Who said their lease was the only problem, or that I need to know anything about it? Here is what I said: Do you see the word lease in my statement? Wow, you're really a waste of bandwith, aren't you zdreg?#! P.S. I'm having a lot of fun showing everyone what an assclown you are zdreg. Please, lets continue it until the bonds open and I have to go to work. As I have also stated, you are a foreigner, don't have a clue of the issues involved, and need to STFU while people still believe you have one-half of a brain.
She lost the lease and gave the Trade Council the finger to the tune of 1.7 million. Strictly NY style business.
Tavern on the Green also had a heineous employees' discrimination lawsuit that they had to settle to the tune of 2.2 million dollars. It used to be (one of many) "the" places to dine in NYC, but when the founder (Warner LeRoy) passed and his daughter, (Jennifer Oz LeRoy) took the restaurant over, I think management (who saw her as being weak) just ran roughshod over her, and consequently, drove the place into the ground. I really don't think this should be a subject of redicule on this website (of posers how don't have a damn clue) and Tavern on the Green's bankruptcy filing has nothing to do with the state of the economy, greenshoots, or business in NYC (which still has some of the wealthiest individuals in the world ... just ask the Senior Management at GS what they're taking home, LOL) ... hell, ask the frigg'in secretaries, for that matter. Now, are we done here?
Mandelbro; it's not just Tavern On The Green, not by a long shot. http://business.theatlantic.com/2009/09/is_gotham_falling.php Is Gotham Falling? Sep 10 2009, 11:30 am by Daniel Indiviglio A few weeks ago a friend forwarded me an article about the historic New York City restaurant Café des Artistes closing. Today, I read that another famous restaurant Tavern on the Green has filed Chapter 11 bankruptcy. I found the news of both failures shocking, as they were true NYC landmarks. Both of these restaurants were on the high end of the spectrum in price -- even by Manhattan standards. The earlier article explained that many such fancy restaurants are having trouble. Back in July, I wrote a piece about things going terribly wrong for Manhattan business, but in that case I was talking about pricey retail shops. This time it's restaurants. Is this another sign of the bad economic times or just a trend in varying restaurant tastes? It's easy to blame these closures on the bad economy. There's little doubt that it's playing a major role. As I said in my July piece, between Wall Street and corporate law firms experiencing layoffs and decreased compensation levels, luxury spending has taken a hit. These restaurant closures are particularly significant, however, because they aren't just failed celebrity spots or fly-by-night fad restaurants. They've been around and highly successful for decades. Here's a bit about Tavern, from the NY Times article: For years, the restaurant, near West 67th Street, has been one of the highest-grossing independently owned restaurants in the United States. Its license will be taken over by a new owner, so it will not fail to exist entirely. Still, its being forced to file bankruptcy is telling. Here's a blurb from the NY Daily News article on Café des Artistes, explaining other restaurant problems: The closing of the 92-year-old restaurant comes just days after the upper East Side brasserie La Goulue went out of business after 36 years. The recession has forced so many New York restaurants into bankruptcy and closure that New York food blog Eater.com started a feature called "The Shutter" to document the massacre. Some 512 restaurants closed this past year, according to market research company NPD Group's recently released restaurant census ReCount. Clearly, these notable spots have weathered many recessions. The recession in the early 1980s was particularly deep; we still haven't seen unemployment levels reach that point. This shows just how hard New York City is being hit. I fear that many of its lost jobs, and particularly the lofty salaries they provided, will not be coming back any time soon, if ever. Yet, could such restaurant failures just be a feature of a change in diner behavior? Maybe pricey eateries are out of vogue. I think that's part of it. In a city like New York, trendy new restaurants open up every month. Wealthy diners could be substituting their old favorites for exciting new spots. Still, restaurants like Tavern are so ingrained in the fabric of New York, that it's hard to imagine that trendy restaurants could so easily drive them out of business. That's why, even if diner behavior has changed, I believe the greater influence must be the bad economy. I wonder if New York City will ever be the same once the smoke from this recession clears. I officially vacated my old apartment a few blocks from both Tavern on the Green and Café des Artistes at the end of August, so these two restaurant failures literally hit close to home. But I already had been detecting a change. Each time I returned last spring and summer, the city seemed a little darker, a little dirtier and far less alive. Restaurants seemed emptier than I remembered, and I witnessed more vacant storefronts than I had ever seen before. Could the city be falling back into its pre-Giuliani ways, or is this just a temporary phase to subside once the economy rebounds? We'll have to wait and see.
Let me ask you this, if Oz didn't lose control of the restaurant do you think she still would have filed bk? I don't think so.
Oh, I agree with you, which was the point of my commentary. But as it is, managament was knowingly engaging in sexual coercion of the female employees (which as far as I'm concerned is tatamount to rape) and physical and verbal abuse of the male employees (of non-white origin). Since they had such little respect for the business, it can also be inferred that they were ripping off the restaurant for massive amounts of money from the Bar (endemic in that business) and most likely stealing produce as well. A classic cautionary tale of the Food and Hospitality Business if ever there was one. And while of course there have been cutbacks in the restaurant industry across the Board due to our economic woes, BLSH should look a little closer and actually do some research before making blanket statements like he did.
Hey Mandy, why pick on BLSH because you think he makes a blanket statement. He is no different than you, when you give us your inconsiderable opinion on the markets and worse still, your thoughts on trading. Try being nice to people, you never know you might grow to like it sosueme
Hey soandso I'm very nice to BLSH, in fact I ususally defend him when everyone else on the Board is dumping on him for being such a downer. So there. And next time he'd better actually do his homework before just starting another bullshit thread, or I'll set him straight again. P.S. When did I ever tell your multiple-alias what to do in the markets? Oh right, I never did.