maria: you took shake shack public. what was behind that decision?it public, a lot of people wanted in on that deal. it did very well. why that company and you don't have any others that you decided to take public? >> well, the reason that we took shake shack public was that we needed growth capital at that very, very moment, and we looked at the various alternatives. at that point shake shack had had exactly one infusion of private equity, capital, and it was a $20 million -- i think it was about a $20 million investment. and the team running shake shack led by an exceptional ceo made that investment last right up til the point that we had the ipo. but that was not going to, that was not going to fund the type of growth that we wanted at shake shack. and by going public in 2015, it also created a way to compensate our staff members and to -- maria: which is so important. >> it is so important. our banker said they had never seen a company that had asked for a directed share program for 100% of their employees. so we had hourly workers at shake shack

have a second shake shack for five years.takes stakes in compensates i want to ask you about you took shake shack public what was the decision behind taking shake shack public, starting to monetize, some of these great businesses within the overall business. >> i think whether you go public or take money from a private equity fund or a loan from bank one way or the other you are raising money shake shack decided at that point, that we really did want to ratchet up the escalation of the business, the scaling of the business. and we also wanted to create a currency so he we could reward employees been there a long time when shake shack went public, one hundred percent of all managers got stock options, one hundred percent of all employees including hourly employees were comifb opportunity to purchase stock at $21, the amount of money wealth that those employees were able to create, buying homes for the first time, paying off college loans. >> has to make you feel so good. >> would we never could have done that as private compan

shake shack is in the 15th year.2009 when we had two restaurants we made a naive and brilliant decision to go international our seventh shack was in dubai we opened this first one in shanghai i got back from the philippines where people were camped out overnight. we were in singapore we were near the airport and next week i go to mexico to launch there's something about this brand that has transcended borders. even at our relatively small size we're a pretty small company. >> could it be the shakes and the hamburgers >> we sell the most massive appealed product in the world. the hamburger. we didn't invent it and we won't be the last ones to make a great one, but we do it in a way that people want to take out their fine and take a picture. >> you don't do that much marketing, you do viral marketing. >> very little paid advertising. i think we have always said, you know, we stand for something good we were born in new york city as a fine dining restaurant company and we just apply the same ethos. >> when you go halfwa

, 77 price target, i'm in that camp there >> shake shack >> thank you, brian. >> by the way, thats it for us here on "fast money." >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you some money my job isn't just to entertain you but educate you. call me at 1800-743-cnbc or tweet me at cramer i say it over and over and over again, no matter how muc

shake shack. reality show for $400. allison. - what is "survivor"? - that's the show.lations for $200. allison. - what is "brother"? - correct. foreign relations, $400. allison. - what is a grandmother? - good. order in the food court, $200. brendan. - what is guacamole? - right. reality show, $800. brendan. - what is "top chef"? - right. reality show for $600. brendan. - what is "the bachelor"? - right. reality show for $1,000. brendan. - what is "wheel of fortune"? - no. steven. - what is "press your luck"? - that's it. game show, $200. allison. what is "the price is right"? - yes. - it's harbor day! -- $400. allison. - what is the "beagle"? - good. now the last clue... brendan. - what is new york harbor? - yes, the statue of liberty. you're at $10,600. the lead is yours. steven, though, goes first when we come back to start the double jeopardy! round. [ applause ] ♪ a van that changed us and chips forever. so thanks, keeper of the keys for a chance to chase organic honey, barrel-aged bourbon and mouth-puckering pepperoncini. because of that van and because of everyb

. >> shake shack, 77 price target, i'm in that camp there >> shake shack >> thank you, brian. >> by the way, that does it for us here on "fast money." >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you some money my job isn't just to entertain you but educate you. call me at 1800-743-cnbc or tweet me at cramer i say it over and over and over again, no matter how much you make love of stock, no matter how you like the underlying company, if the rules say sell it, you sell it. one thing i've learned in my investing career no matter how much you might believe in something, you violate the rules of the road at your own parol but what in the heck do these rules come from? it's not like they were handed down from one high and carved into stone tablets not like the laws of physics, you can't deduce them from serving and gravity.

we love shake shack in our house too. >>> a car smashing through glass hitting a group of people inside florida business. one person was trapped underneath the car another was pinned to the car. all of them are expected to be okay. the driver told investigators she meant to hit the brake but pressed the gas pedal instea police say she will not face any charges. moment terrifying caught on cama. teenager was able to catch that toddler who fell from a second floor window in turkey. the 2-year-old girl survived without any injuries. local media says the toddler approached the open window of the apartment while her mother was coking in the kitchen. thank goodness! >> you can't leave windows open a i toddler who exploring. my goodness. the fact he was there and looked up just in time. >> just in time. >> wow. >> that is a miracle in my book. my goodness. >> neighbor of the year! >> exactly>> he humidity is creeping up, chuck bell. >> yeah. today will probably be our last day before it gets back to the swamp around here as is so often to the case as we get closer to july and august. d.c., sum

