Business
Dave’s Hot Chicken investors bet on birria with new deal
The restaurant investors behind the success of Dave’s Hot Chicken are making a new nationwide bet on the next-hottest restaurant trend: birria.
Mike’s Red Tacos, a San Diego-based birria chain with just two locations, plans to announce on Tuesday a new franchising initiative that will build hundreds of restaurants across the U.S., with support from early-stage backers Bill Phelps and Andrew Feghali, CNBC can report.
Financial terms of their investment, which took place in early 2025, were not disclosed.
“We just saw that this was a brand and a concept that really had legs to it,” Phelps told CNBC. “And then the critical thing is, we brought down prospective franchisees. … Everyone gave it the thumbs up.”
Phelps said he had never heard of birria before Feghali introduced him to Mike’s.
Traditional birria is a beef or goat stew, slow cooked with spices and chiles to give the meat lots of flavor. Birria tacos, like those sold at Mike’s, use the slow-cooked meat as a filling and usually include a consomme on the side as a dip for the taco.
Once known as a regional Mexican food, birria now appears on 3.7% of U.S. menus, according to Datassential. That’s more than quadruple its menu penetration four years ago, based on the firm’s data, but there’s still a long runway before it reaches ubiquity.
Mexican-inspired fast-food brands such as Qdoba, El Pollo Loco, Del Taco and even Taco Bell have released their own versions of birria. And there’s at least 478 restaurant operators running birria-focused restaurants, according to Datassential.
Mike’s menu also includes burritos, loaded nachos and fries, and birria ramen.
“It appeals to a very broad range of guests — it’s not just your millennials and Gen Zs,” Phelps said, speaking about the customers in Mike’s Red Tacos restaurants. “There’s older people in the restaurant, there’s little kids, so it’s got a very, very broad appeal.”
Phelps co-founded Wetzel’s Pretzels in 1994 and became a founding investor in Blaze Pizza, the fast-casual pizza chain founded by Elise and Rick Wetzel. In 2019, Phelps joined Dave’s Hot Chicken as an investor and CEO, using franchising to expand the chain quickly to hundreds of restaurants worldwide. Last year, private equity firm Roark Capital bought a majority stake in Dave’s Hot Chicken in deal worth roughly $1 billion.
Feghali was one of the first franchisees of Dave’s Hot Chicken. He is also one of the nation’s largest Little Caesars operators.
Together, Feghali and Phelps founded Four Wall Partners, a restaurant franchising investment firm. In addition to being early-stage investors in Mike’s, they will act as advisors and members of the chain’s board.
Vincent Montanelli, who most recently served as chief executive of Wetzel’s, has joined Mike’s to serve as president.
Founded originally as a food truck five years ago, Mike’s Red Tacos opened its first brick-and-mortar location in 2022. Founder Mike Touma plans to open his third location in March; he’ll stay on with the company as a board member and franchisee of the chain’s San Diego locations.
“We put together a deal where [Touma is] going to keep the rights to his stores and future stores in San Diego, and then we’re going to franchise it across the rest of the U.S. and internationally,” Phelps said.
The new team plans to follow the established playbook used by Wetzel’s and Dave’s to grow Mike’s Red Tacos quickly.
“We’re going to be very aggressive where we grow with this, because we’ve seen that we can do that,” Phelps said.
The taco chain has already secured franchising development deals with multi-unit operators for more than 200 locations nationwide, from California to Texas to New England. Some of those franchised restaurants could open as soon as the end of the year.
Phelps anticipates stiff competition from national chains and local taco restaurants alike. However, he said he thinks that the chain’s simple menu, delicious food and an aggressive marketing strategy can help Mike’s overtake rivals.
“We think this can be a winner,” Phelps said.
Business
Tax Deadlines Accidentally Got Turned Off for Three Years. Now What?
WASHINGTON—Oops. So it turns out that Congress may have turned off tax-filing and payment deadlines for more than three years.
A federal court ruled late last year that the tax code’s relaxed rules for disaster victims—combined with presidential disaster declarations during the Covid-19 pandemic—paused required deadlines between Jan. 20, 2020 and July 10, 2023. The ruling means that the traditional April 15 payment date and other required deadlines didn’t actually matter during that period—if the ruling stands after possible appeals.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Business
Stocks pare losses, trade little changed as traders search for direction

Stocks pare losses, trade little changed as traders search for direction
Business
Common Pet Health Issues and When to Visit the Vet
Living with a pet means worrying. More than people admit. Pets get sick. They hide pain really well. They still eat. Still wag their tail. Act fine when they are not. That makes it harder for owners just trying to do the right thing.
