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In
1960,[11] Tom
Monaghan and
his
brother,
James,
took
over
the
operation
of
DomiNick's,
an
existing
location
of
a
small
pizza
restaurant
chain
that
had
been
owned
by
Dominick
DeVarti,
at
507
Cross
Street
(now
301
West
Cross
Street)[12] in Ypsilanti,
Michigan,[13] near Eastern
Michigan
University.[14] The
deal
was
secured
by
a
$500
down
payment,
then
the
brothers
borrowed
$900
to
pay
for
the
store.[15] The
brothers
planned
to
split
the
work
hours
evenly,
but
James
did
not
want
to
quit
his
job
as
a
full-time
postman
to
keep
up
with
the
demands
of
the
new
business.
Within
eight
months,
James
traded
his
half
of
the
business
to
Tom
for
the Volkswagen
Beetle they
used
for
pizza
deliveries.[15]
By
1965,
Tom
Monaghan
had
purchased
two
additional
pizzerias;
he
now
had
a
total
of
three
locations
in
the
same
county.
Monaghan
wanted
the
stores
to
share
the
same
branding,
but
the
original
owner
forbade
him
from
using
the
DomiNick's
name.
One
day,
an
employee,
Jim
Kennedy,
returned
from
a pizza
delivery and
suggested
the
name
"Domino's".[12] Monaghan
immediately
loved
the
idea
and
officially
renamed
the
business
Domino's
Pizza,
Inc.
in
1965.[15]
The
company
logo
originally
had
three
dots,
representing
the
three
stores
in
1965.[15] Monaghan
planned
to
add
a
new
dot
with
the
addition
of
every
new
store,
but
this
idea
quickly
faded,
as
Domino's
experienced
rapid
growth.[15] Domino's
Pizza
opened
its
first
franchise
location
in
1967
and
by
1978,
the
company
had
expanded
to
200
stores.[16] In
1975,
Domino's
faced
a
lawsuit
by Amstar
Corporation,
the
maker
of Domino
Sugar,
alleging
trademark
infringement
and
unfair
competition.
On
May
2,
1980,
the Fifth
Circuit
Court
of
Appeals in New
Orleans found
in
favor
of
Domino's
Pizza.[17]
In
1998,
after
38
years
of
ownership,
Domino's
founder
Tom
Monaghan
announced
his
retirement,
sold
93
percent
of
the
company
to Bain
Capital,
Inc.
for
about
$1 billion,
and
ceased
being
involved
in
day-to-day
operations
of
the
company.[18] A
year
later,
the
company
named Dave
Brandon as
its
CEO.
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