As you may know, the stockholders of Cole will be meeting in a couple of weeks to vote on the proposed Cole-Luxottica "Merger".

Given the fact that since the announcement of this deal Cole stock has dropped below the buying price of the deal, and the fact that many of the middle management and executives have been looking like rats jumping ship- the "merger" is a done deal!

The good side to this is, the management at Luxottica/Lenscrafters has got to be better than what has been at Cole/Pearle for the last four years.

What will happen next is unclear, by look for some major announcements at the Franchaisee Convention in Boca in June.