Good morning. Georgia-based equity company Roark Capital acquired Subway this week. The fast food chain is headquartered in Shelton, Connecticut. Roark attempted to purchase Subway for nearly $10 billion last year. Subway CEO John Chidsey said the acquisition will not change the company's leadership team, strategic focus or operating plans.
With the new acquisition, the Federal Trade Commission will investigate Roark for monopolizing the fast food sandwich market. The company also owns Arby’s, Jimmy John’s, McAlister’s Deli and Schlotzsky's. U.S. Sen. Richard Blumenthal (D-CT) supports the investigation. He called the acquisition an “unfair, anti-consumer monopoly” that may increase prices and limit consumer choices.
Here’s a bite-sized look at what else we are hearing:
Stony Brook students begin pro-Palestine demonstration. Around 35 students began a demonstration on the Long Island campus on Tuesday. Their demands include financial transparency from the school. School officials say the demonstration is not an encampment. Students compiled after being asked to break down tents on Wednesday after staying overnight.
Shelton couple sued over stabbing death of 17-year-old. The family of James McGrath has sued Ronald and Stacie Rich for $15 million. The Fairfield Prep student was stabbed to death at a party at the couple’s home in 2022. The McGraths will attempt to seize Rich’s personal property and bank accounts if the damages can not be paid. The lawsuit will have a remote status hearing on May 28.
Bridgeport-Port Jefferson Steamboat Company to add a new ferry this fall. This is the first addition to the Long Island Sound fleet in more than two decades. Steamboat officials say they hope to expand service and could offer new ventures outside of the normal route between Bridgeport, Connecticut and Port Jefferson on Long Island. The announcement comes as ticket prices are set to increase later this week.
Four aging Fairfield bridges to be rebuilt by 2028. The bridges include a commerce drive bridge over Ash Creek, a bridge over Pine Creek, and two over Sasco Brook. Officials say the bridges are in poor condition, with some around 100 years old. The projects are expected to cost the town and state over $15 million. Construction for the Ash Creek bridge is set for later this summer.
New Coast Guard Academy policy deals with alumni who commit crimes. The academy in New London plans to revoke honors and other recognitions from graduates with criminal records. The policy is in response to multiple allegations of sexual assault on campus from the 1980s and 2000s. The academy’s legal office will conduct official investigations of reported alleged misconduct.
Groton’s Gold Star Memorial Bridge project reaches its second phase. Two northbound lanes will be separated from three southbound lanes to allow oversized trucks to cross the bridge. The northbound Exit 85 ramp will be closed for a few months. The northbound Exit 86 ramp will be closed for two years. These developments are expected to begin in 2025.
Connecticut lawmakers pass a bill to prevent recycling scams. The bill prohibits people from returning cans and bottles if they were previously redeemed or purchased out of state. Lawmakers say it will help prevent individuals from crossing state lines to take advantage of Connecticut’s new 10-cent recyclable deposit.
