Word: noncafeteria
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...success, President J. Herbert Gibbons, 53, characterizes it as "a cafeteria that thinks like a restaurant." He might have described it as a cafeteria that thinks like a conglomerate. Over the years, Morrison's has branched into fields ranging from coffeemaking to insurance, with the result that noncafeteria operations accounted for 27% of last year's profits of $1,885,-000. This week, in a $7,600,000 stock-swap deal, the company takes over Memphis-based Admiral Benbow Inn, Inc., which operates a chain of 15 restaurants and ten motels...
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