FRN Invesco Frontier Markets ETF

The year was 1935. America was in the grip of the Great Depression. More than one in five workers were jobless, and record heat and drought had turned America's heartland into a Dust Bowl. It was hardly an auspicious time to start a business. But on July 18, 1935, in Springfield, Mass., two young brothers, 20 year old Prestley and 18 year old Curtis Blake, did just that, opening a modest neighborhood ice cream shop selling double-dip cones for 5 cents--just 2 cents more than a first-class stamp. Reflecting their intention of providing neighborly service, the fledgling entrepreneurs called their business "Friendly." Fast forward 70 years. Friendly Ice Cream Corporation is a market leader, with 530 restaurants in 16 states, annual sales of $574 million and a place on the American stock exchange. On the eve of its 70th birthday, the company says that growth remains rooted in the founders' original aims of quality and service. "Our vision is to inspire guest loyalty through great signature foods, famous ice cream shoppe desserts, sparkling facilities, prompt, friendly service and dedicated, talented people," said President and CEO, John L. Cutter. "Friendly's is a place where kids and families, teens and seniors, can all come, feel welcome, enjoy themselves - and create good memories. That was true in 1935 and it's true today." In an era of "fast food," Friendly's still offers a made-to-order menu, from full breakfasts to signature Burgers, SuperMelt(TM) Sandwiches, homestyle entrees, and indulgent ice cream. "We still make all our own ice cream using milk from area dairies and imported Dutch cocoa for our famous hot fudge sauce," noted Cutter. "And every one of our ice cream cakes are still finished by hand." This is not to say that Friendly's hasn't changed in ways that would doubtless astonish the Blake brothers. An Internet-based guest feedback system allows restaurants to make ongoing improvements to the dining experience while re-imaging of restaurants with a new "ice cream parlor" look increases guest appeal. New products range from Team Xtreme ice cream with flavors like Half Pipe Kookie Dough Swirl to decorated ice cream cakes sold in more than 400 supermarkets. In order to spur new restaurant development, the company is franchising and re-franchising restaurants at a robust rate. "We're on target to open 15 new franchise restaurants in fiscal year 2005, while refranchising company restaurants to spur growth and development," said Cutter. "Each re-franchise agreement has significant new development attached to it." More restaurants mean good things for local communities, to which Friendly's gives back in multiple ways. "We're a long-time partner with Easter Seals, for which we have raised more than $22 million through our Cones for Kids program," said Cutter, "and we proudly support a variety of other local organizations, such as schools, scouting, and sports. "And that's something we look forward to doing for another 70 years," he added. Friendly Ice Cream Corporation (Amex: FRN) is a vertically integrated restaurant company serving signature sandwiches, entrees and ice cream desserts in a friendly, family environment in more than 530 company and franchised restaurants throughout the Northeast and mid-Atlantic regions. The company also manufactures ice cream, which is distributed through more than 4,500 supermarkets and other retail locations. With a 70-year operating history, Friendly's enjoys strong brand recognition and is currently revitalizing its restaurants and introducing new products to grow its customer base. Additional information on Friendly Ice Cream Corporation can be found on the Company's website, friendlys.com. In 1935... -- January 4 - Bob Hope is first heard on network radio. -- January 8 - Elvis Presley is born. -- January 11 - Amelia Earhart is the first person to fly solo from Hawaii to California. -- February 22 - Airplanes are no longer permitted to fly over the White House. -- February 26 - New York Yankees release Babe Ruth. He signs with the Boston Braves. -- February 28 - Nylon, the first completely synthetic fiber, is invented by DuPont chemist Wallace Carothers. -- April 14 - The "Black Sunday" dust storm "turns day into night," destroys 5 million acres of wheat, and gives rise to the term "Dust Bowl". -- April 20 - "Your Hit Parade" debuts on radio, becomes Saturday Night institution. -- May 1 - Construction of Boulder Dam is completed. -- May 24 - First major league night baseball game is played, in Cincinnati. -- May 25 - Babe Ruth hits the 714th and final home run of his career, a record which will stand for 39 years. -- May 25 - Jesse Owens sets three world records and ties a fourth in 45 minutes at the Big Ten Championships. -- June 13 - James J. Braddock defeats Max Baer to win the boxing heavyweight championship of the world. -- June 16 - U.S. Congress accepts the second phase of FDR's "New Deal" legislation. -- June 28 - FDR orders a federal gold vault to be built at Fort Knox, KY. -- June - Ella Fitzgerald makes her first recording. -- July 16 - World's first parking meters are installed in Oklahoma City. -- July 18 - Prestley and Curtis Blake open first "Friendly" restaurant, in Springfield, Mass. -- July 30 - First Penguin book is published, beginning the paperback industry. -- August 14 - FDR signs the Social Security Act into law. -- September 8 - The Hoboken Four, with Frank Sinatra as lead singer, wins first prize on radio's Major Bowes Amateur Hour, beginning Sinatra's musical career. -- September 30 - George Gershwin's "Porgy and Bess" premieres in Boston. -- October 20 - First Gallup Poll published. -- November 5 - Parker Brothers introduces Monopoly board game. -- December 1 - Woody Allen born