What can one say? I was one of those caught in the "bubble" of 2000. My Dad, may he rest in peace, told me in no uncertain terms to dump everything I had because it was hugely overvalued. What did he know? All he had been through was the Depression, when his parents lost 6 apartment buildings, and WWII where he won 3 medals. Why listen to him? Oh yeah that. Happy Father's Day and appreciate your Dads because they are likely a lot smarter than you. I lost a bundle by not listening to mine.

And now my friend Les Walgreen (yes that Walgreen) remarks that Facebook has already lost the equivalent of two whole Walgreen companies!! What is going on people? As a franchise expert I look and listen to franchisors every day struggling to keep their brands going and thriving. More importantly I look at their franchisees who struggle at the street level. What company that "might have future big revenues" can be worth $19 billion? Go buy a sandwich or a cookie from a nice franchisee and come back down to earth!

First Watch is growing far beyond its Florida roots. Last week Nation’s Restaurant News reported on the chain’s nationwide expansion plans including recently inked deals for Nashville and Milwaukee.

The country’s largest and fastest-growing, privately owned, daytime-only restaurant company in the United States plans to grow to 115 restaurants, with about a dozen franchised locations open and more than 30 in various stages of development by the end of 2012.

The chain of casual eateries, known best for inspiring menu items such as carrot cake pancakes and the signature, Crepeggs, has enjoyed positive same-store sales growth for 25 consecutive years. Total sales were $83 million in 2009 and $89 million in 2010. Average unit volume is approximately $1.2 million per year.

While annual sales for First Watch have continued to grow despite the recession, other concepts have been hit hard by a decline in the lunch daypart. Packaged Facts said that after a 4% decline in 2009 and another 3% decline in 2010, lunch daypart sales are set to pick up in 2011 which bodes well for the continued success of First Watch.