We lost a dear friend here at Eli's this January, Walter Babian.

Walter was there for us from day one in the history of our business. At the time that we started to bake cheesecake, Walter had recently sold the lease of his family's popular restaurant, Charmet's, at the corner of Michigan and Chicago (now Ralph Lauren) to the First National Bank of Chicago. His apartment was around the block from Eli's the Place for Steak and Eli's was his dining room and living room. It was natural that Eli would share his thoughts on the future of the cheesecake business with him and that Walter would offer to help us---in whatever way we needed it---whenever.

We have been blessed as a company and as individuals to have the Angels that Eli' sent. Both Buddy (Glenn Schulman) and Walter were there for many years after my dad died to give us important counsel and advice. What distinguished Walter, Buddy and Eli was that none of them grew old in the most important sense--their minds. Each of them embraced new ideas, new people and new opportunities.

Walter just didn't age, had the energy of someone half his age, and loved life. No one could sit in a negotiating session longer with an international buyer than him or close the dining room and then the bar at Eli's or any hotel in the world.

Eli's will honor him in perpetuity - let's remember his love of Eli's, his love of life, and the affection that he had for all of us.

We'll miss you, Walter!