Restaurants Re-stocking for Bigger Crowds...
Have you noticed that restaurants aren't quite as "desperate" lately? For a while, it looked like business was going away and staying away for good.
Now things have picked up. Of course, there have been casualties. Our favorite neighborhood place wound up closing recently - a sad day for us. Other places were pushed out of business too. Then again, the restaurant business is about as tough as it gets. And New York's pretty competitive. I think what's happened is that places that were running on a tight margin to begin with simply fell over the edge.
Now that we're past the 2008 crisis, things have calmed down. Are people simply feeling more confident about spending their money? And why? Unemployment continues to rise.
I can think of a few reasons. First, maybe the recent stock market rally simply makes people feel better. Even if they don't own stocks, the constant drumming of "positive" stock market news maybe has a psychological effect.
Or maybe all the bailout money has people thinking that the economy simply has to turn up at some point soon. With trillions earmarked for various uses, some of that money must be stimulating something, yes? Maybe people are thinking that.
Or perhaps some of that "stimulus" money is actually stimulating the economy in some ways we really can't see right now. It's possible; you can't count it out.
In any case, restaurants must be feeling better about things.
On the other hand, the guy who owned our old favorite spot was supposed to be opening a new place in the same location, but just gave up. I had my eye on the spot as he put up a new awning with a sign saying he'd be re-opening with a new type restaurant. Then, a few weeks ago, the sign and the awning came down. Now the spot is empty.
Mixed signals? I think so. I'm guessing that, while places with a strong business are doing OK, some types of places continue to just hang on. And maybe business isn't good enough to open up a new place.
Of course, in New York City places open all the time. But it's such a big city with so many different types of people, there's always some niche you can target: some idea that will catch on with some group. Maybe you open a Thai - French place that caters to young investment bankers in SoHo (a New York neighborhood) that has pretty waitresses and handsome waiters who dress up like superheroes - well, you get the point. Trendy stuff sells, even in tough times.
Besides, even in tough times people want to go out once in a while. Maybe there will be a bunch of lower priced places (not fast-food joints please) that serve decent food and treat you well. Hey, that would be nice no matter what state the economy's in. Around here, in New York, things are so pricey, even when times were flush we found it hard to justify spending money on fancy restaurants.
Then again, being a bit of a cheapskate, I can't imagine how flush I'd have to be to spring for some of the prices you still see in some places.
But I'm not complaining. We eat pretty well here at the Casa Esposito. Besides, I love to cook. And our sons are pretty good chefs too. So you've got to set the bar up pretty high if I'm going to spring for your food.
Which brings me back to our old favorite. It served high quality family-style Italian cuisine in a clean, friendly, fun atmosphere at great prices. It sure was fun while it lasted. Adios, old friend.
Now things have picked up. Of course, there have been casualties. Our favorite neighborhood place wound up closing recently - a sad day for us. Other places were pushed out of business too. Then again, the restaurant business is about as tough as it gets. And New York's pretty competitive. I think what's happened is that places that were running on a tight margin to begin with simply fell over the edge.
Now that we're past the 2008 crisis, things have calmed down. Are people simply feeling more confident about spending their money? And why? Unemployment continues to rise.
I can think of a few reasons. First, maybe the recent stock market rally simply makes people feel better. Even if they don't own stocks, the constant drumming of "positive" stock market news maybe has a psychological effect.
Or maybe all the bailout money has people thinking that the economy simply has to turn up at some point soon. With trillions earmarked for various uses, some of that money must be stimulating something, yes? Maybe people are thinking that.
Or perhaps some of that "stimulus" money is actually stimulating the economy in some ways we really can't see right now. It's possible; you can't count it out.
In any case, restaurants must be feeling better about things.
On the other hand, the guy who owned our old favorite spot was supposed to be opening a new place in the same location, but just gave up. I had my eye on the spot as he put up a new awning with a sign saying he'd be re-opening with a new type restaurant. Then, a few weeks ago, the sign and the awning came down. Now the spot is empty.
Mixed signals? I think so. I'm guessing that, while places with a strong business are doing OK, some types of places continue to just hang on. And maybe business isn't good enough to open up a new place.
Of course, in New York City places open all the time. But it's such a big city with so many different types of people, there's always some niche you can target: some idea that will catch on with some group. Maybe you open a Thai - French place that caters to young investment bankers in SoHo (a New York neighborhood) that has pretty waitresses and handsome waiters who dress up like superheroes - well, you get the point. Trendy stuff sells, even in tough times.
Besides, even in tough times people want to go out once in a while. Maybe there will be a bunch of lower priced places (not fast-food joints please) that serve decent food and treat you well. Hey, that would be nice no matter what state the economy's in. Around here, in New York, things are so pricey, even when times were flush we found it hard to justify spending money on fancy restaurants.
Then again, being a bit of a cheapskate, I can't imagine how flush I'd have to be to spring for some of the prices you still see in some places.
But I'm not complaining. We eat pretty well here at the Casa Esposito. Besides, I love to cook. And our sons are pretty good chefs too. So you've got to set the bar up pretty high if I'm going to spring for your food.
Which brings me back to our old favorite. It served high quality family-style Italian cuisine in a clean, friendly, fun atmosphere at great prices. It sure was fun while it lasted. Adios, old friend.
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