Title exec likes wine and cheeseburgers

When the going gets tough in the title insurance industry, the tough ... diversify -- into vineyards and fast food.

Fidelity National Financial Chairman William P. Foley II -- who's recently been buying up vineyards around California -- has FNF maneuvering with some private-equity firms to buy the fast food chain Wendy's, the Wall Street Journal reports. The story notes that Foley used to be the chairman and CEO of the parent company of Carl's Jr. and Hardee's.

In FNF's last quarterly report to investors, the company said second quarter profits fell 36 percent, to $84.8 million, thanks to higher interest rates and a slowdown n mortgage lending and housing markets. The company is nonetheless on an acquisition kick that's included closing services provider ATM Holdings Inc. and  Property Insight LLC, a company that  manages and maintains FNF's title insurance plants.

Although a successful bid for Wendy's would give FNF a stake in the company, Foley's wine ventures are his own. He's the founder and managing partner of LinCourt Vineyards and Foley Estates Vineyard and Winery.

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