Posts Tagged ‘Economy’
Expect 20,000 Restaurants to Close Over the Next Three Years
Somehow Y&H missed this story when it was originally published, but earlier this month the New York Times‘ Business section reported that 20,000 U.S. restaurants are expected to close over the next three years. Much of the downsizing is due to a specific mania that affected many during the E-Z Credit Era, namely overbuilding.
Times staffer Andrew Martin reports that the casualties will hit all levels, but that the ax will fall hardest on casual chain restaurants, like Applebee’s:
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Want to Know About Morou Ouattara’s Future? Ask Him on ‘Grill Warren’ Right Now
Morou: Hit him with your best question
Given the apparently precarious nature of our local dining scene, we should all jump at the chance to poke and prod at one of the area’s premier chefs, Morou Ouattara, who recently told the Washingtonian’s Todd Kliman that he’ll be pulling the plug on Farrah Olivia in Old Town on April 29.
And now we have the chance: Ouattara will be hosting today’s 11 a.m. edition of Grill Warren at Northern Virginia magazine.
Not that Y&H is asking you to do his work, but here’s what I’d want to know, if I got a chance to grill Morou:
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NYT: Candy Has Become Our Recessionary Pacifier
According to the New York Times, Americans seem to be coping with the economic downturn by gobbling down obscene amounts of Necco Wafers and other sugary treats. I read this piece with great interest, since my own candy intake appears to be rising. ‘Course, I blamed it on blogging, which is probably worse on your health (and the environment) than red meat.
Reports the Times:
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California Tortilla Tries to Drum Up Customers From the Ranks of the Unemployed
You have to hand it to California Tortilla, the Rockville-based chain, for developing a two-pronged promotional plan that gives the recently unemployed a free burrito while simultaneously grooming them as future diners. I don’t know if I should applaud or take a shower.
According to this small item in the Washington Business Journal, California Tortilla “is encouraging terminated employees to hold onto their unemployment papers for a little while longer after they file. Those who can mail proof of termination to the company can receive a ‘Burrito Elito’ card loaded with a free burrito.”
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More on Diners This Afternoon on Metro Connection
You’ll have to excuse my recent fascination with diners. Yes, I love almost everything about them: their endless menus, their hon-heavy waitresses, and their willingness to serve you a stack a syrupy flapjacks at 3 in the morning, no questions asked. But during our current economic meltdown, I love diners mostly for their symbolism. They’re survivors. They’ve been through the worst that our economy has dished out. You can hang your flat-billed cap on that.
Metro Connection host David Furst and I will discuss diners in even more detail today and tomorrow. We’ll talk about which one serves the best eggs, which one serves the best grilled cheese, and which one serves the best Greek food. You’ll want to tune at 1 p.m. today (7 a.m. tomorrow) at 88.5 FM.
Photo by Darrow Montgomery
D.C. Restaurant Market: Not As Depressed As You Might Think
College Park-based Joe Spinelli has been in the restaurant business for more than 30 years, consulting and supplying and troubleshooting for some of the biggest (and smallest) eateries in the country, from California Pizza Kitchen to the Amsterdam Falafelshop. He’s probably consulted on more restaurants than most people have eaten in. As such, Spinelli’s seen a lot of down markets, but he doesn’t think the current economy will affect restaurants in the D.C. region as harshly as those in other areas. He says his consulting company is still opening three to four restaurants a week in our market.
There’s one caveat to all those openings, though: Most are in the so-called fast-casual market, places like Organic to Go and Nando’s Peri-Peri, where the food is relative cheap and where folks don’t have to leave a tip. “People are still going out to eat,” Spinelli says. “They’re just not going to Ruth’s Chris.”
Say it ain’t so, Joe! So does that mean gloom and doom for small, independent, white-tablecloth restaurants in the area?
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WSJ: Busboys Are the Latest Victim of the Poor Economy
When restaurants can’t afford to pay busboys minimum wage, you know things are bad out there. The Wall Street Journal reports today that at least one major chain (Bob Evans) and a few franchisees from another (T.G.I. Friday’s) are axing the folks who clean up after us in their restaurants. It’s putting the squeeze on waiters and waitresses who already have to cover too many tables.
Reporter Janet Adamy writes:
“The busser is a luxury that, in this environment, is very difficult to justify,” says Mark Godward, president and founder of SRE, a Miami consulting firm that has advised several restaurants to cut busboys.
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More Fun Recession News: Cutting Back on Food Spending May Make You Fat
Reuters has just published this bit of delightful news: The recession may make you poor and fat. Reports the news service:
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Parmesan Cheese: Another Victim of the Global Economic Crisis
The U.S. government bails out automakers and banks. In Italy, they bail out a different kind of billion-dollar industry, Parmesan cheese producers. Who, I ask, has the more civilized society?
London’s Telegraph reports: “Silvio Berlusconi’s government is to buy 100,000 of the country’s beloved Parmigiano Reggiano cheeses from its hard-pressed producers at a cost to the state of 50 million euros (£45 million).”
The sad thing is, Parmesan producers are not the only cheese-makers looking for a government hand-out in Italy.
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