shake shack is testing out a four-day workweek with managers to give flexibility. it's also about retention. chipotle says more than 80% of its general managers are home grown, and last year it promoted over 13,000 employees. benefits included bonuses and tuition reimbursement. starbucks offers full tuition as far as college tuition and paid leave and stock options for eligible workers some franchisees are working on training to keep those on board. the dunkin' donuts locations built a facility dedicated to training and putting an orientation program into place. >> when you look at turnover within the industry traditionally, it's well over 100% we were not satisfied with that as an organization and tried to take a very broad, strategic look at what things we could do to improve our training, improve our workplace culture, and those are the things i think now that we're seeing with a lowe turnover percentage that are really having an effect for us. >> reporter: the group says it's been a success after turnover fell dramatically last year and in this labor market han

disclose who its donors are but has been known to be supported by restaurants and food company shake shack no intention of adding beyond meat burgers to the menu right now is the stock turning into dead meat >> oh, snap. >> that was overdone. >> yes, but, see, it is somewhat disingenius for me to say it because at $100 i was telling people to get out at half their position if they were fortunate enough to buy it around the ipo. it raced up to 200 i think it is ridiculous the stock is here, there should be significant down side. you get a couple of upgrades next week and you see how volatile it is. >> reproductive health, guys. >> extrusion and hexene. >> it doesn't sound good at all. i think you have a dynamic where people don't need to rush into the brand. every major food company -- >> like tyson said it would be in there. >> like question like tyson, heinz craft, people making hot dogs and hamburgers for a living should be making them and taking notes of the side effects there. it doesn't make any sense. >> i know when somebody comes out and says this product is really, really bad and m

it does have competitions with shake shack and five guys expanding across the country.k at your dollars and cents. >>> the president is blasting the new york times for publishing a story about the united states ramping up efforts to hack into russia's power grid. they say it is all part of an attempt to combat russia's interference in the united states. the president that the report is not true. the time to standing by the story. the secretary of state was asked about the story during an appearance yesterday on fox news sunday. >> i've seen the story. i don't have anything to say, i don't talk about intelligence. the president has been crystal- clear, we are going to do everything we can to prevent any country from interfering in any election in the united states. . >> sources told them it is possible the president had not been briefed. the report also said officials are examining how russia may launch its own cyber attack on power grids right here in the us. >>> moviegoers may experience franchise fatigue as a result of the weekends box office reveal pretty unimpressiv

shake shack is expanding around the world adding 36 to 40 new restaurants this year. they could add even more if they could get the talent. i sat down with its ceo and asked about the fight for workers. >> the fight for talent is fierce. i've never seen it be harder or more expensive in my whole career in the restaurant business. so you have to do a number of things. you have to create a place where people believe in, an ethos that team members want to work for. it has to be comfortable, it has to be flexible. it has to do things like the four day work week. it's important to be diverse, inclusive. that's what makes the best teams and the place people want to stay. >> the 4 day 40 hour work week that you started. you're trying it out. how's it going? >> i grew up in the restaurant business since i was 13. the days of the restaurant business have been you work really hard, you're never home, you work 6, 7 days a week, 12, 14 hour days. lately we've started challenging that notion and in some of our west coast shacks we've started testing a 4 day work week and for a tea

the ceo of shake shack said they were looking at four-day workweeks to make it easier for employees becauseou want to retain the best talent. >>> "early start" continues right now. >>> there's been discussion about an appearance before congress. any testimony from this office would not go beyond our report. >> we'll find out. robert mueller will testify publicly next month. all it took was two subpoenas from house the democrats. >>> this heartbreaking and gut wrenching image a powerful symbol of the border crisis. the house overnight passing a bill including new standards to care for kids at the border.

play golf, and i was a vegan but they were going to fire me because i was too skinny so i ran the shake shack the job. it's a great job, a fun job. i can't imagine doing anything else and being bored at home, sitting around, waiting to come home from eight shows a week. easier for me to come home from location. i got back from cro croatia, hag a ball all over croatia. and i like gun movies. so it's not like i have to punch people and learn, you know, martial arts moves. i just stand back and go like that. it's kind of fun. ( laughter ) yeah. >> stephen: samuel, so good to see you again. thanks for being here. >> thanks for having me. >> stephen: i look forward to "odd couple." >> broadway, 2020. >> stephen: shaft is in theaters this friday! samuel l. jackson, everybody! we'll be right back with former secretary of defense ash carter! ( cheers and applause ) ( band playing ) not even our competitor's best battery can match the power of energizer. because energizer ultimate lithium is the longest lasting aa battery in the world. [confetti cannon popping] energizer. backed by science. matched by

