JBL: Global Gluttony

There is an over 33% obesity rate in the U.S. and a lot of people who eat very poorly. Krispy Kreme (KKD Quote) was quick to give these people -- everybody, in fact -- a tasty treat, and is now targeting the very same market abroad. Fortunately for Krispy Kreme, there are doughnut-loving people all over the world.

Krispy Kreme was the darling of Wall Street earlier this decade, but expanded recklessly, and prior management used accounting later deemed egregious by a special board committee. Because the company is restating its results back to before its 2000 IPO, Krispy Kreme hasn't reported earnings since 2004 and won't do so until the end of April.

Krispy Kreme has closed more than 80 stores nationwide since turnaround specialist Stephen Cooper came on board last year. Krispy Kreme has also been replacing management that was accused of "creative" earnings, including longtime CEO Scott Livengood. ...