Knowing common pet health issues can help you in different ways. It helps you decide if you can just wait a couple of days or if you really need to get on the phone with the vet. Making the right choice saves you a lot of money. It definitely saves you a ton of stress, too. And yeah, sometimes it even saves their life.
This article walks through the most common health problems pets face, and when to visit the vet. No big words. Just real stuff pet owners deal with.
Stomach Problems Happen a Lot
Stomach issues are very common in pets. Dogs eat things they should not. Cats get upset stomachs, too. Sometimes for no clear reason.
You might see vomiting, diarrhea, and less interest in food. Or all of it at once. It can be messy and stressful fast.
A one-time stomach issue can pass. Especially if your pet still drinks water and acts mostly normal. That happens. But if it keeps going, that’s when it becomes a problem.
Go to the vet if:
- Vomiting lasts more than a day
- Diarrhea won’t stop
- There is blood
- Your pet looks weak or tired
Stomach problems can be caused by parasites. Infections. Food allergies. Or something stuck inside. Waiting too long makes it worse.
For pet owners with emotional support animals, planning can help reduce stress. Knowing how to get ESA letter can save time and make managing care a bit easier when life is already hectic.
Skin and Fur Issues
Skin issues are easy to spot. But many people usually ignore scratching, licking, red spots, bald patches, and a smell that you can’t explain. Pets itch for reasons: fleas, allergies, dry skin, and sometimes stress.
If your pet scratches once in a while, fine. If they scratch all day and all night, that’s not fine.
Call the vet if:
- Skin looks raw or wet
- Hair keeps falling out
- Scratching causes wounds
- There is swelling or a smell
Catching it early makes things easier. Less treatment, less stress, and less discomfort for your pet. Ignoring it just drags things out, and no one wins that way.
Ear Infections Are Painful
Ear problems are common. Especially in dogs. Cats get them, too, just less often. Head shaking is a big sign. Scratching at the ears, redness, bad smell, and dark stuff inside. Ear infections don’t fix themselves. They get worse and more painful.
See the vet if:
- Your pet cries when its ears are touched
- There is discharge
- Head shaking doesn’t stop
- One ear looks worse than the other
Ignoring ear infections can lead to hearing loss. Infections can move deeper into the ear. Balance issues can start. Hearing loss is a real risk. This isn’t something to watch and wait on.
Teeth Problems Get Ignored Too Much
Dental issues sneak up on pets. Bad breath is usually the first sign. Owners joke about it. They shouldn’t. Other signs include yellow buildup on teeth, swollen gums, drooling, and dropping food while eating. Dental disease spreads bacteria into the bloodstream. It affects organs. Not just the mouth.
Vet visit needed if:
- Breath smells awful all the time
- Gums bleed
- Teeth look loose
- Eating becomes hard
Dental care feels expensive. No one likes that bill. But waiting always costs more. Pets don’t complain much. They keep eating. They keep wagging. That doesn’t mean they’re okay. Teeth problems hurt. They just suffer quietly.
Parasites Are More Than Annoying
Fleas, ticks, and worms are all common and dangerous. Fleas cause itching and skin infections. Ticks spread disease. Worms steal nutrients and weaken pets.
Signs to watch:
- Scratching nonstop
- Weight loss
- Scooting on the floor
- Pale gums
- Visible bugs
Go to the vet if:
- You see parasites
- Your pet seems weak
- Scratching won’t stop
- The stool looks strange
Preventative meds matter a lot. Skipping them feels harmless at the time. But it causes problems later. Bigger ones. Harder to fix.
Breathing Issues Are Serious
Coughing and sneezing happen. But breathing problems can turn serious fast. Watch for heavy breathing. Wheezing. Open-mouth breathing in cats. Blue gums. Pets should not struggle to breathe.
A vet visit is urgent if:
- Breathing looks hard
- Gums look pale or blue
- Pet collapses
- Coughing won’t stop
Breathing problems are serious. They can turn bad fast. Faster than people expect. This is not a wait-and-see situation.
