Hello!

Welcome to OUT OF SCOPE, the C-Suite cheat sheet for the week ahead.

It’s the most wonderful time of the year— peak season for prestige TV. You’ve got White Lotus on Sundays, Severance on Fridays, and, most importantly, a fresh season of Love is Blind to get through. We’re now accepting all fan theories and dream match-ups.

**THE CHEAT SHEET

three things to bring up in your meetings this week:

1. Full-Throated Protest at Half-Dome. Yosemite National Park employees hung an upside-down U.S. flag on the park’s iconic El Capitan summit during the park’s annual “Firefall” event, drawing attention to the Trump administration’s cuts of 1,000 National Park Service jobs. The dramatic display protested the growing frustration over reduced staffing, which employees warn will lead to deteriorating park conditions, longer wait times, and potentially dangerous situations for visitors. While the administration has since pledged to restore some jobs and hire seasonal workers, the protest highlights the tension between federal cost-cutting and the preservation of public lands.

2. Changing tides in crypto. The SEC has decided to drop its high-profile lawsuit against Coinbase, the largest cryptocurrency exchange in the U.S. The lawsuit, filed in 2023, was emblematic of the broader regulatory crackdown on cryptocurrency under former SEC Chair Gary Gensler. In a clear signal to the rest of the industry, this dismissal represents a shift in regulatory posture under the Trump administration, which has adopted a much more crypto-friendly stance.

3. Industry greats. Film icons like Pamela Anderson and Demi Moore are making waves this awards season, not just for their performances on-screen but for their personal storytelling off-camera. Pam Anderson, originally typecast in one-dimensional, sexualized roles, has flipped the script and reclaimed beauty standards on red carpets, including at last night’s SAG Awards. Moore has also made her narrative as a type-cast bombshell work for her this season— and it might just result in an Academy Award win for her performance in The Substance.

**OUT OF OFFICE

one weekend news story in-depth: HOOTERS TANKS

Hooters is flirting with financial disaster. Reports indicate the Atlanta-based company is preparing to file for Chapter 11 bankruptcy within the next two months as it grapples with declining foot traffic and mounting debt.

The numbers don’t look great. With around 300 locations nationwide, Hooters has been working with law firm Ropes & Gray and turnaround consultants from Accordion Partners to restructure its operations and negotiate with creditors. In 2021, the chain raised $300 million using its assets, like franchise fees, as collateral for a loan popular among restaurant chains and similar businesses. But now, Hooters is struggling to keep up with its repayments, leading to a downgrade of its debt and raising serious concerns about its financial future.

Hooters’ woes are emblematic of the broader challenges facing the casual dining sector. Inflation, rising interest rates, and shifting consumer preferences have created a perfect storm for restaurants, with more than a dozen major chains or franchisees filing for bankruptcy in the past year alone. Competitors like TGI Fridays and Red Lobster have also faced significant financial headwinds, with the latter filing for bankruptcy in May 2024.

Despite its challenges, Hooters isn’t ready to hang up its mini skirt just yet. The financial strain has forced the closure of several locations, though the company insists it still has plans to expand both domestically and internationally. Whether or not you’re a patron, the story is a fascinating snapshot of consumer habits interacting with economic weirdness— a trend we’ll watch closely this year.

** POWER LUNCH

five quick consumption recs for the time between meetings:

1. How to lose an Oscar. Karla Sofia Gascon, star of Oscar frontrunner Emilia Perez, has gone from Best Actress contender to awards season footnote after a series of problematic X posts resurfaced, shaking up the awards race.

2. Canada vs. Trump… on Ice. The 4 Nations Cup served up a finals battle between the world’s two hockey superpowers, with Canada clinching a symbolic victory in the wake of continued economic pressure and threats of annexation.

3. The evolution of Texas BBQ. The evolution of Texas barbecue mirrors the cultural shifts of the state, as small-town traditions give way to urban “craft barbecue” with fancy plating and higher price points.

4. Farmers, refuting. The Times sums up the wonky development of farmers and environmental groups suing the U.S. Agriculture Department for deleting climate change data from its website.

5. Captain America crashes. This week, the latest and long-delayed entry in the Marvel Cinematic Universe’s box office numbers dropped 68%.

We’ll see you online and on LinkedIn. Thanks for reading!

HL