Wendy's in Revlon Mode

In a sign that its turn-around plan is not working, Wendy's announced that a special committee of the board of directors will investigate options for the company, including a sale or a leveraged recapitalization.  Investor Nelson Peltz, who has three seats on the board, announced last week that he's looking for more restaurant companies.  His "stand-still" agreement with Wendy's expires in June.   See WSJ, Wendy's Considers Possible Sale.