Rachael Ray went from scraping together the rent as a candy counter girl to a multi-millionaire with her own talk show, cooking show(s), magazine, and books that have sold more than 4 million copies. She's also spawned a lingo all her own. (EVOO for Extra Virgin Olive Oil has entered the popular vernacular). All this in a little under ten years.

How cool is that?

Love her or hate her, Rachael Ray, she of the perky smile and Girl-next-door demeanor, gets major points for translating her love of cooking into a multi-million media empire. People can't seem to get enough of her "regular gal" persona. But her bubbly personality masks some serious business savvy.

Using her mentor Oprah Winfrey as a blueprint, Ray has expanded out of the kitchen this year into many other avenues. Her one-hour daytime talk show, The Rachel Ray Show, is patterned after the perennially popular Oprah Winfrey Show, and was the only syndicated daytime talk show launched in 2007 to be renewed. Her Food Network shows continue to be among the most popular on the channel.

She also cooked up some lucrative endorsement deals with name brands such as Dunkin Donuts and Nabisco -- now owned by Kraft Foods (NYSE: KFT). These media venues help feed her magazine (Every Day with Rachel Ray) and cookbook sales.

These are like the cherry on top of the $16 million Ray took home this year, according to Forbes magazine. By some estimates, Ray's net worth is touching $100 million, but that's hard to verify. One thing's for sure, this gal doesn't need to get out of the kitchen; she's proving that she can stand the heat.

Be sure to check out more Money Winners of 2007.

In an effort to appeal to a broader demographic, department-store name Kohl's (NYSE: KSS), known for its broad selection of modestly-priced items, is focusing its efforts on unique product lines, including clothing branded by Vera Wang and fresh additions to its housewares department. Earlier this week, the retailer unveiled a new line of kitchenware, emblazoned with the Food Network brand.

The new Food-Network tools range in price from $10 to $400 and include cookware and bakeware, utensils and gadgets, pantryware, dinnerware, and textiles/linens. To coincide with the new line, Kohl's will launch a marketing campaign to include advertisements, promotions, and direct mail.

The cable network, which can be seen in about 90 million households in the U.S., features programs hosted by celebrity chefs such as Bobby Flay, Emeril Lagasse, Rachael Ray, and Ina Garten (aka "The Barefoot Contessa"). Kohl's already offers a small line of Rachael Ray-sanctioned cutlery, cookware, and serving pieces, so the deal with the Food Network seems like a natural progression.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

Applebee's International, Inc. (NYSE: APPB) February decision to put itself up for sale could be seen as the company's admission that it's no longer a company that has any growth potential. Its future may be brightest in the hands of a private owner who can cut costs and ring out efficiency away from the glare of Wall Street's demands for growth -- that is if one can be found.

According to today's Wall Street Journal, (subscription required) even the woman who founded the company, T.J. Palmer, doesn't like it: After having visited the restaurant chain regularly for years, Ms. Palmer says, she rarely goes anymore. "It doesn't have anything that would make me want to come back."

What went wrong? Competitors copied Applebee's and the company failed to evolve, leaving the company with a stock price that has been stagnant for 3 and a half years. The company is trying to reinvent itself by attracting more upscale consumers, and has even hired The Food Network's Tyler Florence to revamp the menu.

But second acts in the business world are rare, and Applebee's reputation is working against it. My college-age friends refer to the chain as Crapplebee's, and the company doesn't really seem to be part of the modern restaurant landscape in any meaningful way.

Given the fact that the Applebee's brand appears to be losing value as hipper chains cramp its style, I'm going to make a bold prediction: The company's search for a buyer will be unsuccessful, and shareholders will continue to reap returns that are about as boring as the food on the menu at Applebee's.

In late December, Avista Capital Partners agreed to pay $530 million for the Star Tribune, less than half of what McClatchy paid for it in 1998. The deal comes amid growing concerns about the future of newspapers, which are facing competition from the Internet. But in spite of the ugly long-term outlook for newspapers, they may make an interesting investment for now.

For starters, Avista is purchasing the newspaper for 6.5 times its cash flow. Newspapers don't have the large capital expenditure requirements that many more booming businesses do. The industry is in decline, but it's still making money. I'm reminded of a profound statistic that I first read about in Jeremy Siegel's book The Future for Investors: Since 1957, railroad stocks have outperformed airlines, trucking, and the S&P 500.

This is of course not attributable to dramatic growth in the railroad industry. Rather, most investors saw that the companies were in decline and the share prices were driven down, and then provided a good return. The moral of the story: valuation matters. Most stocks are a good deal at the right price.

Are newspapers the new railroads? There are numerous similarities. Railroads were replaced by airplanes and trucks, but the railroad stocks were the better investment. Newspapers are being replaced by the Internet, but that in no way means that Internet stocks are better buys. Here's a quick look at some of the bigger newspaper stocks:

• Gannett (NYSE:GCI): Owner of 91 daily newspapers, including USA Today. The also own around 1,000 non-daily publications. Trades at around 11 times cash flow.
• E.W. Scripps (NYSE:SSP): Owns some newspapers, but also television stations, including HGTV and the Food Network. Also owns Shopzilla.
• Tribune (NYSE:TRB): Trades at around 8 time cash flow. Owns 11 daily newspapers, the Chicago Cubs, television stations, and other media interests.