Posted on 09/16/2015 8:04:37 AM PDT by Hojczyk
Subway co-founder Fred DeLuca, who turned a sandwich shop he started as a teenager into the world's largest fast-food chain, died Monday evening. He was 67.
DeLuca's death came two years after Subway said he had been diagnosed with leukemia and was scaling back on his leadership role at the company. It also came just weeks after the 50th anniversary of Subway, which is known for its "Footlong" sandwiches and says it has more than 44,000 locations around the world.
The company traces its roots to 1965, when DeLuca opened a sandwich shop at the age of 17 to help pay for college. The idea came from a family friend, Peter Buck, who was co-founder and provided the $1,000 to start the business.
"I knew nothing about making sandwiches, nor the food industry," DeLuca later wrote in a book.
DeLuca and Buck opened their first store in Bridgeport, Connecticut under the name "Pete's Super Submarines," with the priciest sub selling for 69 cents. The name was changed to the snappier "Subway" in 1968, and the pair decided to fuel growth by franchising, or letting others open Subway stores in exchange for fees.
Subway, based in Milford, Connecticut, is privately held and doesn't publicly report its financial performance or executive pay packages. But this year, Forbes magazine pegged DeLuca's net worth at $3.5 billion, making him the 259th-richest individual in the United States.
(Excerpt) Read more at finance.yahoo.com ...
Ever read the fine print on the Subway posters while waiting in line? Subway’s corporate name is Doctor’s Associates, Inc.
Jared unavailable for comment.
I grew up in Wallingford, CT, home of Subway #2 (#1 is in Milford). While the current location is down the street from the original corner location at Rte 5 and Center Street, across from the train station, Rosa’s Deli is within yards of both locations, and is 100x better.
No longer hot and fresh.
If he can’t live past 67 with 3.5 BILLION dollars, what chance do the rest of us have? I am glad I retired at 65 last week to ride my bicycle on a trip to the alps. I’m not looking back!
Oldplayer
It’s still a heck of a story.
Cancer doesn’t care how much money you made.
Well, after it comes out of the microwave it's pretty hot. :)
I remember several years ago ordering a meatball hero at Subway and the Middle Eastern guy at the counter asked if I wanted lettuce and tomatoes on it.
Sounds like he lived the American dream. While his illness and untimely death is a sad book end to his life by most measures, he was a success and made the world a better place for thousands, if not millions.
At least at a subway you can watch your food getting made. If I was a cop that is where I would eat. Some fast food places, like someone else said, will spit in your food.
“Cancer doesn’t care how much money you made.”
More importantly, neither does God.
Oldplayer
What does that have to do with cancer?
Wasn’t he the one who not long ago commented on how if he were in the same situation today as a young man (when he started Subway) that because of Obama and the Democrats, it would be a lot more difficult to start an enterprise like Subway because of the taxes, Obamacare, and the overall stigma against working hard and becoming successful and wealthy as a result?
Does he have an alibi?
At least at a subway you can watch your food getting made. If I was a cop that is where I would eat. Some fast food places, like someone else said, will spit in your food.
lettuce and tomato on a meatball sub is about as bad as the Firemans sub joint that wanted to put mayonaisse on a hot pastrami. being from NYC I almost stroked out.
RIP.
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