Urinary Problems Sneak Up Fast
Urinary issues are common, especially in cats. Signs include frequent trips to the litter box. Crying while peeing. Accidents indoors. Blood in urine. Male cats can get blocked. That is an emergency.
Go to the vet right away if:
- Your pet can’t pee
- There is blood
- Your pet strains and cries
- Litter box visits increase suddenly
Urinary issues can turn dangerous fast. Blockages happen. Pressure builds. Waiting can lead to kidney failure or worse.
Joint Pain and Mobility Issues
Pets slow down with age. That’s normal. Pain is not. Arthritis affects dogs and cats. Cats hide it better. Signs include limping. Trouble jumping. Stiffness after sleep. Mood changes.
A vet visit is needed if:
- Limping lasts more than a day
- Movement causes pain
- Pet avoids stairs or play
- Behavior changes around touch
Pain management can improve life a lot. Even in older pets.
Behavior Changes Mean Something
When pets act differently, it usually means something is wrong. Aggression, hiding, crying at night, confusion, and sudden anxiety. Sometimes it’s a mental decline. Sometimes pain. Sometimes illness.
See the vet if:
- Personality changes suddenly
- The pet seems confused
- Anxiety appears out of nowhere
- Behavior problems don’t stop
Always rule out medical causes first. Behavioral issues can be signs of something serious. Don’t assume it’s “just them.” Getting it checked early makes treatment easier and less stressful for everyone.
Weight Issues Are Health Issues
Extra weight hurts pets. Thin pets can be sick too. Obesity causes joint pain. Diabetes develops. Heart problems appear. Obesity can shorten their lives. Sudden weight loss can mean serious illness.
Vet help is needed if:
- Weight changes fast
- Appetite disappears
- Weight won’t change despite diet
- The pet seems weak
Nutrition plans should be realistic. Not extreme. Crash diets don’t work for pets. Slow, steady, safe changes are the key. A healthy weight keeps pets happy and active longer.
Chronic Conditions Need Monitoring
Some pets live with long-term illness. Diabetes. Kidney disease. Heart problems. Seizures. These pets need regular checkups, blood work, and adjusted meds.
For owners with emotional support animals, planning health care matters. Housing and paperwork can add stress. Knowing what a Legitimate ESA letter is can help with stability. It’s not just about paperwork; it’s about making life smoother for you and your pet.
Emergency Signs You Should Never Ignore
Go to an emergency vet if you see:
- Seizures
- Collapse
- Severe bleeding
- Poison exposure
- Sudden paralysis
- Extreme pain
Don’t wait. Don’t Google for hours. Time matters.
Preventive Care Saves Trouble Later
Regular vet visits catch problems early. Vaccines. Blood tests. Dental checks. Parasite prevention. Preventive care costs less than emergency care. And causes less heartbreak.
Even healthy pets need checkups. Especially seniors. For budgeting and planning, understanding the ESA letter cost may help. Some owners with emotional support animals combine paperwork planning with vet visits and meds. That way, life is easier, and pets stay safe.
Final Thoughts
Pets rely on us to notice changes, small ones and quiet ones. Most serious problems start mildly. Then grow. If something feels off, it probably is. Trust that feeling. Call the vet. Ask questions. It’s okay.
Good pet care is not about perfection. It’s about paying attention. Showing up. Doing your best on tired days. That effort matters more than you think.
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Goldman Sachs: Excellent Business But Thin Margin Of Safety (NYSE:GS)
My name is Karandeep Kumar, and I am an investor based in Canada with a Master’s in Business Administration. My professional background is quite diverse, spanning the worlds of technology, marketing, and creative industries. This multidisciplinary experience gives me a unique vantage point when evaluating a company’s health, as I look beyond just the numbers to understand the “why” behind their business model. I am passionate about finance and investing, and I spend a considerable amount of time reading and understanding quarterly and annual reports. I believe that the best way to understand a company is to read the fine print that others might skip (especially the footnotes!). My personal strategy is a blend of value and growth. I am equally inspired by Benjamin Graham’s value investing principles and the forward-looking, unconventional approach of venture capital. On one hand, I look for solid companies that are currently “on sale” because of weak sentiment. On the other hand, I am always on the lookout for under-the-radar businesses where the real potential isn’t yet widely known (Trust me, there are a lot of undervalued gems in Canada!) My goal in writing for Seeking Alpha is simple: I aim to share my research and analysis with you, helping you make more informed investment decisions.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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