The reason is that if the Red Lobster deal scares off activist investors entirely, management will avoid a serious discussion with shareholders about how to best create value. Left to its own devices, management has a poor track record. Since the start of 2011, Darden shares are up just 9 percent while the S&P 500 has risen nearly 47 percent and Chili's owner Brinker International has gained 152 percent. A big problem has been a slowdown in sales, which put Darden's profit margins under pressure thanks to its inflated cost base.