stock Rises 59% in 2011 & On Goldman’s Buy List
Photo: Chipotle a Stock Winner
Back in 2010 Chipotle Mexican Grill was audited by U.S. Immigration and Customs Enforcement (ICE) resulting in hundreds of workers being let go from the restaurant’s more than 1,000 locations.
It is believed Chipotle fired them as a means to avoid punishment from ICE and presumably most of the employees were undocumented.
Then in May, 2011 Immigration officials widened their probe into the burrito makers hiring practices. In spite of those immigration issues and the new ‘less-latino’ staff the burrito maker is rocking.
Chipotle’s stock rose 59% rose through 2011 and investment bankers Goldman Sachs just put it on its highly-praised ‘Conviction Buy List’.
Is a burrito a BURRITO if Mexican hands don’t touch it???