PDA: Q&A Patrick M. O'Keefe

The E-Interview, Patrick M. O'Keefe, Founder and CEO, O'Keefe, Bloomfield Hills


DB: Where are you?
PO: At the Colony Hotel in Palm Beach, Fla., where I’m attending the 2018 Distressed Investing Summit hosted by M&A Advisor. Last night we had an opening night cocktail reception at Mar-a-Lago. Tonight, I’ll be receiving the 2018 M&A Advisor Leadership Award. Past winners have included Wilbur L. Ross and Steve Miller.

DB: How is the summit going?
PO: The presentations are geared to distressed investing in the turnaround industry. I like coming to the summit because you get the latest data of what’s going on in multiple industries; you hear about the winds of change that are coming but (you) might not normally see. There’s an international perspective, (and) you hear from professionals who are working in the trenches.

DB: What are the highlights?
PO: I’m learning about the effect that growing digital usage will have on physical stores, what that means for landlords, and how they may adapt in terms of future leases they sign for their centers. You also get information you normally might not think of, such as how important good weather is for restaurants. When there’s bad weather, people don’t go out to eat as much — so more restaurants are providing delivery service to boost sales as are gourmet markets. People are eating out more, but they want better food, smaller portions, and lower prices, so that’s slowing sales of entrees that are priced at $30 or more.

DB: How about labor trends?
PO: Everyone has issues finding and keeping workers. Some restaurants are finding that it’s better to hire younger people who have student aid to pay off, which is more important to them than health care. In general, they turn out to be better performers, too. You also see a lot of changeover at restaurants. The people in the front of the house typically stay, but behind the scenes, in the kitchen, there’s a lot of turnover.

Edit Module
Edit Module Edit Module
Edit ModuleShow Tags

Related Articles

PDA: Q&A Peter J. Ginopolis

The E-Interview Peter J. Ginopolis, Vice President, LSG Insurance Partners, Bloomfield Township

PDA: Q&A Kyle Lindenboom

The E-Interview Kyle Lindenboom, Senior Account Planner, Latcha + Associates, Farmington Hills

PDA Q&A: Van Conway, E-Interview

Interview with Founder and CEO of Van Conway and Partners in Birmingham.

PDA Q&A: Michael Angelo Caruso, E-Interview

Interview with owner of Edison House in Royal Oak.

PDA Q&A: Alan Jay Kaufman, E-Interview

Interview with CEO of H.W. Kaufman Financial Group in Farmington Hills.
Edit ModuleShow Tags

Most Popular

  1. Crown Enterprises in Warren Confirms Sale of Detroit’s Michigan Central Depot to Ford Motor Co.
    Matthew Moroun, chairman of Crown Enterprises Inc. in Warren, today announced that the company...
  2. Luxury Housing Developments Planned for Royal Oak, Birmingham
    Two new luxury housing developments are being built in Birmingham and Royal Oak. The Park West...
  3. Line of Flight
    A longer runway at Cherry Capital Airport in Traverse City, new golf courses and wineries,...
  4. Faurecia in Auburn Hills Partners With Chinese Automobile Manufacturer
    Auburn Hills’ Faurecia, an automotive technology company, today signed a strategic partnership...
  5. Jefferson Beach Marina in St. Clair Shores and Toledo Beach Marina in La Salle Acquired by Dallas Company
    Safe Harbor Marinas in Dallas has announced the acquisition of two marinas in Michigan –...
  6. Holland, Mich.’s JR Automation Acquires Auburn Hills’ Esys Automation
    JR Automation, a Holland, Mich.-based provider of intelligent automated manufacturing and...