i'll get back to you all. >> i can help you because i had shake shack last night, and it is good.s it, guys. >> thank you. >>> we move on to our "gma" cover story. an exclusive one-on-one with pop superstar and five-time grammy winner christina aguilera as she kicks off her residency in las vegas. she's sharing new details about motherhood and her music. adrienne bankert sat down -- i cannot believe i missed you. i was there in las vegas this weekend to see so sleep i can't wait to see what you did with christina. good morning. >> reporter: good morning to you, robin. good morning to everybody again. vegas was packed this weekend. grammy award winner christina aguilera has had a life and a career many would envy. she's also had tumultuous times beginning with her childhood and that's why she's giving back to domestic violence victims and opening up about creating a safe space and connection at her concerts. she's one of the world's best-selling artists ever. ♪ i'm a genie in a bottle ♪ lady marmalade >> reporter: the singer/songwriter and actress performing her most popular hits a

the ceo of shake shack said they were looking at four-day workweeks to make it easier for employees because you want to retain the best talent. >>> "early start" continues right now. >>> there's been discussion about an appearance before congress. any testimony from this office would not go beyond our report. >> we'll find out. robert mueller will testify publicly next month. all it took was two subpoenas from house the democrats. >>> this heartbreaking and gut wrenching image a powerful symbol of the border crisis. the house overnight passing a bill including new standards to care for kids at the border. >> it's finally here. the first 2020 democratic debate is tonight. will the candidates g after each other or the president. >> and breaking moments ago, secret talks between the u.s. and north korea for a third summit just months after those talks collapsed. good morning, everyone. welcome to "early start." i'm christine romans. >> and i'm dave briggs. it's 5:00 a.m. in the east. we begin with major news. robert mueller briagreeing to testify in open session on july 17th after house democr

competitors including shake shack have been promoting various use of fresh, not frozen beef since they voted to tax people who refuse to buy health insurance, it is bringing back president obama's affordable care act that republicans eliminated. the state assembly and senate approved yesterday, sending it to the governor's office. governor newsom expected to sign it since he proposed the tax in january. by the way, massachusetts, new jersey, vermont and washington dc are the other states that currently penalize people who do not buy health insurance.>>> thank you. walmart now finding a way to fight shoplifting by using artificial intelligence. they are tracking theft, scanning errors, and fraud, the system notifies checkout attendance when they detect a problem. walmart says, it has seen a drop in theft at stores since these cameras were first installed.>>> several cars in san jose damaged after a big shootout, we are at the scene in san jose as imitators try to figure out what led up to all of the gunfire. >>> plus, construction workers exploited in silicon valley, up next, how san jo

you reached out to companies asking for their most successful performers from goldman sachs to shake shackd figure out what your secret sauce is what was their reaction? >> normally i write about gdp and unemployment numbers, but i think there's some changes in the economy that are tied to these changes in the corporate world. so i go to microsoft or ge or goldman sachs and say, okay, how does it work here in the 21st century? what does it take to thrive here? i think they were initially, well, i don't know about that but i fe intse or lot of people. >> so there are lessons in your book working for big corporations. are there takeaways f people who are not working in an office environment? >> yeah, we're not all going to work at goldman sachs or google, but i think these lessons apply across the board. you know, this idea of adaptability, of understanding how you can drive technological change, not be a victim of technological change, that's true whether you're in the executive suite or on the factory floor. >> whether you shower before work or after. >> walmart has been raising wages late

i don't know if you remember when shake shack had the ipo, arguably one of the best burger brands inwhich we were in on the ipo, right? stuart: i've got one more question about delivery. >> yes. stuart: delivery has taken over here. i don't think it's a good deal for you, the restaurant guy. because the deliverer takes a big piece out of your price. >> the delivery services like seamless do take double digit percentages but also offer us access to a whole new market. if we aren't doing delivery originally, you have another huge population that you can serve. so it's a give and take. it's not so bad. stuart: you are a new york city restaurant. >> that's right. stuart: everybody has stuff delivered in new york city. >> that's true. that's true. it's a big business. it's a big business. if you are ignoring the delivery market because you are worried about paying the percent, what does it cost you to not be part of it? that's what you need to think about as a business owner. stuart: am i allowed to ask you a financial question? >> of course. yeah. stuart: what's your average check size p

shake shack is going to a four-day work week or looking for it.s partnering in a non-interest group to help basically attract americans over 50 to get back into the work force. they are looking at everybody right now. they need to fill those jobs. stuart: i could retire except i'm not very good with computers. susan: are you good with fries? that would be great. stuart: you didn't have much to say, joel. i didn't mean to leave you out. give me an entrepreneurial stock you like now. >> amazon. stuart: really. >> buy it. stuart: still in it? >> still in it. stuart: great guy. so you bought it, you're still in it. but are you buying any more? >> sure. when we have new floats we buy more. stuart: glad we got you in. $1900 a share heading to $2,000. we shall see. it's that time. 9:40 eastern time. joel, thank you very much indeed. shah, you're all right. thanks for joining us. >>> check that big board. a hundred points, almost, 97, we'll take it, a third of 1% to the upside. >>> nike dropping a line of sneakers reportedly over concerns about angering c