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NEW YORK - Wendy's International Inc. shares fell down a heart-stopping 4 percent at midday Monday after the fast-food chain said it will post ailing 2002 earnings that are lower than Wall Street's current prognosis.

“The company is fine, we just don’t want people to have a heart attack when they see that our earnings are below expectations," CEO Jack Schuessler said. "Revenue streams have suffered a slight blockage along with the rest of the economy, but we feel the company is fine and on it’s way to a better place.”

Wendy's (WEN) is down $0.71 to $31.34 a trend that most on Wall Street consider a sudden emergency, but Wendy’s management attributes it to 9/11’s “sudden attack on the heart of America”.

doesn't look good

Claiming that “rumors of its demise have been greatly exaggerated”, the nation's third-largest hamburger chain said it expects to rise from grave predictions with revenue growth of 7 to 8 percent for 2002.

Wendy’s also unveiled plans to offer new “Biggie-Stocks” whereby for an extra 10 cents per share you get stock worth an extra 20 cents.

Critics of the fast food chain claim that they are losing ground to more health conscious fast food chains like Subway, which has grown to be the 2nd biggest chain behind McDonalds. The Wired Press tried to contact Wendy’s concerning the allegations that Wendy’s menu contains high levels of saturated fats, a contributing factor for heart disease, but founder Dave Thomas, was unavailable for comment.

Check out TWP’s expose of the Fast Food Industry: Grease Traps.